Incentives mooted for investments safe from climate change in Sri Lanka

ECONOMYNEXT – Sri Lanka’s government has been advised to offer incentives like tax breaks to encourage investments only in areas safe from the effects of climate change to prevent construction of facilities that will eventually go under water.

“We need the right incentives and disincentives to change behaviours,” Attorney-at-Law Lalanath de Silva told a forum held by the Sri Lanka Business and Biodiversity Platform, known as Biodiversity Sri Lanka.

“The government can offer tax breaks and subsidies to encourage building in areas safe from the effects of climate change.”

De Silva, an environmental law expert, said businesses like hotels were being built in coastal areas that could go under water from rising seas and these investments were likely to be lost.

“We could ensure that facilities built in vulnerable shorelines are temporary and can be easily moved,” he suggested at the forum held to discuss how Sri Lankan businesses can cope with climate change.

He also criticised the practice of allowing buildings to be built with glass facing the sun that would increase the cost of cooling.

“These are artificial hot houses totally inappropriate for our country. Buildings which drain energy are not the best for the economy or energy budget. We need naturally cool buildings. We need economic incentives for such adaptive buildings.”
(COLOMBO, 26 September, 2018)

Latest Comments

Your email address will not be published. Required fields are marked *