ECONOMYNEXT – Sri Lanka’s economic model would be built on competitiveness, digital transition, energy transition and the transformation to a green economy, its president said.
The country plans to establish an International Climate Change University (ICCU) for which the government has allocated 600 acres overlooking the Kothmale reservoir.
The ICCU would be an international stakeholder university rather than a solely Sri Lankan institution, the president said at the first International Climate Change Forum held at Temple Trees yesterday (2).
“The country’s small size could be advantageous, given its potential for excess green energy, including solar, wind power and hydrogen,” Ranil Wickremesinghe was quoted as saying in a statement by the president’s media office.
“However, Sri Lanka currently lacks the expertise to formulate detailed plans for this transition. To address this, the country is reaching out to multilateral development banks and bilateral partners to obtain the necessary knowledge and support.”
Wickremesinghe outlined the country’s plans for environmental sustainability and economic growth.
Sri Lanka intends to present a climate prosperity plan at the upcoming COP 28, Wickremesinghe said, with the goal of reaching net zero emissions by 2040.
The president stressed the need for the global south, including Sri Lanka, to develop expertise in climate finance, debt relief and related economic issues.
Wickremesinghe also discussed the signing of the Agreement of Cooperation on Climate Change when he met President Yoon Suk Yeol of the Republic of Korea last month. (Colombo/Nov3/2023)