The Central Bank of Sri Lanka (CBSL) has launched Sustainable Finance Roadmap 2.0, reinforcing the country’s commitment to ESG integration and its long-term carbon neutral strategy. Unveiled by Governor Dr. P. Nandalal Weerasinghe on May 5, the updated roadmap shifts from a green finance focus to a broader framework that includes financial inclusion, social equity, and gender equality. 

With $10.85 billion needed to meet climate goals by 2030, Roadmap 2.0 aligns national financial policy with global climate priorities and social imperatives. CBSL emphasized that climate change is now a financial stability issue, citing rising inflation, agricultural strain, and infrastructure risk as pressing threats. 

Key Features of Roadmap 2.0: 

• Expanded ESG scope to include MSMEs and vulnerable communities 

• Integration of inclusive green finance (IGF) through Phase II of the National Financial Inclusion Strategy 

• Enhanced risk management frameworks to bolster financial system resilience 

• Stronger alignment with SBFN and global sustainable finance standards 

The roadmap supports Sri Lanka’s NDC targets and responds to the World Bank’s warning that climate inaction could push 130 million people into poverty. CBSL also pointed to NGFS data revealing that $4.2 trillion in global financial assets are at risk from climate impacts. 

CBSL called on stakeholders to engage through new working groups and collaborate on blended finance solutions, noting that coordination challenges remain a key obstacle to implementation. 

With this bold strategy, Sri Lanka positions itself as a regional leader in sustainable finance, aiming to build a resilient, inclusive financial system that supports its carbon neutral strategy and delivers measurable ESG outcomes across economic, social, and environmental dimensions. 

Source: 

https://esgnews.com/sri-lanka-launches-sustainable-finance-roadmap-2-0-to-tackle-climate-risk-and-boost-inclusion/