The Colombo Stock Exchange (CSE) has successfully wrapped up the second phase of its significant reforestation project, in partnership with the non-profit organization “Rainforest Protectors of Sri Lanka.” Last week, CSE team members planted the initial 200 saplings as part of this phase in the Rajawaka rainforest. This stage of the initiative is aimed at reaching a total of 4,000 tree saplings to be planted in the Rajawaka Rainforest, a project that commenced last November in honor of CSE’s 40th Anniversary.
The corporate social responsibility initiative, titled “Let’s Celebrate 40 Years with 4,000 Trees,” is integrated into ongoing reforestation efforts under the WANAROPA program. This program aligns with the ‘Bonn Challenge,’ which seeks to restore 200,000 hectares of deforested land across Sri Lanka.
Located at the intersection of the wet and intermediate zones, the Rajawaka rainforest boasts a variety of landscapes and a rich array of biodiversity that includes elephants, leopards, bee populations, and other distinctive wildlife. The goals of the initiative include expanding forest cover and rehabilitating the ecosystem, which will help address climate change, safeguard biodiversity, prevent habitat destruction, improve water security for local communities, enhance carbon capture, and enrich soil fertility. Additionally, the program will engage with local communities to provide vital education on conservation practices and methods to prevent human-induced forest fires and habitat degradation.
Moreover, CSE is an active participant in the global Sustainable Development Stock Exchange initiative and collaborates closely with GRI South Asia to encourage sustainability reporting among listed firms. As of January 1, 2025, the top 100 companies by market capitalization will be required to adopt the SLFRS S1 and S2 sustainability disclosure standards, effective from the 2025 financial year. To support these efforts, CSE has released a Guide on Communicating Sustainability for listed companies, created a framework for Sustainable bonds, and expanded its regulatory framework for sustainable finance products through Green, Social, Sustainability, and Sustainability-Linked (GSS+) bonds. Between 2024 and 2026, listed companies issued eleven different types of such debentures, including Green Bonds, Blue Bonds, Social Bonds, Sustainable Bonds, and GSS+ Bonds, raising over LKR 82 billion.
Images: CSE team engaged in reforestation activities in the Rajawaka Forest with the “Rainforest Protectors of Sri Lanka.” The team is actively involved in planting tree saplings in the forest.
Image Caption: Colombo Stock Exchange (CSE) team participating in the “Let’s Celebrate 40 Years with 4,000 Trees” CSR initiative alongside the ‘Rainforest Protectors of Sri Lanka.’
Source: Financial Chronicle Biz English | Sri Lanka Business News.
