Measures are currently underway to create an institutional structure that will support the implementation of Sri Lanka’s Climate Prosperity Plan, President Ranil Wickremesinghe stated in Parliament today (13 Nov.).

Delivering the 2024 Budget speech this afternoon, President Wickremesinghe noted that a green economy needs to be created in Sri Lanka, as the climate resilience plan is set to be the basis for the future vision of the sustainable development agenda.

“By establishing a Climate Finance Unit in the Treasury and a Climate Change Office in the President’s Office, steps are being taken to create the institutional structure that will support the implementation of Sri Lanka’s Climate Prosperity Plan”.

Further, 600 acres of land beyond the Kothmale Reservoir has been allocated to establish an International Climate Change University, while measures also underway to develop renewable energy sources, including green hydrogen, green ammonia, solar and wind.

Talks are also underway to establish a climate change commission soon, the President said.

Speaking with regard to recent concerns of a potential food shortage in several countries within the Asian region, including Sri Lanka, the Head of State proposed that Rs. 250 million be allocated to launch a suitable program to ensure food security, the supply of essential food to consumers and the provision of technical and other facilities required by small and medium-scale processors engaged in the food production process, in the future.

“We were able to present a green budget that would create a green economy and a green society. It is a green budget that strengthens the country’s future. This green budget is an approach to a new economy. A prelude to a strong future. A confirmation of the concept of symbiosis”, President Ranil said.