President Ranil Wickremesinghe has revealed that several international parties have expressed their willingness to climb aboard Sri Lanka’s initiatives to tackle the looming climate crisis.
Speaking to Gulf Business on the sidelines of the COP28 summit in Dubai, President Wickremesinghe revealed that several international parties have expressed their interest to corporate with Sri Lanka on the proposals presented with regards to combatting the climate crisis.
Sri Lanka is already being impacted by the climate crisis, along with several other countries in the tropic, President Wickremesinge said, highlighting the urgency with which the matter should be addressed.
“For the last few years, we’ve been thinking the same way…where have we got? We’re still stuck where we are. So we’ve proposed to think out of the box, because you are having a crisis, if you are not getting results on the present path, then we have to look at something new”, the Head of State said.
Speaking on the proposals presented, President Wickremesinghe revealed that Sri Lanka is currently spearheading numerous initiatives in this regard, including the Climate Justice Forum, which is expected to be presented before the United Nations Environment Programme (UNEP) conference in 2024, and the International Climate Change University (ICCU), which Sri Lanka plans on hosting with support from stakeholders.
“There has to be capacity building, there has to be also a focal point where research goes on. This is more a university for postgraduate research as well as training of officials”, President Wickremesinghe said, adding that it is likely to draw several similarities to the East-West Center in Hawaii.
Moreover, the President also spoke of the Tropical Belt Initiative, which focuses on harnessing commercial investments in vital natural resources within the tropical belt, such as forests, swamps, and mangroves.
“At the end of the day, we need trillions of dollars”, President Wickremesinghe said, explaining that in light of the fact that no government would be willing to, nor capable of, sourcing such funds annually, it is crucial that such an investment be commercially viable.
“At any case, governments can’t raise the trillions that are needed. We have to get it from the private market, we have to find a way of unlocking it”, he emphasised.
President Wickremesinghe also shed light on the collaboration with the Indian Ocean Rim Association (IORA) to promote the blue economy and create a sustainable Indian Ocean, highlighting that the combination of the Tropical Belt Initiative and the efforts in the Indian Ocean is envisioned to become the world’s largest global sink for carbon.
When asked as to the response received from other nations, if any, with regard to the proposals, President Wickremesinghe stated that discussions with world leaders, including the Presidents of Maldives, Kenya, Brazil and Ghana showcased widespread interest in the initiatives.
“I think there will be sufficient support”, he said.
Meanwhile, speaking on Sri Lanka’s ongoing recovery from its infamous economic crisis in 2022, President Wickremesinghe assured that the country is expecting positive economic growth next year.
Speaking on its debt restructuring programme, the Head of State further said, “We’ve finished the negotiations with our official creditors, with the Paris Club, with India and with China, and we anticipate that the official creditors committee will come up with a positive statement at the end of the year”, adding that Sri Lanka is only left with having to negotiate with the private creditors.
Below is the full interview:
