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Region:

Asia

SBN Member:

Central Bank of Sri Lanka

Year of joining:

2016

Framework:

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)

Sri Lankan Sustainable Banking Principles (SLBA, 2018)

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PILLARS
Indicators for global benchmarking of sustainable finance
CLIMATE AND GREEN FINANCE Products and services
  • Defining sustainable assets and financial products

    Questions

    Does the framework provide definitions and examples of green assets?

    Does the framework provide a comprehensive taxonomy of green assets?

    Does the framework provide definitions, examples, or a taxonomy of social and/or sustainable assets?

    Besides debt products (loans, bonds), does the framework provide definitions and examples of different types of sustainable finance products/services (e.g., saving accounts, means of payment, insurance, private equity, etc.)?

    Answer Source Reference
    • (1) 3.1.1 Sustainable/Green Loan

    • N/A

    • (1) 3.1.1 Sustainable/Green Loan (1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

    • (1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

  • Green finance product guidelines

    Questions

    Does the framework provide guidelines for green loan/green credit or other green financial assets (excluding green bonds)?

    Does the framework provide guidelines for issuance of green bonds?

    Does the framework refer to existing standards (e.g., ICMA’s Green Bond Principles or CBI’s Climate Bonds Standard)?

    Does the framework recommend external party verification (e.g., second party opinion, assurance, certification)?

    Answer Source Reference
    • (1) 3.1.1 Sustainable/Green loan

    • (1) 3.1.3 Sustainable/Green Bond

    • (1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

    • (1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

Source Reference
(1) 3.1.1 Sustainable/Green Loan

Innovate loan/saving products for energy efficiency, green building, green urban infrastructure, water saving and efficiency, and climate-smart agriculture through project loans, corporate loans, green mortgage loans,

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)Download

Source Reference
(1) 3.1.1 Sustainable/Green Loan (1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

- Develop sustainable saving products to mobilize small savings for sustainable activities

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)Download

Source Reference
(1) 3.1.2 Sustainable/green leasing (1) 3.1.5 Other sustainable/green products

- Explore a sustainable model of leasing that could extend the lifecycle of equipment, machinery and appliances to promote a circular economy and sustainability - Explore specialized investment instruments to mobilize savings/assets and catalyze them towards sustainable investments - Explore insurance solutions for environmental risks and social inclusion. These could include climate and disaster insurance, crop insurance and home insurance to protect farmers and homeowners especially against the loss of crops and damage to property due to natural disasters. Pollution liability insurance could also be developed to better manage environmental risks and reduce losses from environmental pollution

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)Download

Source Reference
(1) 3.1.1 Sustainable/Green loan

The banking sector plays a critical role in Sri Lanka’s financial system and is regarded with high capacity to mobilize financial resources to support sustainable development. Activities that could further the greening of the banking sector include

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)Download

Source Reference
(1) 3.1.3 Sustainable/Green Bond

The global green bond market has grown rapidly in the past years and provides investors a new way to meet green investment goals

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)Download

Source Reference
(1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

Such guidance and tools should take into account both local sustainable development needs and international standards and principles such as those by Climate Bonds Initiative (CBI) and International Capital Market Association (ICMA)

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)Download

Source Reference
(1) 3.1.3 Sustainable/Green Bond - For regulators and stock exchange

Encourage the adoption of external verification, which could benefit green bond issuance by increasing investor confidence in the environmental credentials of the marke

Roadmap for Sustainable Finance in Sri Lanka (CBSL, 2019)Download

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