BSL attended a discussion, chaired by Mr. Anura Dissanayake, Secretary to the Prime Minister along with many other distinguished guests, which was held recently, on the contributions of the Private Sector, Non-Governmental Organizations, and Civil Organizations towards achieving Sustainable Development Goals (SDG) with a special focus on Biodiversity Conservation and Climate Change Mitigation.
Mr. Anura Dissanayake, Secretary to the Prime Minister
Sri Lanka has not been able to accurately report on SDGs and biodiversity-related targets and achievements. Therefore, corrective action is needed to rectify the situation by establishing a mechanism for reporting on more holistic stakeholder contributions including Government, Corporate Sector, non–Governmental Sector, and Community-based Organizations accurately.
BSL, with a membership of approximately ninety (90) private sector corporate bodies, is using an integrated common Data Portal to upload details of member investments and contributions to biodiversity enhancement and all related activities. Thereby, a clear understanding of the contributions made towards biodiversity protection and climate change mitigation by its membership is centralized. It was noted that if the requirements of the Government can be aligned with the established reporting criteria such as ‘Global Reporting Initiative (GRI)’ criteria, it will be much easier to absorb all relevant national data from Private Sector initiatives. The ‘Data Gap’ can also be addressed by maintaining a more comprehensive data system. UNDP assistance could be possible to access to address this data gap.
Mrs. Shiranee Yasaratne – Advisor, Biodiversity Sri Lanka
SLASSCOM is actively engaged in promoting a number of biodiversity and SDG-related initiatives including e-waste management processes, the use of renewable energy, the creation of methods of working from home by reducing transportation which ultimately contributes to energy conservation, and the implementation of flexible working hours, etc. these measures ultimately promote sustainable development practices in their member institutions in the IT sector. It was also noted that a proper and accurate reporting system should be followed as a nation so that external parties can understand the positive steps that Sri Lanka has adopted so far toward achieving the SDGs. The process should be promoted through digital media platforms to attract investors to Sri Lanka which could result in additional Foreign Direct Investments (FDI’s).
Virtusa (Pvt) Ltd presented the “Environmental Social Governance (ESG)” reporting system and the “United Nations Global Compact” Principles at this discussion. The steps that Virtusa has adopted in their reporting process while following GRI standards were described. Accordingly, Virtusa (Pvt) Ltd has effectively contributed toward 12 out of the 17 SDGs through these practices. Virtusa is also following Carbon Footprint Reduction Programs, the Zero Single-use Plastic System, the use of Renewable Energy, the motivation of employees towards SDG, and the Policy of avoiding Bribery and Corruption, etc. It was also stated that as a nation, both Public and the Private Sector should take necessary action to implement clear SDG implementation methods at least now, as the country is gradually trying to revive from the ongoing financial crisis. It was suggested that imposing new regulations to ensure that every company should invest a certain percentage (3%) of its net profit in Corporate Social Responsibility (CSR) initiatives would promote the achievement of SDG targets.
The biodiversity division of the Ministry of Environment is in the process of developing a “Bio Diversity Expenditure Tracking Tool” and it includes the SDGs national target as well as the contribution of the Private Sector. Alliance Finance Company PLC, as a socially responsible corporate body, is using the “Sustainability Standards and Certification Initiatives (SSCI)” platform to integrate sustainability into every aspect of their business with positive and measurable outcomes. He further mentioned that the M/s Alliance Finance is approximately covering 76% of the 17 SDGs by performing actively in achieving financial sustainability by aligning the SDGs with its corporate Vision and Mission. It was suggested that standards are much more essential than guidelines in achieving the SDGs and recommended that those standards be based on social dimensions with a primary focus on the Environment and Society. The private sector should be encouraged to adapt to the proposed standards by the government so that tendency of Private Sector institutions to adapt to the relevant standards will increase.
The Director General – Sustainable Development Council suggested that the composition of the Steering Committee appointed to engage the Private Sector’s contribution to SDGs should be expanded as necessary to incorporate the above suggestions
