December, 6, 2017
The International Finance Corporation (IFC) has estimated that Sri Lanka can envisage a total climate-smart investment opportunity of USD 18 billion during 2018 to 2030.
In a survey conducted under the theme ‘Climate Investment Opportunities in South Asia’ it states that Sri Lanka has an USD 2.5 billion investment opportunity for Renewable energy power generation.
The IFC says that USD 8.4 billion opportunity has opened up for Green Buildings. This is to meet the government’s policy objective of conservation and effective use of energy, as well as the country’s housing and commercial construction needs.
The country has an internal labeling system for buildings, in addition to 78 buildings registered or certified through international channels. As a result, both commercial and residential green penetration is forecast to be higher than other countries in the region.
Another mega sector for investment is in the transport infrastructure sector where the estimate is USD 326 million to catalyze a modal shift towards mass public transport.
Another area where an USD 2.7 billion opportunity awaits is climate-smart unban water and wastewater management.
ITF predicts that USD 3.5 billion opportunity waits for municipal solid waste management.
The collapse of a waste dump in Colombo in 2017 has led to a surge in efforts to address solid waste management issues in Sri Lanka.