INSUBCONTINENT EXCLUSIVE:
The Secretary of the Ministry of Environment, Dr
Anil Jasinghe underscored the significance of the Joint Crediting Mechanism (JCM), which serves as a gateway for collaboration with the
Japanese government and the private sector in green initiatives.Dr
concept of carbon credits, the PMD said in a statement.Additionally, Dr
Anil Jasinghe highlighted that the Sri Lankan government, in partnership with the international community, is actively taking measures to
reduce the impact of climate change
These measures aim to provide relief to those affected by natural disasters, including farmers.Moreover, he disclosed that, in line with
addressing climate change-related challenges like droughts and floods, it added.Dr
adhering to established norms
However, the emergence of climate change has disrupted this pattern, introducing an unpredictable element
If this trend continues unchecked, we can anticipate a rise in both weather and climate fluctuations, leading to an increase in natural
disasters.The industrial revolution triggered the gradual escalation of fossil fuel consumption, which has now reached its zenith
Among the pollutants released, carbon dioxide emissions are identified as the primary driver of climate change
Consequently, we are witnessing global temperature rises, the melting of glaciers, sea-level elevation, and shifts in climate zones across
This translates to amplified rainfall in already high-rainfall areas and exacerbated droughts in arid regions, causing significant
alterations in biodiversity.For countries like Sri Lanka, the impact is disproportionately severe
While our contribution to fossil fuel consumption and greenhouse gas emissions is minuscule on the international scale, environmental
As an island nation and a small country, we bear the brunt of the consequences caused by the activities of larger nations more than they
do.If left unaddressed, projections indicate that certain areas of the Jaffna Peninsula may become submerged by 2090, with the intrusion of
saltwater severely affecting agriculture.Internationally, countries collaborate through initiatives like the Climate Change Conference (COP)
Each nation presents its National Determined Contributions to tackle climate change.Our focus must centre on disaster mitigation,
resilience-building in the face of calamities and disaster response strategies
Sri Lanka has the potential to pivot toward renewable energy sources such as solar, hydro and wind power, thus curbing greenhouse gas
instigating transformative change in addressing climate change
President Ranil Wickremesinghe consistently championed this cause not only at this conference but also on various international platforms
After years of tireless efforts, a committee has been convened to present a report concerning the establishment of an international fund to
address climate-related disasters at the United Arab Emirates Climate Change Conference scheduled for next December.Various mechanisms for
financing climate change mitigation have surfaced
The largest fund globally designated for this purpose is the Global Climate Fund, operating within the United Nations Climate Change
Prominent nations worldwide pledged an annual addition of $100 billion each, a promise they have regrettably failed to fulfil.Furthermore,
alternate means of financing our climate action and renewable energy endeavours exist, such as carbon finance
This carbon mechanism was adopted by all 194 countries worldwide several years ago, with President Ranil Wickremesinghe taking the lead in
initiatives to generate income for our nation through this mechanism
Under this framework, Sri Lanka and Japan entered into an agreement known as the Joint Crediting Mechanism (JCM).This agreement involves
Japanese companies collaborating with Sri Lankan counterparts to invest in projects aimed at reducing greenhouse gas emissions, with
contributions from both Japanese companies and the Japanese government
Primarily, these investments focus on the renewable energy sector, reducing reliance on fossil fuels like diesel
This initiative has given rise to the concept of carbon trading, which has gained significant traction.Through the JCM, we have gained
access to financial resources, technology and capacity building through Japanese investments
This provides us with the opportunity to obtain long-term economic benefits without the need for power plants, technology, or the burning of
Simultaneously, our Japanese partners receive a share of the profits from carbon trading as they invest in these projects
Currently, two projects are under discussion within the JCM framework
Additionally, our agreement with Singapore includes methods for greenhouse gas absorption.At the directive of President Ranil
Wickremesinghe, we are actively engaged as a climate justice collective at the COP 28 summit, advocating for the comprehensive loss and
encompasses all aspects of formulating a National Climate Change Act
These initiatives are also integrated into the National Environmental Action Plan developed approximately two years ago
All these endeavours are intended to be executed in a legal, transparent and meticulously structured manner, ensuring maximum benefits with
The more we safeguard the environment, the better equipped we are to mitigate the challenges and disasters stemming from climate change
