INSUBCONTINENT EXCLUSIVE:
Sri Lanka needs $100 billion to become a net zero emitter by 2040, President Ranil Wickremesinghe said on Tuesday, as the island also
attempts to build climate change resilience while navigating its worst financial crisis in decades.Sri Lanka will focus on green financing
tools, including debt for nature swaps as it attempts to reach the net zero target, Wickremesinghe told Reuters in an interview
we have an early start compared to others
We may invite in foreign investments
of India with a population of 22 million, is struggling to emerge from its worst financial crisis in decades after a severe shortage of
foreign exchange reserves shattered the economy last year.The island also faces the challenge of building more resilience to climate change
It is among countries most affected by extreme weather events and is expected to see a 1.2% annual GDP loss by 2050 due to climate change,
according to the World Bank.It is estimated that close to 19 million Sri Lankans may live in areas that could become moderate or severe
hotspots in terms of floods or droughts by 2050.Sri Lanka will set out two regional proposals at the U.N climate summit COP28, taking place
12 in Dubai, which it hopes will focus on linking countries in the tropical belt to collectively combat climate change and promote the
fix it in the tropical belt
change.Sri Lanka will also propose setting up an international climate change university and is willing to allocate 600 acres (240 hectares)
for the project to promote research on global climate change policies.Source: Reuters--Agencies
