By: Staff Writer
June 07, Colombo (LNW): A comprehensive overhaul of Sri Lanka’s National Green Reporting System (NGRS) is set to place greater emphasis on corporate transparency, environmental responsibility, and sustainable business practices as international markets increasingly prioritise sustainability credentials.
The revised guidelines, launched by President Anura Kumara Dissanayake at the National Environment Day event held at Temple Trees, represent the latest outcome of collaboration between the Ministry of Environment, the European Union, and the United Nations Industrial Development Organisation (UNIDO). The initiative was implemented through the European Union-funded Accelerating Industries’ Climate Response in Sri Lanka (AICRSL) project.
At the centre of the revision is an effort to align Sri Lanka’s sustainability reporting framework with globally accepted standards. The updated guidelines are based on the Global Reporting Initiative (GRI), providing organisations with internationally recognised methods for reporting environmental, social, and governance (ESG) performance.
The original NGRS was introduced in 2011 through the EU-supported SWITCH-Asia Programme. However, the sustainability landscape has changed dramatically over the past decade. Businesses today face growing pressure from investors, regulators, consumers, and trading partners to provide transparent information about their environmental impact, labour practices, governance structures, and climate-related risks.
Officials involved in the revision argue that maintaining outdated reporting systems could leave Sri Lankan companies vulnerable to emerging international compliance requirements. By adopting a framework compatible with global reporting expectations, the country aims to ensure local businesses remain competitive in export-driven industries and continue to access international markets.
European Union Head of Cooperation Dr. Johann Hesse highlighted the strategic importance of the revision, noting that robust ESG reporting is becoming a prerequisite for doing business in many global markets. He stressed that internationally comparable sustainability data would help Sri Lankan organisations demonstrate compliance with evolving environmental and social standards while preserving valuable trade opportunities.
The revised NGRS is designed as a practical and voluntary platform for organisations operating in manufacturing, commercial, and service sectors. Businesses using the framework will be able to systematically assess sustainability performance, identify operational improvements, and communicate their achievements to investors, regulators, and consumers.
Experts suggest that greater transparency can deliver benefits extending beyond regulatory compliance. Strong sustainability reporting can improve risk management, enhance corporate reputation, strengthen stakeholder confidence, and support long-term business resilience. It may also open new avenues for investment, particularly from institutions that increasingly evaluate ESG performance before making funding decisions.
AICRSL Chief Technical Specialist Dr. Jagathdeva Vidanagama described the launch as evidence of Sri Lanka’s determination to pursue climate-resilient economic growth. He noted that the revised reporting system offers organisations a practical pathway for aligning with international standards while contributing to broader national sustainability goals.
As climate concerns and sustainability requirements continue to influence global trade and investment decisions, the revamped National Green Reporting System could become a key instrument in helping Sri Lankan businesses adapt to changing expectations and secure their place in an increasingly sustainability-conscious world.