FINANCIAL CHRONICLE – A project funded by the European Union is currently underway to update the National Green Reporting System (NGRS) guidelines in Sri Lanka. This initiative aims to assist both public and private entities in effectively monitoring and reporting their environmental, social, and governance (ESG) data.
The project, titled ‘Accelerating Industries’ Climate Response in Sri Lanka (AICRSL),’ is managed by the United Nations Industrial Development Organization (UNIDO). The newly revised guidelines will align with globally recognized sustainability reporting frameworks, thereby enhancing transparency, accountability, and sustainability performance within Sri Lanka’s various sectors.
Initially launched in 2011 as part of the SWITCH-Asia Programme, the NGRS has undergone modernization to stay in step with current international sustainability reporting standards, as stated by the EU Delegation in Sri Lanka. The updated guidelines are grounded in the standards set by the Global Reporting Initiative (GRI).
Dr. Johann Hesse, Head of Cooperation at the European Union Delegation to Sri Lanka, remarked, “By aligning the National Green Reporting System with globally recognized frameworks such as the Global Reporting Initiative, we are equipping Sri Lankan companies to produce reliable and comparable ESG data. This will enable them to comply with evolving EU and global sustainability standards while maintaining and enhancing their access to lucrative international markets.”
The NGRS serves as a valuable resource for organizations in manufacturing, commerce, and services, allowing them to assess, manage, and publicly share their sustainability outcomes. This system is designed to help businesses boost operational efficiency, build trust among stakeholders, attract investments, manage risks more successfully, and uncover new market opportunities.
Jagathdeva Vidanagama, Chief Technical Specialist of the AICRSL Project, stated, “As international markets increasingly prioritize transparency and sustainability, the NGRS offers Sri Lankan organizations a practical route to meet global standards, enhance their competitiveness, and make significant contributions to both national and global sustainability objectives.”
