European Chamber Report: Diversity, equity and inclusion crucial for Sri Lanka’s socio-economic development

Sri Lankan businesses must look beyond the surface to design Diversity, Equity and Inclusion (DEI) strategies that consider broader complexities, if they are to achieve tangible and transformative business results and greater social harmony, says a new landmark report that provides recommendations for businesses to harness the potential of DEI.

The new report “Unlocking the Power of DEI: Diversity, Equity, and Inclusion as a Strategic Imperative for Business Success and Social Harmony” was conducted by the European Chamber of Commerce of Sri Lanka (ECCSL) in partnership with the Strengthening Social Cohesion and Peace in Sri Lanka (SCOPE) program which is co-funded by the European Union and German Federal Foreign Office. The study is an exploratory exercise based on an extensive literature review and interviews with 41 diverse businesses in all nine provinces of Sri Lanka. The study and dialogue at the event aimed to shed light on best practices and how businesses can leverage on existing know how to grow their business potential in modern markets.

The study aligns with the Government’s new Strategy to Promote Inclusive and Sustainable Businesses to Achieve the Sustainable Development Goals in Sri Lanka (ISB Strategy), which was also presented at the event by Chamindry Saparamadu, Director General and CEO of the Sustainable Development Council.

The study was officially presented to the Minister of Justice, Prisons Affairs and Constitutional Reforms, Min. Wijeyadasa Rajapakshe and the Minister of Foreign Affairs, Ali Sabry, as well as Carmen Moreno, Ambassador, Delegation of the European Union to Sri Lanka and the Maldives. The event was also attended by a cross section of Sri Lanka’s businesses as well as government, non-government and international development representatives involved in supporting inclusive economic growth in Sri Lanka.

Speaking at the event, . Carmen Moreno emphasized that “We must all play a part in promoting inclusion and equality. Governments and the public sector must adopt and implement the necessary legislation and public policies to combat all forms of discrimination and promote social justice. But also, the private sector has an essential role to play in building social cohesion and inclusion, starting at the workplace.” She further stated ” Improving business performance is an imperative at a time of crisis, and the report presented today shows clearly the linkages between economic growth, inclusiveness and social justice and the opportunities for businesses in Sri Lanka to embrace diversity and contribute to build a more resilient and prosperous society”.