Business
Launch of CSE Sustainability Reporting Guide & awareness session
The Colombo Stock Exchange (CSE), in collaboration with the Global Reporting Initiative (GRI), developed the 3rd version of the sustainability reporting guide, which was ceremonially launched at the Market Opening Bell Ringing ceremony held at the trading floor of the CSE. The publication is now available at www.cse.lk.
Delivering the keynote address at this ceremony, Faizal Salieh, Chairman, Securities and Exchange Commission of Sri Lanka (SEC), emphasized that “Sustainability reporting and disclosure have become the fastest-growing non-financial reporting type over the past 10 years. About 96% of the largest 500 companies by market cap had published sustainability reports in 2022. And the figure is up from 86% in 2018. Many more companies have adopted sustainability reporting over the past two years.”
“One of the most widely recognized sustainability reporting standards is the GRI standard. The GRI standards are designed to help organizations respond to emerging information demands from stakeholders and regulators and are regularly reviewed to ensure they reflect global best practices on sustainability reporting. The benefits of sustainability reporting will help companies gain a foothold in the future economy, and it will lead to new and improved products, services, and business models. That, in turn, will attract more customers and improve the financial performance of companies.”
Dilshan Wirasekera, Chairman, Colombo Stock Exchange, speaking at the event, said, “As the Colombo Stock Exchange, we are proud to introduce the 3rd version of the guidance document aimed at fostering sustainability reporting among our listed companies. Embracing sustainability not only ensures responsible business practices but also drives long-term value creation. This initiative aligns with our commitment to cultivating a thriving, sustainable market that benefits all stakeholders—companies, investors, and the community alike.”
Dr. Aditi Haldar, Director, GRI South Asia, made her observations at the event and said, “Our latest guidance document for listed companies in Sri Lanka on communicating sustainability represents a significant evolution, seamlessly incorporating the perspectives and standards set by the Global Reporting Initiative. This comprehensive resource offers a panoramic overview of the sustainability reporting landscape and its fundamental principles. Beyond being an informative tool, it serves as a compelling catalyst, inspiring Sri Lankan companies to embark on their sustainability reporting journeys and encouraging others to enhance their existing practices.”
To coincide with the launch of the CSE Sustainability Reporting Guidelines, the CSE, in collaboration with GRI South Asia, also organized an informative knowledge session focused on Corporate Sustainability Reporting in Sri Lanka for the representatives of listed companies. This session aimed to provide an outline of the existing standards and valuable insights into the latest developments in standards, offering a comprehensive overview. The session, facilitated by Mr. Rahul Singh, Manager at GRI South Asia, was designed not only for established GRI reporters but also to support preparers embarking on their sustainability reporting journeys.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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