GSS + Bonds’ amendments approved by SEC
Proposed amendments to Listing Rules on Green, Blue, Social, Sustainability, and Sustainability-linked Bonds (collectively called GSS + Bonds) were approved by the Securities and Exchange Commission (SEC) at the recent Commission Meeting.
The ADB is providing technical support to potential GSS+ bond issuers to develop or review sustainable finance frameworks to ensure alignment with international standards and practices, Dr. Hareendra Dissabandara, Chairman SEC, told The Sunday Times Business recently.
The new GSS+ rule revision requires issuers under the Central Bank of Sri Lanka’s Green Finance plan to adhere to international principles and standards. “To unleash sustainable finance in its full potential in the local market, enhancing sustainable finance literacy among investors is crucial,” Dr. Dissabandara said. Fund managers and market intermediaries should join efforts to attract large international and local funds towards the GSS+ product suite enabled at the CSE, he added.
Strengthening awareness-building initiatives for both issuers and investors, effective monitoring of international principles and standards, and fostering sustainable financial market development require a comprehensive approach from regulators, policymakers, issuers, and capital market stakeholders.
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