SL carbon trading policy on the way
Sri Lanka is now preparing a carbon trading policy and guiding principles, aimed at promoting projects that reduce greenhouse gas emissions, top officials said.
“It is now under review by an expert panel. We don’t have a lot with regards to carbon training, and we are awaiting cabinet approval of this draft after public consultation is sorted,” an official from the Ministry of Environment told The Sunday Times Business. He added that the ministry has done a series of awareness campaigns on this. With this, a carbon credit exchange will be launched, which will further enhance the trading and transparency of carbon credits within the country, he said. He added that, with companies increasingly participating in carbon offset programmes to meet regulatory requirements and align with international environmental standards, the ministry is looking to launch a national green reporting initiative as well. It will include energy, waste management, resources, guidelines, etc.
The Sri Lanka Climate Fund plays a major role in facilitating carbon credit trading through the Sri Lanka Carbon Credit Scheme. This scheme allows companies to earn carbon credits by reducing emissions through projects such as renewable energy and reforestation which can then be traded or used to offset their own carbon footprint.
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