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Home Business & Finance Economic Policies

Sri Lanka forum seeks private sector engagement in climate-smart agriculture todayheadline

February 6, 2025
in Economic Policies
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ECONOMYNEXT – A public-private-people forum was held in Colombo to address challenges in Sri Lanka’s agriculture sector through climate-smart solutions.

The Catalyzing Climate-Smart Agriculture forum “served as a strategic platform to facilitate dialogue and collaboration aimed at overcoming barriers to private sector engagement in climate-smart agriculture,” the Food and Agriculture Organization of the United Nations (FAO) said in a statement.

“Sri Lanka’s agriculture sector stands at a crossroads. Through collaborative efforts like this Forum, we can drive sustainable, climate-resilient growth that safeguards livelihoods and ensures food security for future generations,” Nalin Munasinghe, Assistant FAO Representative (Program), said.

Representatives from the private sector, government, civil society, and international organizations participated in the forum, which was organized by the Ministry of Environment and the FAO.

“By uniting the expertise and resources of the public, private, and community sectors, we can unlock innovative solutions to build resilience in agriculture and secure sustainable livelihoods for millions of Sri Lankans,” Dr R D S Jayatunga – Additional Secretary, Ministry of Environment, said.

Discussions focused on policy, regulatory, and fiscal reforms, along with digital innovations, to enhance resilience, reduce emissions, and support national climate goals.

Sessions highlighted key challenges, including erratic rainfall, prolonged droughts, temperature rise and pest outbreaks, which have disrupted agricultural productivity.

Participants validated findings of the comprehensive “Barriers Assessment” and explored actionable solutions to mobilize private sector investments, the FAO said.

Proposed measures included tailored policy reforms, financial incentives, and enhanced coordination mechanisms to align investments with global financing opportunities and local needs.

The forum proposed an actionable roadmap designed to:

– Address barriers limiting private sector investment;
– Foster public-private-community collaboration;
– Leverage international climate financing;
– Develop digital systems to streamline efforts and scale up best practices in climate-smart agriculture.

The roadmap also emphasized the establishment of a Private Sector Working Group to sustain momentum and ensure continued dialogue and collaboration among stakeholders.

The forum featured expert presentations on global best practices, including insights from the Climate-Smart Agriculture Investment Plan.

The outputs of the Forum will inform ongoing and future initiatives to strengthen Sri Lanka’s agriculture sector, with a focus on fostering resilience, promoting sustainable practices, and achieving national climate commitments. (Colombo/Feb6/2025)

Tags: AgricultureclimatesmartengagementforumLankaprivatesectorseeksSritodayheadline
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