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| Sunday, 26 March 2006 |
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Ensuring environmentally sustainable development an uphill task - Peter Harrold by Lalin Fernandopulle The Yale Sustainability Index 2005, which compares the economic growth of countries indicates that Sri Lanka's economic growth may not be environmentally sustainable. If this trend continues Sri Lanka's long term economic growth will be threatened, Country Director World Bank Peter Harrold said. He was addressing the Sustainability Reporting Awards ceremony of the Association of Chartered Certified Accountants (ACCA) in Colombo on Thursday. The ACCA Sustainability Awards 2005 were awarded to John Keells Holdings and Diesel and Motor Engineering Company Limited (DIMO). He said, "Sustainable development is not only ensuring the welfare of the present generation but also the future generation. The corporate sector should not compromise with environmental concerns, Harrold said. He said that Sri Lanka has been a leader in South Asia to integrate environmental concerns into the development planning process. "In 1992 Sri Lanka led the Asian region in preparing a National Environmental Action Plan (NEAP) which was the country's plan for sustainable development. While significant strides have been made, ensuring environmentally sustainable development is an uphill task, he said. Sri Lanka has to make renewed efforts to achieve the Millennium Development Goal 7 (MDG). He called upon the private sector, a key stakeholder in the process to look beyond short term financial gains and integrate environmental concerns into their plans. ACCA Sri Lanka President U. H. Palihakkara said the objective of the awards is to recognise and reward organisations that report environmental and social sustainability information within Sri Lanka. It is to create awareness in corporate transparency and increase accountability among stakeholders. |
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