Sri Lanka has taken a significant step towards strengthening sustainable and responsible corporate practices with the launch of the Responsible Business Coalition, marked by a ceremonial “Ring the Bell for Responsible Business” event at the Colombo Stock Exchange (CSE).
The initiative, convened by UN Global Compact Network Sri Lanka, was launched during the visit of Sanda Ojiambo, CEO and Executive Director of the UN Global Compact, bringing together business leaders, listed companies, professional bodies, industry associations and think tanks.
Ojiambo joined senior CSE leadership to ring the opening bell, highlighting the increasingly important role of capital markets in promoting sustainability, transparency, good governance and progress towards the Sustainable Development Goals.
Addressing the event, Ojiambo emphasised that responsible business has evolved beyond conventional corporate responsibility to become a strategic imperative for competitiveness, resilience and long term value creation. She highlighted the UN Global Compact’s Ten Principles as a framework through which companies can translate sustainability commitments into meaningful action.
CSE CEO Rajeeva Bandaranaike welcomed the initiative, highlighting the importance of good governance, transparency and sustainable business practices in strengthening investor confidence and supporting resilient economic growth.
The newly established Responsible Business Coalition aims to integrate responsible business principles beyond sustainability functions and into boardrooms, executive leadership and professional development. Its activities will include advocacy, strategic engagement, technical capacity building and shared learning.
Founding members include the Sri Lanka Bankers’ Association – Sustainable Banking Initiative, Sri Lanka Institute of Directors and Centre for Smart Future, while the CSE and Ceylon Chamber of Commerce are among institutions working towards founding membership.
The initiative signals a broader effort to position responsible corporate conduct at the heart of Sri Lanka’s future economic and business development.
