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President highlights Global North’s failure in climate change financing

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President Ranil Wickremesinghe delivered a compelling speech at the 10th World Water Forum, held in Bali, Indonesia today (May 20), highlighting the stark contrast between global funding priorities, pointing out the willingness of the Global North to fund death and destruction in Ukraine while showing reluctance to finance measures to combat climate change.
Accordingly, President Wickremesinghe proposed a 10% levy on the annual profits of global tax evasion assets deposited in tax havens, estimated at $1.4 trillion annually. He suggested that funds raised through this levy could support Blended Finance projects focused on climate change adaptation and mitigation.

In his opening remarks, President Wickremesinghe extended his gratitude to President Joko Widodo of Indonesia for hosting the event, which centres around the theme “Water for Shared Prosperity.” He praised Indonesia for its leadership in promoting the “Sustainable Management of Lakes” resolution at UNEA-5, emphasizing the collective responsibility in managing water resources, essential for all life and ecosystems.

Following is the speech delivered by President Ranil Wickremesinghe;

At the outset let me thank the President of the Republic of Indonesia, H.E. Joko Widodo for hosting the 10th World Water Forum in Bali. The theme ‘Water for shared prosperity’ focuses on collective responsibility in managing water resources, the life blood of all living beings and ecosystem services. This follows the “Sustainable Management of Lakes” Resolution proposed by Indonesia at the UNEA-5.

During the UNEA -6 held this year, the European Union together with Sri Lanka brought about the resolution “6/13 Effective and inclusive solutions for strengthening water policies to achieve sustainable development in the context of climate change, biodiversity loss and pollution”.

I also take this opportunity to congratulate the Government of Indonesia for taking the initiative during the G20 Presidency to launch the Global Blended Finance Alliance. Sri Lanka expresses its willingness to become a pioneering member.

Climate Change and water stress are two sides of the same coin. The cumulative effects of Climate Change are the main reason for what we see today as the water resource crisis. According to IPCC projected climate scenarios till 2090, Sri Lanka’s dry zone will get drier and the wet zone will get wetter in an unprecedented manner. Sea level rise will cause salt water intrusion in coastal areas resulting in salinization of land. I took this example from Sri Lanka while appreciating the fact that this is what is happening all over the world.

In global terms the solution to water stress revolves around climate mitigation and adaptation. Combating the triple planetary crisis with specific measures aiming at water. In the Nationally Determined Contributions water is classified under the adaptation sectors. On the other hand, mitigation is equally important as emissions are the root cause. Combating the threats to water resources posed by climate change requires colossal amounts of financial resources.

The Global North has failed miserably in adhering to the commitments to provide financial resources for Climate Change. There is a notable lack of political will after the euphoria of the Glasgow COP was over. Climate Change denial is gaining ground in the West.

The establishment of the Loss and Damage Fund, after a long drag, if effectively implemented can help to bridge the gap. This is a big IF. The Summit for a new Global Financing Pact will hopefully reach a conclusion by September this year. Nevertheless, the final outcome will depend on the results of the US Presidential Elections in November.

The OECD in 2021 projected the investment for global water related infrastructure at US $ 6.7 trillion for 2030 and US$ 22 trillion for 2058. The UNEP Report 2023 “Underfinanced – Underprepared” estimate the under financed gap to combat climate change at US$ 194 – 366 billion per year. The Global North is willing to fund death and destruction in the Ukraine. But there is an unwillingness to fund measures to avoid death and destruction caused by climate change.

Since money is not coming our way in anticipated amounts and at anticipated pace, to overcome the resource gap, Sri Lanka presented to COP 28 the Tropical Belt Initiative. A novel concept of harnessing commercial investments in the natural forests, mangroves, swamps, grassland water bodies and other natural resources in the Tropical Belt towards tackling the triple planetary crisis. The Tropical Belt from the time of its existence has been a ‘shield’ for the whole world. It is a catalytic accelerator of solutions to the ongoing triple planetary crisis. Investment in the tropical belt will bring in transformative changes to combat the triple planetary crisis.

In this context, the Initiative on Global Blended Finance will enable the Global South to mobilise the much needed financial resources. The US$ 9.4 billion available to commence this fund is a good example of leveraging concessional finance. The Tropical Belt Initiative will also benefit from this facility. In this context Sri Lanka proposes a 10% levy on the annual profits of global tax evasion assets deposited in tax havens. The annual profits are estimated at US$ 1.4 trillion per annum. The levy can be enforced by imposing sanctions, similar to those imposed on Russian Banks on the Banks and the Financial Institutes which fail to implement the levy. The monies raised by these levies to be made available to be utilised by the Blended Finance projects on Climate Change adaptation and mitigation.

The Global Blended Finance initiative is a supplement to the Loss and damage funds – not an alternative. These two measures must work in tandem. Therefore at this forum, let us express our appreciation for the hard work done by Indonesia in proposing this Initiative at the G20 culminating the establishment of the Alliance Secretariat.

Again, our thanks to President Joko Widodo for his contribution both in respect to the management of water resources and for bringing together the Global Blended Alliance.”

The World Water Summit, themed “Water for Common Prosperity,” began on May 18 in Bali, Indonesia, bringing together world leaders, experts, academics, entrepreneurs, and policymakers. The conference aims to unite nations in a collaborative effort to address global water issues.

Since its inception in 1997, the World Water Summit has been held every three years, serving as a premier platform for countries worldwide to share experiences and knowledge on best practices for water management. The summit facilitates dialogues among stakeholders on water, sanitation challenges, and sustainable development goals.

This year’s event sees the participation of key United Nations organizations, including the United Nations Economic and Social Commission for Asia and the Pacific, the United Nations Food and Agriculture Organization, the United Nations Environment Programme, the United Nations Development Programme, the United Nations Educational, Scientific and Cultural Organization, the United Nations International Children’s Fund, the United Nations Industrial Development Organization, and the United Nations Climate Change Organization.

Meanwhile, Indonesian President Joko Widodo hosted a dinner at the Bali Cultural Park yesterday (19) for the heads of state and representatives attending the conference. President Ranil Wickremesinghe was also in attendance.

(President’s Media Division)

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Let us vow never to permit division again – President (Pics)

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To the parents and wives of our fallen war heroes, I say this; you have made tremendous sacrifices, giving up your children and husbands to bring peace to this homeland. You are remarkable mothers and exceptional wives. What should be the genuine result of that sacrifice? The highest form of justice we can provide for your child, husband, friend or relative is to create enduring peace in this nation.

Standing before this memorial and paying proper respect is not just an act of remembrance, it is a solemn pledge. A pledge that we will not allow conflict to rise again and that we will build a society of unity, love and brotherhood instead of one filled with hatred and division, said President Anura Kumara Disanayake.

The President made these remarks yesterday afternoon (May 19), addressing the 16th War Heroes’ Commemoration Ceremony held at the War Heroes’ Memorial in Battaramulla.

Addressing the event, President Disanayake said;

“For decades, our nation endured the horrors of war. This conflict, which inflicted immense suffering on our people and land, was brought to an end years ago. Today, we honour the brave military personnel and officers who sacrificed their lives to achieve this peace. This day holds profound historical significance.

This commemoration is not merely a remembrance of the war’s conclusion but also a pledge to unite all communities, Sinhala, Tamil, Muslim, Burgher and Malay, in building a nation rooted in brotherhood and harmony, rather than allowing divisions to reignite.

Many soldiers sacrificed their lives to bring this war to a conclusion. Their names etched on these memorial stand testament to their sacrifice. Many others were left permanently disabled, while thousands of families still grieve the loss of loved ones. As a nation, we owe them an eternal debt. Their legacy binds us in gratitude and duty.

Yet ‘war’ is synonymous with tragedy and devastation. Those who fought did not seek war for its own sake; they sought peace. Today, we witness the remnants of this devastation, children orphaned, parents bereaved and spouses widowed. Across our land, from North to South, grief knows no ethnicity.

Children who have lost their fathers, parents mourning their children and wives grieving for their husbands continue to live in this homeland, filled with sorrow. I understand that many are looking for their loved ones’ names be it their son’s, husband’s, or child’s among those engraved on these memorial boards. We are aware of the deep suffering experienced by our mothers, wives and children. They seek their relatives with a sense of pride, yet are burdened by their grief. This is the reality of war.

War is a tragedy. As a nation that has endured this immense sorrow, it is our duty to ensure that such a conflict does not arise again. We must strive to build a society characterized by peace, unity and compassion, replacing suspicion, anger and hatred with brotherhood and love.

Not only in the South, but also in the North, people hold up photographs of their husbands and children on the streets and mourn their deaths. To every parent, their child is precious. So, as a country that has faced such a massive tragedy, our responsibility today is to prevent such a war from happening again in our country.

Our predecessors endured conflict; ours is a generation still grappling with its residual divisions. But we must resolve to leave our children a nation free from strife, a society anchored not in power struggles but in justice.

What lessons do history, marked by its profound tragedies teaches to us? It serves as a powerful reminder that we must prevent such circumstances from recurring in our nation. The past does not indicate that the next generation should be thrust into another war; rather, it illustrates the possibility of a peaceful existence.

This memorial reminds us that true homage lies in forging unity. Let us vow never to permit division again. Instead, let us build a society where brotherhood triumphs over enmity.

Today, I met soldiers who have spent decades confined to beds, some since 1996 or even 1988. Their tears speak where words fail. We must end this cycle of tragedy. Our duty is to bequeath future generations a united nation, not one fractured by exploitation of ethnic tensions for political gain.

At present it is evident that conflicts, racism and extremism have been strategically exploited at various times to acquire sustain and strengthen power. These issues have not emerged naturally; rather, they have been manipulated to secure authority and to obscure the wrongdoings committed.

There is no justification for the Field Marshal to be incarcerated for over two and a half years. At that time, he and I shared a close relationship. It was power that prevailed, rather than law or justice. History has exploited these conflicts and wars to seize and strengthen power. Our children in both the North and the South have suffered as a result.

The ordinary sons and daughters of mothers and fathers from our villages lost their lives in a war for which there was no legitimate reason, no credible justification and no sincere effort to prevent. That is why we must deeply understand that war is a tragedy. War is destruction. Yet, there are some those repeatedly rejected and defeated who continue to view war as something to be desired, as a thrilling experience. But that is not how society as a whole sees it. Should we continue to be silenced by these loud, aggressive voices? No. All of us must rise together and assert, with one voice, our collective need for peace. Our hearts, our words and our actions must be aligned in support of peace.

Today, Peace is increasingly being portrayed as a sign of betrayal. Reconciliation is being distorted into surrender. But as a progressive society we must raise our voices for more than ever for humanity and compassion. This applies not only within our own country, but across the world. What have the wars and conflicts raging around the globe truly brought us? Victory? No only destruction. That is why I believe we must act with unwavering commitment and clarity in our efforts to achieve lasting peace.

That is why I believe we must work with unwavering resolve for peace. We must dismantle the dangerous narrative that glorifies war the false pleasure drawn from rivers of blood shed to gain or protect power. This glorification must end.

Every soldier, every officer who wears a uniform and holds a weapon in respect of the law hopes that the moment never comes when they have to use that weapon. That is the true prayer of humanism. That should be the collective prayer of our society. Yet, a small group constantly dreams of the moment they might ignite violence with the weapon in their hand. No, our position must be firm, we must build a society where no one ever has the opportunity or justification to raise a weapon against another human being. We must not be afraid to say this clearly.

No one should be subjected to oppression. We must only be bound by truth, by humanity and by compassion. We should never be subjugated to authoritarianism. Therefore, I believe that to transform history into valuable experience, we must become a people who learn lessons from those experiences. We have shed enough blood, so much that our land is soaked with it. We are a nation whose rivers run red with blood, whose tears flow endlessly like great rivers from the eyes of our parents and relatives. We are people who have endured the deepest pains and the most devastating destruction caused by war. If these are our experiences, then we must ensure that such circumstances never arise again in our country.

I have stated before that no one takes up arms for the sake of war itself. Every person who picked up a weapon did so for the sake of peace. We do not fight to wage war, we fight to achieve peace. With that understanding, we know that a long journey still lies ahead of us. The end of the war is only the first step, the next step is to establish lasting peace. Without this, we will only be partial victors, not complete winners. True and full victory can only be achieved by creating peace in this country. Therefore, without fear of obstacles or threats, we must be ready to take every possible step necessary to secure peace.

To every soldier holding a weapon and every officer serving our country, I earnestly ask that you always remain committed to working for the peace of our nation. I urge you to continue being those who strive to establish lasting peace in our country in the future as well. To our parents and wives I say this, your children, your spouses, have dedicated themselves to ending the war on this sacred soil. You are noble mothers and spouses. But what should be the ultimate outcome of their sacrifice? The greatest justice we can achieve for your children, your spouses, your friends, and your relatives is the establishment of peace in this country.

We must build a society where our children will no longer live in fear of war. This is an incredibly difficult task, yet it is one we must successfully accomplish. Although this may not be the ideal moment, I feel compelled to say that in both the North and the South, the flames of ethnic conflict have been rekindled fuelled not by any cause other than the struggle for power. The true freedom of our homeland remains elusive; even after ending the war, we have yet to fully secure the complete liberation of our motherland.

What does full freedom of the motherland mean? Even with the current rains, there are regions in the country at risk of flooding and hazards. Can we truly say we are free? Any conflict, no matter how small or where it occurs in the world, affects our nation’s economy and the livelihoods of our people. Are we really free? Today, we are a nation that has lost economic sovereignty. We lack a strong economy that allows us to make independent economic decisions. Therefore, to transform our motherland into a proud nation respected by the world, we must achieve economic transformation.

The supremacy of the rule of law must be firmly established in this country, regardless of any challenges. The world should speak highly of our governance. Our nation must be built as one free from crime and drug menaces. It should be a country without conflict, distrust, or hatred. Only then we can achieve true freedom for our motherland, along with strong and genuine sovereignty. Without this, sovereignty remains merely a phrase on paper, not a reality. We must make this the reality of our motherland.

We both possess an unwavering affection for our motherland. Likewise, we love our people unconditionally. We aspire to transform this land into the most esteemed motherland in the world and to enable its people to enjoy a high standard of living. The essential foundation for this is peace and reconciliation. Therefore, at this critical moment, I firmly believe we must courageously make every possible decision in favour of peace and reconciliation.

The stability, security, spirituality and pride of our fallen heroes who lie ahead of us in this war memorial are all engraved within these walls. We must engrave their spirituality, bravery, courage, and sacrifice into our own lives. Why? to build a more prosperous and peaceful nation. We forever honour in our hearts the heroes who sacrificed their lives to end the war and those who remain permanently disabled because of it. Your dedication, sacrifice, and unwavering courage will become our foundation and inspiration to rebuild this country. For this cause, let us all unite to launch a new struggle a new battle for peace and progress.

(President’s Media Division)

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07 new envoys to SL, present credentials to President AKD (Pics)

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Seven newly appointed foreign ambassadors to Sri Lanka presented their credentials to President Anura Kumara Disanayake today (May 15) at the Presidential Secretariat.

The new ambassadors represent the State of Israel, the Argentine Republic, the Republic of Zimbabwe, the Republic of the Philippines, the Republic of Tajikistan, the Kingdom of Cambodia, and the Kingdom of Denmark.

The new diplomats who presented their credentials are as follows :

– Mr. Mariano Agustin Caucino has been appointed as the Ambassador-designate of the Argentine Republic, based in New Delhi.
– Ms. Stella Nkomo has been appointed as the Ambassador-designate of the Republic of Zimbabwe, based in New Delhi.
– Mr. Reuven Javier Azar has been appointed as the Ambassador-designate of the State of Israel, based in New Delhi.
– Ms. Nina P. Cringlet has been appointed as the Ambassador-designate of the Republic of the Philippines, based in Dhaka.
– Mr. Lukmon Bobokalonzoda has been appointed as the Ambassador-designate of the Republic of Tajikistan, based in New Delhi.
– Ms. Rath Many has been appointed as the Ambassador-designate of the Kingdom of Cambodia, based in New Delhi.
– Mr. Rasmus Kristensen has been appointed as the Ambassador-designate of the Kingdom of Denmark, based in New Delhi.

Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath, along with the Secretary to the President, Dr. Nandika Sanath Kumanayake, were also present at the occasion.

(President’s Media Division)

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“Lassana Dansala” offers beauty care during Vesak (Pics)

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A special ‘Dansala’ was held at the Maharagama Youth Services Council premises from 7:00 a.m. yesterday (May 13) to mark Vesak Poya Day.

Unlike traditional ‘dansal’ that offer food, this unique initiative provided a host of free beauty care and advisory services for both women and men, including haircuts, head massages, eyebrow shaping, facials, under-eye treatments, and skin analysis.

This event attracted over 5,000 participants who received professional grooming and skincare advice in a Vesak-themed setting.

Present at the event were Deputy Youth Affairs Minister Eranga Gunasekara, NYSC Chairman and Director-General of Youth Affairs Attorney Supun Wijerathna, MP Kaushalya Ariyarathna, Maharagama Mayor Saman Samarakoon, and Colombo Mayoral candidate Vraie Cally Balthazaar, among others.

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