Summary
Highlights
Shirani Asrasna defines nature-based solutions as those inspired by nature, providing benefits to communities. She cites examples like mangroves protecting against tsunamis and reforestation for carbon sequestration. Chalana Pereira adds that modern nature-based solutions focus on regenerating natural resources rather than just extracting from them, influencing design and industry, particularly in tourism where biodiversity is the core product.
Arushka Vijay singha argues that traditional economic metrics like GDP fail to value nature, often increasing with environmental degradation. She emphasizes the need to integrate natural capital into economic growth. Shirani provides the example of the Muthurajawela Wetland in Colombo, which acts as a flood retention system, highlighting the unquantified economic benefits of natural ecosystems. Arushka further stresses the "missing prices" of ecosystem services.
Ranjula de Silva discusses the need for Sri Lanka to shift from extractive practices to regenerative ones, catering to conscious global consumers. Chalana Pereira emphasizes that Sri Lanka's ancient heritage was circular and regenerative. She discusses how traditional tourism models are changing, with consumers demanding transparency and sustainability. She advocates for high-value tourism over high-volume tourism, respecting the carrying capacity of nature.
Shirani believes Sri Lanka has huge untapped tourism potential, with high-end tourism chains already embracing nature-based approaches. She highlights the government's commitment through policies like the National Biodiversity Strategic Action Plan and targets for increasing forest cover. She also mentions the growing corporate trend towards Net Zero emissions.
Arushka emphasizes the need to link climate targets with broader development goals, integrating nature with society, business, and government. She warns against compartmentalizing environment as a separate sector. She cites examples like reforestation efforts that need community involvement and the nuanced approach required for EV adoption. Ranjula emphasizes that organizations need to shift their perspective and make regeneration a core part of their operations, not just a box-ticking exercise.
Ranjula identifies the younger generation as key stakeholders driving change. Shirani notes a mind shift in state officials, who are now more open to collaboration with the private sector for conservation efforts. Arushka discusses the crucial role of the state in regulating and resourcing environmental protection, warning against its abdication or overstepping. She highlights the importance of re-prioritizing the state's role in addressing environmental instability.
Arushka discusses green finance and sustainable finance as vital for the future, noting the abundance of global capital for green investment. She points out that financial institutions need to move beyond a CSR mindset and value natural capital in their lending decisions. Chalana emphasizes the "human side" of these discussions, highlighting how community-level solutions like traditional medicine reflect an innate connection to nature. He calls for local standards rather than just replicating Western ones.
Chalana explains the shift from CSR to ESG, acknowledging greenwashing but also "green hushing" where smaller, ethical businesses are doing great work without recognition. He emphasizes the accountability brought by the younger generation and technology. Ranjula highlights that many SMEs are already adopting regenerative practices out of necessity and long-term vision, even in challenging economic conditions, and their stories need to be amplified and valued.
Shirani reiterates that World Environment Day should be every day, deeply ingrained in Sri Lanka's heritage. She highlights this year's theme: beating plastic pollution, and the collective responsibility required. Arushka adds that those working in conservation and environmentally conscious businesses already live this ideal daily, while vulnerable communities bear the brunt of poor environmental practices. Ranjula emphasizes that the solution lies in looking within, connecting to Sri Lanka's inherent ecological values, and embracing this heritage to build a sustainable future.