UN Global Compact launches 'Responsible Business Coalition' in SL

The Colombo Stock Exchange (CSE) and the UN Global Compact today marked a significant milestone in advancing responsible business in Sri Lanka with a ceremonial Ring the Bell for Responsible Business event and the launch of the Responsible Business Coalition, a landmark partnership designed to embed sustainability, strengthened governance and the Ten Principles of the UN Global Compact across the country’s business leadership.

In her address to the trading floor, Ojiambo highlighted the increasingly important role of the private sector in building resilient, inclusive and sustainable economies, noting that responsible business is no longer simply a matter of corporate responsibility, but a strategic imperative for long-term competitiveness and resilience.

“The private sector has a critical role to play in shaping economies that are resilient, inclusive and sustainable. As businesses navigate a rapidly changing global landscape, responsible business is increasingly central to competitiveness, trust and long-term value creation. Through the Ten Principles of the UN Global Compact, businesses have a clear framework to translate sustainability commitments into meaningful action,” said Sanda Ojiambo, CEO and Executive Director, UN Global Compact.

A key highlight of the morning was the official launch of the Responsible Business Coalition, convened by UN Global Compact Network Sri Lanka. The Coalition brings together leading business and professional institutions to accelerate the integration of responsible business practices beyond sustainability functions and into boardrooms, executive leadership and professional development.

Commenting on the significance of the initiative, the Colombo Stock Exchange highlighted the importance of collaboration between capital market institutions and the wider business community in advancing sustainable and responsible growth.

“The Responsible Business Coalition provides an important platform for bringing together businesses and professional institutions around a shared commitment to sustainability and responsible corporate conduct. As a capital market, we recognise that strong governance, transparency and sustainable business practices are fundamental to building investor confidence and supporting resilient economic growth,” said Rajeeva Bandaranaike, Chief Executive Officer, Colombo Stock Exchange.

The Coalition’s founding members currently include the Sri Lanka Bankers’ Association – Sustainable Banking Initiative (SLBA-SBI), Sri Lanka Institute of Directors (SLID) and the Centre for Smart Future. Supporters of the Coalition working towards founding membership include the Colombo Stock Exchange (CSE) and the Ceylon Chamber of Commerce (CCC).

Speaking on the significance of the initiative, representatives of UN Global Compact Network Sri Lanka noted that the Responsible Business Coalition represents a collective commitment to move beyond individual organisational efforts and foster a coordinated national movement for responsible business.