Sri Lanka GSS+ bonds earn global awards as CSE, DFCC, BOC and Commercial Bank strengthen sustainable finance credibility.
Sri Lanka GSS+ bonds have gained international recognition for quality and innovation at Environmental Finance’s Sustainable Debt Awards 2026, marking a major milestone for the country’s capital market.
The Colombo Stock Exchange announced that Sri Lanka’s Green, Social, Sustainability and Sustainability-Linked bond issuances had been recognised at the global awards, reflecting the country’s expanding sustainable finance landscape and its growing alignment with international capital markets.
The achievement builds on sustained collaboration with the EU-funded Green Recovery Facility, implemented by Expertise France, which has supported the development and international positioning of Sri Lanka’s GSS+ bond market.
Advisory and coordination support has been provided in close collaboration with the CSE, with technical input from the contracted consultancy team Baastel, led by Jason Taylor.
Since supporting the operationalisation of Sri Lanka’s Green Bond Framework in 2023, the engagement has evolved into a broader effort to develop the country’s GSS+ bond market.
Through stronger policy alignment, market development, and stakeholder engagement, the partnership has contributed to corporate GSS+ bond issuances aligned with international standards.
Recent GSS+ bond issuances in Sri Lanka have collectively mobilised approximately LKR 82 billion, or around EUR 216 million, across green, blue, social, sustainability, and sustainability-linked instruments.
These funds have supported priority sectors including renewable energy, energy efficiency, water and coastal resilience, and inclusive social infrastructure.
The issuances were oversubscribed, showing growing investor confidence in Sri Lanka’s sustainable finance framework.
This progress was further supported by the introduction of Sri Lanka’s GSS+ Bonds Regulatory Framework in 2025, aligned with international principles and designed to strengthen market credibility and investor confidence.
The awards recognised three Sri Lankan financial institutions.
DFCC Bank received the Award for Innovation: Use of Proceeds for a Green Bond in APAC.
Bank of Ceylon received the Award for Innovation: Sustainability Bond Structure in APAC.
Commercial Bank of Ceylon won Green Bond of the Year for a Financial Institution in APAC.
Thimal Perera, Director and Chief Executive Officer of DFCC Bank PLC, said the recognition reflects the progress Sri Lanka’s capital markets are making in aligning with international sustainable finance standards and strengthening credibility with global investors.
He said DFCC was honoured to be recognised for innovation in use of proceeds, noting that it highlights the growing ability of Sri Lankan institutions to structure financing solutions with transparency, measurable impact, and long-term relevance.
He also thanked regulators, market participants, technical partners, and investors for helping advance Sri Lanka’s sustainable finance ecosystem.
G. A. Jayashantha, Acting Senior Deputy General Manager and Head of Global Markets at Bank of Ceylon, said BOC was honoured to receive Environmental Finance’s Sustainable Debt Award for Innovation: Sustainability Bond Structure in APAC.
He said the award recognised Bank of Ceylon’s inaugural LKR 20 billion Basel III compliant Tier 2 Sustainability Bond, the largest sustainability bond issuance in Sri Lanka and the first of its kind.
He stated that the bond addressed both BOC’s capital adequacy requirements and its commitment to aligning sustainable finance with national development priorities while advancing resilient and inclusive economic growth in Sri Lanka.
As the first Sri Lankan bank to secure this prestigious global award, he thanked the Colombo Stock Exchange for proactive coordination and encouragement, while also appreciating all stakeholders who partnered in the trailblazing initiative.
Sanath Manatunge, Managing Director and Chief Executive Officer of Commercial Bank of Ceylon, said winning Green Bond of the Year was a significant milestone for the bank and a strong endorsement of its commitment to sustainable finance and responsible banking.
He said that as the largest private bank in Sri Lanka, Commercial Bank recognises its responsibility to support investments that drive long-term environmental and economic resilience, especially in the renewable energy sector.
He added that the award reflects the bank’s strategic focus on advancing sustainable financing solutions that contribute to the country’s climate goals and broader sustainable development agenda.
The recognitions are especially significant as Sri Lanka continues its economic recovery and debt restructuring process.
As the country works to restore macroeconomic stability and rebuild investor confidence, the successful issuance of GSS+ bonds aligned with rigorous international standards sends a strong signal to global capital markets.
Building on this momentum, ongoing efforts are now focused on strengthening the market ecosystem through targeted capacity building and the development of a national coordination mechanism for GSS+ bonds.
This is expected to support further de-risking of issuances, attract foreign and institutional investors, and expand the pipeline of investment-ready instruments.
The international recognitions mark an important milestone for Sri Lanka’s capital market and reflect the growing maturity of its sustainable finance ecosystem.
The successful issuance and strong investor response to GSS+ bonds demonstrate that Sri Lankan institutions can align with global best practices while mobilising capital for environmentally and socially impactful investments.
Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange, said the CSE remains committed to fostering a robust and credible sustainable debt market through product innovation, regulatory development, stakeholder engagement, and international collaboration.
He said that as Sri Lanka continues its economic recovery journey, sustainable finance will play a critical role in attracting long-term investment, supporting resilience, and positioning the country as an emerging destination for responsible capital in the region.
These achievements underline the CSE’s continued focus on product innovation, issuer engagement, and market facilitation, while reinforcing Sri Lanka’s position as a credible and emerging destination for sustainable debt investment in the region.
