Sri Lanka has the potential to establish the green economy, especially by way of renewable energy, said President Ranil Wickremesinghe addressing a High-Level event on Strategies and Actions to Accelerate Sri Lanka’s Transition to a Green Growth Pathway in Colombo on Monday (06). He said further that the Sri Lankan Government prepared a Natural Adaption Plan and National Environment Action Plan to ensure a green economy and a better world by 2050. The event was organized by the Ministry of Environment and the Global Green Growth Institute (GGGI). A new Climate Change Act will be formulated while a new Environment Act will be drafted to replace the old one which will cover reforestation, forest cover and tree cover. He also added that Sri Lanka is to be the first one in the region to recognize some of its assets as living entities. The Knuckles Range, Horton Plains, Peak Wilderness, the Sinharaja Forest, the Mahaweli River and Adams Bridge will be hence identified as living entities. A Host Country Agreement was signed between the Government of Sri Lanka and the Global Green Growth Institute (GGGI) progressing Sri Lanka’s climate action and further deepening Sri Lanka’s green growth development. The agreement was signed in the presence of President Ranil Wickremesinghe and Former Secretary General of the UN and the President of the Assembly and Chair of the Council of the Global Green Growth Institute (GGGI) Ban Ki-Moon, this afternoon (Feb. 07). The agreement was signed, enabling the Government and the GGGI to effectively plan and implement green growth initiatives in the country. It was signed at the Presidential Secretariat by the Secretary of the Ministry of Environment Dr Anil Jasinghe, on behalf of the Sri Lankan Government and by the Director General of GGGI Frank Rijsberman on behalf of the GGGI. These initiatives include the implementation of the on-going National Adaptation Plan (NAP) and Readiness Support project, funded by the Green Climate Fund (GCF), to enhance capacity and institutions. The project includes the development of provincial adaptation plans and the identification of climate adaptation investments to implement these plans. Sri Lanka joined GGGI as a Member in 2019. Sri Lanka was elected as Vice President of the Assembly and Vice Chair of the Council of GGGI in October 2022. GGGI is hosted by the Ministry of Environment at the Climate Change Secretariat and Policy Planning Division. GGGI is dedicated to supporting and promoting strong, inclusive, and sustainable economic growth in developing countries and emerging economies. It serves the role of an enabler and facilitator of Members’ transition into a low-carbon green economy, providing policy advice and technical support in the development of green growth plans, policies and regulations, mobilization of green investments, implementation of green growth projects, and development of local capacities and knowledge sharing.