Sri Lanka has taken a significant step towards strengthening responsible and sustainable business practices with the launch of the Responsible Business Coalition, a new initiative aimed at promoting sustainability, good governance and ethical corporate practices across the country’s private sector.

The initiative was unveiled during a “Ring the Bell for Responsible Business” ceremony held at the Colombo Stock Exchange (CSE), as part of the visit of Sanda Ojiambo, CEO and Executive Director of the UN Global Compact. The event brought together business leaders, listed companies, professional associations, industry bodies and think tanks, highlighting a shared commitment to advancing responsible business practices in Sri Lanka.

During the ceremony, Ojiambo joined senior CSE officials in ringing the opening bell, symbolizing the important role of capital markets in promoting sustainable business practices and supporting the achievement of the United Nations Sustainable Development Goals (SDGs).

Addressing participants, Ojiambo emphasized that responsible business has evolved beyond traditional corporate responsibility and has become an essential component of long-term competitiveness, resilience and value creation. She also highlighted the role of stock exchanges and listed companies in strengthening corporate governance, mobilizing sustainable finance and supporting sustainable economic development.

A key feature of the event was the official launch of the Responsible Business Coalition, convened by the UN Global Compact Network Sri Lanka. The Coalition aims to integrate responsible business principles into corporate boardrooms, executive leadership and professional development, rather than limiting sustainability initiatives to individual departments.

Through advocacy, strategic discussions, technical capacity-building and knowledge sharing, the Coalition will support businesses in adopting the Ten Principles of the UN Global Compact, covering areas such as human rights, labour, environmental responsibility and anti-corruption.

The Colombo Stock Exchange also reaffirmed its commitment to supporting responsible business practices, emphasizing that strong governance, transparency and sustainable operations are essential for strengthening investor confidence and fostering resilient economic growth.

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

The Responsible Business Coalition is expected to create a stronger platform for collaboration among Sri Lanka’s business and professional institutions, helping equip current and future business leaders with the knowledge, tools and partnerships required to advance responsible corporate practices.

The initiative marks an important development in Sri Lanka’s journey towards a more sustainable and responsible private sector, while reinforcing the growing connection between corporate governance, sustainability, investor confidence and long-term economic growth.