Solid Waste Management
Solid Waste Management
Business Model Description
Invest in/provide project financing to install biogas digesters for biodegradable waste management by Local Authorities (LAs), commercial establishments and households with end-use energy applications (thermal and electricity). There are 4 digester capacity levels in waste input: (i) Municipal councils: 10 tonnes/day; (ii) Urban councils and Pradeshiya sabha: 1 tonne/day; (iii) Institutions/Commercial: 500 kg/day; (iv) Households: 5 kg/day.
Biogas digesters: Presently, numerous private companies are involved with the design and installation of biogas systems, mainly for thermal energy applications. Design and development of biogas systems are also performed by R&D institutes, including universities. The lead government agency is the National Engineering Research and Development Centre (NERDC). Examples of companies active in the IOA:
Arpico Plastishells Limited: Since 2011, the company markets innovative biogas plants (Arpico Green Gas /Unit) in three capacities (0.5 m3, 1.0 m3 and 5.0 m3), which are all manufactured through a signed agreement with an inventor. These are promoted and sold to HHs, hotels, restaurants, manufacturing plants, large-scale businesses and SMEs, which can produce Biogas through organic waste (17).
Eco Tech Base (ETB): ETB is a private entity, working in RE, waste management and the agriculture sector since 2013. The biogas plant is one of their main products, with a wide range of capacities (3 kg/day to 2 t/day). A new invention named "Eco-Buddy" has been a popular design among institutions and households. So far, they have installed Biogas plants in 30 institutions, 5 LAs and 400 HHs (15).
Janathakshan (GTE) Limited: A not-for-profit company established in 2011 to promote sustainable and green solutions in the development of Sri Lanka and beyond. It specializes in promoting viable and decentralized RE options and has vast experience developing domestic/large-scale biogas systems. One of the highlights is the 20 t/day capacity biogas plant in a Municipal Council (16).
HELP-O: It works in 4 focus areas, Environment Conservation, Public-Private-Partnership for Social Responsible, Community Development, and Relief Assistance. One of the key programmes implemented is the deployment of biogas digesters. The first system was installed in 2004 (at a hospital), and since then, several such systems were installed covering institutions, domestic and communities (14).
Expected Impact
Deployment of biogas plants in LAs, institutions, commercial sector and HHs, while providing benefit of waste management, clean energy and organic fertilizer for agriculture.
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
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Country & Regions
- Sri Lanka: Western Province
- Sri Lanka: Southern Province
- Sri Lanka: Central Province
- Sri Lanka: North Central Province
- Sri Lanka: Eastern Province
Sector Classification
Infrastructure
Development need
A steady increase in municipal solid waste (MSW) generation, improper management practices (open dumping, burning) and associated adverse impacts have been observed with urbanization in Sri Lanka. This topic has become a top item in political agendas because management practices have resulted in the growing health and environmental problems (1). Total MSW generated is 9,000 tonnes/day (9).
Policy Priority
The National Policy on Waste Management 2019 highlights objectives, guiding principles and policies for each waste category, including MSW (2). The National Policy on Sustainable Consumption and Production 2019 aims to minimize the natural resources and toxic materials used and the waste and pollutants generated throughout production and consumption (4).
Gender inequalities and marginalization issues
A majority of waste collectors in Sri Lanka represent a socially marginalized group (6). In particular, most are women. Improper waste management practices adversely affect women and marginalized groups (including health issues), while proper waste management contributes to economic empowerment by improving social and economic conditions (7).
Investment opportunities introduction
Demand for energy, clean water, and waste management, among others, is growing in rural and urban sectors. The government has pledged better infrastructure in burgeoning cities, suburbs, and villages. Regulatory restrictions have forced waste producers, such as livestock farms and hotels, to invest in onsite treatment, thus creating investment opportunities (9).
Key bottlenecks introduction
Inadequate human/physical resources and management skills in Local Authorities (LAs) for MSW management; Inability to successfully implement 'Reduce, Reuse, Recycle' practices and segregation; Inadequate funding for the proper management of solid waste; Absence of regulatory framework to adopt “Polluter Pays” approach effectively in managing solid waste (10).
Waste Management
Development need
Biogas generated with Waste-to-Energy (WtE) solutions helps in waste management and is beneficial as a clean energy source and in providing fertilizer for agriculture (digestate released from biogas systems). Biogas systems could help manage waste across individual, institutional, industry and LA facilities, reducing greenhouse gas (GHG) emissions (11).
Policy priority
Updated Nationally Determined Contributions (NDCs) identify biogas in mitigation actions under the waste and agricultural sectors with clean energy options (9). Further, National Environment Action Plan (NEAP) includes the promotion and introduction of biogas technology for the management and treatment of biodegradable waste in households, institutions and LAs (1).
Gender inequalities and marginalization issues
Most informal waste collectors and waste scavengers are women and marginalized communities exposed to the adverse impacts of improper biodegradable waste management (7). Providing clean cooking fuel to replace conventional high-polluting fuelwood is another benefit for women (12). 2.8 mn conventional biomass cookstoves in Sri Lanka
Investment opportunities introduction
Biogas production is a sustainable solution to waste management, which provides benefits of "Triple Bottom Line" (social, environmental and financial), while also demonstrating triple benefits of technology (waste management, organic fertilizer and alternative energy) (11).
Key bottlenecks introduction
Barriers to biogas deployment include inadequate waste collection and segregation, challenges in implementing a new system to replace an existing design, unawareness about the biogas system, safety issues, inconsistencies in waste generation and challenges in obtaining capital for the instalment of biogas systems (10), (13).
Waste Management
Pipeline Opportunity
Solid Waste Management
Invest in/provide project financing to install biogas digesters for biodegradable waste management by Local Authorities (LAs), commercial establishments and households with end-use energy applications (thermal and electricity). There are 4 digester capacity levels in waste input: (i) Municipal councils: 10 tonnes/day; (ii) Urban councils and Pradeshiya sabha: 1 tonne/day; (iii) Institutions/Commercial: 500 kg/day; (iv) Households: 5 kg/day.
Biogas digesters: Presently, numerous private companies are involved with the design and installation of biogas systems, mainly for thermal energy applications. Design and development of biogas systems are also performed by R&D institutes, including universities. The lead government agency is the National Engineering Research and Development Centre (NERDC). Examples of companies active in the IOA:
Arpico Plastishells Limited: Since 2011, the company markets innovative biogas plants (Arpico Green Gas /Unit) in three capacities (0.5 m3, 1.0 m3 and 5.0 m3), which are all manufactured through a signed agreement with an inventor. These are promoted and sold to HHs, hotels, restaurants, manufacturing plants, large-scale businesses and SMEs, which can produce Biogas through organic waste (17).
Eco Tech Base (ETB): ETB is a private entity, working in RE, waste management and the agriculture sector since 2013. The biogas plant is one of their main products, with a wide range of capacities (3 kg/day to 2 t/day). A new invention named "Eco-Buddy" has been a popular design among institutions and households. So far, they have installed Biogas plants in 30 institutions, 5 LAs and 400 HHs (15).
Janathakshan (GTE) Limited: A not-for-profit company established in 2011 to promote sustainable and green solutions in the development of Sri Lanka and beyond. It specializes in promoting viable and decentralized RE options and has vast experience developing domestic/large-scale biogas systems. One of the highlights is the 20 t/day capacity biogas plant in a Municipal Council (16).
HELP-O: It works in 4 focus areas, Environment Conservation, Public-Private-Partnership for Social Responsible, Community Development, and Relief Assistance. One of the key programmes implemented is the deployment of biogas digesters. The first system was installed in 2004 (at a hospital), and since then, several such systems were installed covering institutions, domestic and communities (14).
Business Case
Market Size and Environment
< USD 50 million
> 25%
10 tonnes/day-12 units; 1 tonnes/day-90 units; 500 kg/day-450 units and 5 kg/day - 55,000 units.
The total MSW generated is 9,000 tonnes/day. LAs collect 3,500 tonnes/day, while individual waste generators manage the balance. Biodegradable component of MSW is about 60%, and 1,000 tonnes/day is composted (9), (18), (19). Thus, there is an untreated biodegradable waste of 4,400 tonnes/day. The IOA needs 710 tonnes/day (16%) of the biodegradable waste available for treatment.
The demand for biogas units arises in all the waste generation and management sectors. Among all 341 LAs, there is only one sanitary landfill and there are 338 open dumpsites, in which 2,000 tonnes are dumped daily (19). The IOA targets to cater to 210 tonnes/day of this amount (10.5%) in 102 LAs (30%) during the first ten years.
Demand for biogas units arises in HHs, institutions and commercial sectors due to the need for waste management and access to cleaner fuel. There are 1,800 large establishments under the Energy Manager regulation (20), (21), and the IOA targets 25% of them. In HHs, there is a demand for biogas to replace conventional fuelwood cook stoves and LPG stoves (13), and the IOA targets 1% of them.
Indicative Return
20% - 25%
The initial investment for biogas plants would be relatively high compared to the profits gained in the first few years due to slow market penetration. However, there would be a gradual increase in demand. The typical profit margin used by the technology providers is about 20% of the cost of production.
The unit costs of production of the four capacity levels of 10 tonnes, 1 tonne, 500 kg and 5 kg per day of biogas plants are around USD95,000, USD20,000, USD15,000 and USD250, respectively.
Investment Timeframe
Medium Term (5–10 years)
Switching to biogas digesters in all the sectors would be gradual due to capacity limitations and market constraints such as limited access to finance. Hence, a medium-term timeframe.
The successful operation of biogas plants critically depends on the level of waste segregation, which is still generally not at a satisfactory level in the country. Even the capacity for the proper handling of the plants is a concern. Thus, the initial years need more emphasis on addressing these issues.
Though the operational cost of biogas plants is much less, the initial cost is relatively high. Therefore, to ensure sufficient demand over a longer period, the profit margin needs to be at a reasonably lower value in the initial years to gain the confidence of the target groups.
Ticket Size
USD 1 million - USD 10 million
Market Risks & Scale Obstacles
Capital - CapEx Intensive
Capital - Limited Investor Interest
Impact Case
Sustainable Development Need
Improper waste management, particularly MSW, has been a concern in cities and human settlements, having multiple consequences and adversely affecting the local environment, particularly the marine environment, sensitive ecosystems, and biodiversity, leading to health concerns (1), (10).
Waste is one of the key sectors that contributes to GHG emissions, and the NDCs include several interventions to mitigate GHG emissions (9).
Lack of access to affordable, reliable and clean energy is a concern, particularly in HHs for cooking (22), (23).
Gender & Marginalisation
A large portion of informal waste collectors and waste scavengers are women and marginalized communities, thus improper management has affected adversely their health and quality of life (7).
Most women and marginalized communities are directly involved in high-polluting conventional biomass cooking. The provision for affordable and clean cooking fuel is required to improve their living standards (12), (24)
Expected Development Outcome
Large-scale deployment of biogas plants will reduce the waste diverted to open dumpsites of LAs, including waste dumping by individuals, and improve the environment of cities and human settlements (1), (10).
Biogas generation from waste is one of the most effective options for GHG emission reduction in the waste sector, thus contributing to the achievement of NDC targets by 2030 and the net carbon zero target by 2050 (9), (11).
Biogas is a clean energy option and affordable for most communities. The large-scale deployment of biogas plants will enhance access to affordable, reliable, sustainable and modern energy (11), (13).
Gender & Marginalisation
Deployment of biogas plants will reduce the amount of improperly managed waste, thus mitigating the exposure of women and marginalized groups to the polluted and unsafe environment (air, water) (6).
The deployment of biogas plants in HHs will provide cleaner fuel options for the communities, particularly women and marginalized groups heavily dependent on conventional, less-efficient cooking fuels and technologies.
Primary SDGs addressed
11.6.1 Proportion of municipal solid waste collected and managed in controlled facilities out of total municipal waste generated, by cities
SDG data portal of the Sustainable Development Council (SDC) indicates "No Chart Data" (at the city level) (25). However, some recent publications include Provincial and National level data (9), (18), (19). Accordingly, at a national level, the proportion of the amount collected is about 40%, and the amount managed at control facilities is about 20% of the generated amount and 50% of the amount collected.
IOA will contribute to the management of 710 tonnes/day, or 8% of the total MSW generated, i.e. 9,000 tonnes/day (9).
Secondary SDGs addressed
Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Indirectly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Outcome Risks
Relatively high capital costs may hinder the prompt adoption of biogas plants, thus delaying the target installations, particularly for waste management in LAs and clean cooking in HHs.
The lack of knowledge and capacities among stakeholders on biogas plant operation may affect the technical and environmental performances, particularly during the initial stages of deployment.
The lack of availability of financing instruments among local banks to support the biogas technology suppliers and users may hinder market penetration.
Gender inequality and/or marginalization risk: The relatively high cost of biogas plants and appliances may restrict their adoption by women and marginalized communities for HH cooking.
Impact Risks
Non-implementation of biogas plants will worsen the waste management problems in the country while aggravating the environment and social impacts at a local level.
Failure to implement the biogas programme will affect the national targets in climate change mitigation (achieving NDCs by 2030 and a net zero carbon pledge by 2050).
Failure to adopt biogas as a clean fuel in HHs will lead to continued use of high-polluting cooking fuels and technologies, with high health risks due to indoor air pollution.
Gender inequality and/or marginalization risk: Failure to deploy biogas plants in HHs will restrict women and marginalized groups from shifting to affordable and clean forms of cooking energy.
Impact Classification
What
Deployment of biogas plants for sustainable waste management to mitigate local and global environmental issues, while providing co-benefits through the provision of clean fuel.
Risk
Lack of expertise and capacities to manage biogas plants and limited access to finance.
Contribution
Sustainable biodegradable waste management while generating cleaner and affordable fuel/energy. Particularly women dependent on conventional cooking fuels. 2.8 mn conventional biomass cookstoves in Sri Lanka.
Impact Thesis
Deployment of biogas plants in LAs, institutions, commercial sector and HHs, while providing benefit of waste management, clean energy and organic fertilizer for agriculture.
Enabling Environment
Policy Environment
National Policy on Waste Management (2019): This policy provides a set of general policies covering all forms of waste together and specific policies related to solid, liquid and gaseous waste. MSW is among the solid waste, and there are 24 policy statements related to MSW management (2).
National Environmental Policy and Strategies (2003): It emphasizes that caring for the environment is the duty of all institutions, government or non-government organisations, and all individuals who use, or otherwise carry out activities that impact resources of the environment (3).
National Policy on Sustainable Consumption and Production (2019): This is an overarching and cross-cutting policy applicable to all sectors where the consumption or production of a good or service is involved in any form. One of the ten thrust themes of the policy is waste (4).
National Climate Change Policy, 2003: Refers to waste management through GHG mitigation, emphasizing the adoption of integrated waste management systems for all types of wastes and assigning priority to adopt nationally appropriate low greenhouse gas emitting technologies (5).
Financial Environment
Although the National Policy on Waste Management emphasizes that appropriate financial mechanisms shall be developed to encourage LAs and provide tax concessions for machinery and technology importation in waste management. No specific programmes are in place yet (2).
Sri Lanka Green Finance Taxonomy (2022): It facilitates the disclosure of taxonomy-aligned activities and offering of green finance products, by market participants including local financial institutions and large corporations. It specifically covers construction/operation of biogas systems (30).
Although the National Policy on Waste Management emphasizes that appropriate market mechanisms and tools shall be developed to improve the cost effectiveness of waste management with suitable private public partnerships, no specific programmes are in place yet (2).
Regulatory Environment
National Environmental (Protection and Quality) Regulations No. 1 of 2008: According to this regulation (and subsequent amendments), no person shall, discharge, deposit or emit waste into the environment or carry any prescribed activity that causes, or is likely to cause pollution (26).
National Environmental (Stationary Sources Emission Control) Regulations, No. 01 of 2019: According to this, any person who manages, or is in control of any stationary source that emanates stack emissions, shall construct such stationary sources in conformity with the standards specified (27).
National Environmental (MSW) Regulations (2009): This prohibits dumping of MSW along sides of any national highway or at any place other than places designated for such purpose by the relevant LA or any person or body of persons authorized by them in that behalf (28).
National Environmental (Protection and Quality) Regulations (2008): This covers issuance of environmental protection license for emission or disposal of waste; and issuance of license for the management of waste (29).
Marketplace Participants
Private Sector
Design/constuction of biogas plants will be done by private companies, such as HELP-O, Eco Tech Base, Janathakshan GTE Ltd, Arpico Plastishells Ltd, and Bio Fuel Lanka. Institutions/ commercial sector/HH will be the users of biogas plants.
Government
102 LAs such as Kandy MC (Municipal Council), Maharagama UC (Urban Council), Homagama PS (Pradeshiya Sabha), Kesbewa UC, Beruwala UC, Kalmunai MC, Batticaloa MC, Akkaraipatthu MC, Kattankudy UC. Further, Institutional users of biogas plants include government sector agencies.
Multilaterals
UNDP, FAO (for technical and financial assistance).
Non-Profit
Integrated Development Association (IDEA), Sarvodaya, IUCN, SLYCAN Trust, National Cleaner Production Center (NCPC), Energy Forum
Public-Private Partnership
The implementation of biogas systems in LAs (particularly the larger capacity of 10 tonnes/day) could be best managed with PPP business models, with the utilization of energy and liquid fertilizer generated.
Target Locations
Sri Lanka: Western Province
Sri Lanka: Southern Province
Sri Lanka: Central Province
Sri Lanka: North Central Province
Sri Lanka: Eastern Province
References
- (1) National Environment Action Plan (NEAP) 2022-2030 (July 2022), Ministry Environment, Government of Sri Lanka, ISBN 978-624-5817-24-5, https://www.researchgate.net/publication/362118983_National_Environmental_Action_Plan_2022-2030_Pathway_to_sustainable_development_in_Sri_Lanka.
- (2) National Policy on Waste Management (2019), Ministry of Environment, Government Sri Lanka; ISBN 978-955-8395-48-6; http://www.env.gov.lk/web/images/pdf/policies/National_Policy_on_Waste_Management_English.pdf.
- (3) National Environmental Policy and Strategies (2003), Ministry of Environment and Natural Resources, Government Sri Lanka, August 2003, http://www.env.gov.lk/web/images/downloads/policies/national_environmental_policy_2003.pdf
- (4) National Policy on Sustainable Consumption and Production for Sri Lanka, Government Sri Lanka, 29 October 2019, http://www.env.gov.lk/web/images/downloads/publications/other_publication/scp_policy/scp_policy_english_printing_new_a_5_1.pdf
- (5) National Climate Change Policy 2012, Ministry of Mahaweli Development & Environment, Government Sri Lanka, http://climatechange.lk/CCS%20Policy/Climate_Change_Policy_English.pdf
- (6) Mahees, M.T.M. (2018). Socio-Cultural Aspects of Solid Waste Crisis in Sri Lanka. Colombo Journal of Multi-disciplinary Research, 3(2), 63–86. DOI: http://doi.org/10.4038/cjmr.v3i2.32
- (7) USAID, Clean Cities, Blue Ocean - Sri Lanka, U.S. Agency for International Development (USAID), November 2021, https://cjmr.sljol.info/articles/abstract/10.4038/cjmr.v3i2.32/https://www.usaid.gov/sites/default/files/documents/USAID_Sri_Lanka_EG_11-2021_-_CCBO.pdf
- (8) Wanniarachchi, I. & Wickramasinghe, V.K. (2018), Gender Sensitive Waste Management in Sri Lanka: Knowledge, Attitudes and Practices, International Research Symposium on Social Sciences and Humanities (IRSSSH) 2018: Towards a sustainable future, 13-14, December 2018, http://www.ncas.ac.lk/Proceedings/IRSSSH2018/bookspdf/7.%20Population%20and%20Gender/Abstract%20book%202018_84.pdf
- (9) GoSL (September 2021), Updated Nationally Determined Contributions (NDCs), Government of Sri Lanka (GoSL), https://unfccc.int/sites/default/files/NDC/2022-06/Amendmend%20to%20the%20Updated%20Nationally%20Determined%20Contributions%20of%20Sri%20Lanka.pdf
- (10) National Program for the Solid Waste Management, Expert Committee for the Development of National Programme for the Solid Waste Management, December 2020
- (11) SLSEA (2019), Biogas Technology as a Climate Change Mitigation Action: Appropriate Mitigation Actions in the Energy Generation and End-Use Sectors in Sri Lanka, A book published by Sri Lanka Sustanable Energy Authority (SLSEA), Ministry of Power, Energy and Business Development,GoSL, under the project assisted by UNDP - Sri Lanka and GEF.
- (12) Practical Action (2015), Gender and Domestic Energy Needs in Sri Lanka - Policy brief, Practical Action Sri Lanka, https://answers.practicalaction.org/our-resources/item/gender-and-domestic-energy-needs-in-sri-lanka/
- (13) Dhanapala, E.R.G.E.M., Waidyasekara, K.G.A.S. and Liyanage, K.L.A.K.T. (2019), Biogas as a Sustainable Energy Management and Solid Waste Management Solution for Residential Apartment, Proceedings of the 12th International Conference of Faculty of Architecture Research Unit (FARU), University of Moratuwa, Sri Lanka, December 03, 2019 Colombo, pp. 316–323,
- (14) HELP-O, https://helpo-srilanka.org
- (15) ECO TECH BASE (ETB), https://ecotechbase.com/
- (16) Janathakshan GTE Ltd., https://janathakshan.lk/
- (17) Arpico Plastishells Ltd, https://www.arpico.com/contents/our_expertise_plastics.php
- (18) B. F. A. Basnayake, R. T. K. Ariyawansha, A. K. Karunarathna, S. M. Werahera, and N. Mannapperuma (2019), Sustainable Waste Management Challenges in Sri Lanka, Chapter 15, Sustainable Waste Management Challenges in Developing Countries, October 2019, ISBN13: 9781799801986.
- (19) GoSL (2019), Guidelines for Safe Closure and Rehabilitation of Municipal Solid Waste Dumpsites in Sri Lanka, Ministry of Environment (MoE), GoSL, First Edition: February 2021, ISBN 978-955-8395-53-0, https://www.iges.or.jp/en/publication_documents/pub/policysubmission/en/11205/National+Guideline+on+Rehabilitation+of+Waste+Dumps_web_20210226.pdf
- (20) GoSL (2011), Energy Managers and Energy Auditors Regulations, Gazette Extraordinary, No. 1715/12 - July 20, 2011, Ministry of Power and Energy, GoSL, http://www.energy.gov.lk/images/energy-management/energy-manager-gazette-notification.pdf
- (21) SLSEA (2016), Operation DSM - National Energy Management Action Plan 2016-2020, Sri Lanka Sustainable Energy Authority (SLSEA), http://www.energy.gov.lk/ODSM/index.html."
- (22) Amerasekera, R.M. (2014), Case Study - Sri Lanka "Anagi" Improved Cookstoves Commercialisation,https://www.inforse.org/asia/pdf/Pub_srilanka_anagi_2014.pdf.
- (23) R. Mohideen (October, 2018), Energy Technology Innovation in South Asia -Implications for Gender Equality and Social Inclusion, ADB South Asia Working Paper Series No. 61, ISSN 2071-7202 (print), 2218-2675 (electronic), https://www.adb.org/sites/default/files/publication/463296/swp-061-energy-technology-innovation-south-asia.pdf
- (24) A. Wickramasinghe (2009), Gender and Energy in Sri Lanka: A Brief Analysis of the Situation.
- (25) SDC (2022), SDG Dashboard, Sustainable Development Council (SDC), [Online]. Available: https://data.sdg.lk/dashboard/11,Accessed on 23rd August 2022.
- (26) GoSL (2008), National Environmental (Protection and Quality) Regulations, No. 1 of 2008, Ministry of Environment and Natural Resources, Government of Sri Lanka (GoSL), https://www.cea.lk/web/images/pdf/envprotection/G_1534_18.pdf
- (27) GoSL (2019), National Environmental (Stationary Sources Emission Control) Regulations, Gazette Extraordinary, No. 01 of 2019, No. 2126/36 - June 05, 2009, GoSL, http://cea.lk/web/images/pdf/airqulity/2126-36_E.pdf "28) GoSL (2019), National Environmental (Municipal Solid Waste) Regulations, No. 1 of 2009, Gazette Extraordinary, No. 1627/19 - November 10, 2009, GoS,http://cea.lk/web/images/pdf/wastemanagement/G-11956-(E).pdf"
- (29) GoSL (2008), National Environmental (Protection and Quality) Regulations, No. 1 of 2008, Gazette Extraordinary, No. 1534/18 - February 01, 2008, GoSL, http://cea.lk/web/images/pdf/wastemanagement/G%209120%20E.pdf
- (30) CBSL (May 2022), Sri Lanka Green Finance Taxonomy, Central Bank of Sri Lanka (CBSL), https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/sl_green_finance_taxonomy.pdf
- (31) Bio Fuel Lanka, http://www.biofuellanka.com/