Colombo, Sri Lanka, June 4, 2013
—IFC, a member of the World Bank Group, has identified significant potential for Sri Lankan hotels to use energy, water and other resources more efficiently and manage waste better, to curb carbon emissions and reduce operating costs.
The study,
Ensuring Sustainability in Sri Lanka’s Growing Hotel Industry,
identifies barriers faced by the industry in implementing resource efficiency measures, and provides suggestions on different initiatives that can be applied. It indicates, for example, how Sri Lanka’s existing three to five star hotels can reduce carbon dioxide emissions by over 12,000 tons per annum if measures recommended in the report are implemented.
“Sri Lanka’s hotel industry consumes a large amount of electricity and there is significant potential for energy efficiency improvements in this sector," said Bandula Tilakasena, Additional General Manager of the Ceylon Electricity Board. “If hotels simply shift certain energy intensive activities to off-peak hours, costs can be reduced substantially.”
With over 68 star class hotels under construction to cater to Sri Lanka’s rapidly increasing tourist arrivals, the report predicts that the tourism industry’s energy requirements will increase three-fold by 2016. This growth will result in a steep increase in the amount of carbon released into the atmosphere.
“Sri Lanka’s tourism sector needs to grow in a sustainable manner through measures that help protect the environment, and also increase profitability,” said Adam Sack, IFC Country Manager for Sri Lanka and Maldives. “It will take collaborative efforts from the government, the industry, and development institutions to make a difference.”
Sri Lanka is a priority country for IFC. A committed portfolio of over $200 million in Sri Lanka covers projects across a range of sectors, including infrastructure, tourism, renewable energy, finance, and health care. IFC also provides advisory services to promote sustainable growth among small and medium enterprises by facilitating access to finance, and by offering capacity-building and training opportunities.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges.
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