CORALL Conservation Trust Fund for conservation of Sri Lanka’s seascapes

From left to right – Nigel Bartholomeusz (Director – EFL), Chanaka Wickramasuriya (Trustee), Palitha Gamage (Trustee), Dr Shamen Vidanage (Country Representative – IUCN), Ms. Deshini Abeyewardena (Chairperson – EFL), Nishad Wijetunga (Trustee), Dr. (Ms.) Nishanthi Perera (Trustee), Prof. (Ms.) Sevvandi Jayakody (Trustee), and Nalin Karunatileka (Trustee)

Sri Lanka’s first ever CORALL Conservation Trust Fund was established to conserve Pigeon Island National Park, Bar Reef Marine Sanctuary and Kayankerni Marine Sanctuary and their associated seascapes. The Trust Deed was signed by the Settlor, Environment Foundation Guarantee Ltd (EFL) and members of the Board of Trustees recently. 
The Trust is formally known as the CORALL (Conservation of Reefs for All Lives and Livelihoods) Conservation Trust Fund, and is a key component of the Sri Lanka Coral Reef Initiative (SLCRI). SLCRI is a six-year national programme funded by the Global Fund for Coral Reefs and implemented by the International Union for Conservation of Nature and Natural Resources (IUCN). 
Environmental Foundation (Guarantee) Limited (EFL), as an implementing partner to IUCN, conducted a legal and policy review based on which the Trust Deed was drafted, ensuring strong governance, accountability, and transparency safeguards. EFL will also support the operationalization of the Trust. 
“This marks a significant step in sustainable financing to conserve coral reef ecosystems which are critical for marine biodiversity conservation, coastal protection, climate resilience, and the livelihoods of coastal communities” said Dr Shamen Vidanage, Country Representative, IUCN Sri Lanka. 
The Board of Trustees were carefully selected to ensure professional management of the Trust and furtherance of its objectives.
The Trustees comprise Palitha Gamage, Prof. (Ms.) Sevvandi Jayakody, Nalin Karunatileka, Dr. (Ms.) Nishanthi Perera, Chanaka Wickramasuriya and Nishad Wijetunga.
The CORALL CTF, which represents a long-term commitment to safeguarding coral reefs, will continue beyond the six-year project period of the SLCRI, and provide a vehicle to mobilise further private, State and international sustainability related funding for conservation of important ecosystems.
EFL is honoured to have been selected by IUCN to implement this landmark initiative.  As EFL enters its 45th year, it continues its commitment to environmental justice, supporting environmental policy development, conservation project implementation and public interest litigation. The creation of this fund is a milestone in developing innovative financing mechanisms for environmental conservation in Sri Lanka that we are proud to be associated with.