The necessity of a global shift toward low-GWP and no ODP refrigerants is forcing countries like Sri Lanka to revise and strengthen their refrigerant safety regulations since they have not yet fully implemented those regulations. The global trend in the refrigeration industry is to move towards natural refrigerants to replace the existing common refrigerants that are mostly man-made. However, most of the natural refrigerants used in the HVAC/R sector are flammable, toxic, or both, leading to safety concerns. Due to the lack of localized safety standards to support the safe adoption of these alternatives, they are mostly overlooked. The critical challenges spring from how to avoid, minimize the flammability issues, toxicity issues, and improper end-of-life handling of refrigerants currently used in the refrigeration industry. These concerns have become very significant since the usage of low-GWP refrigerants expands without a comprehensive regulatory framework. Going through a detailed analysis, it was identified that the existing Sri Lankan Standard, SLS 1262:2004, does not sufficiently address the safety and environmental risks and international regulations associated with new refrigeration technologies. This paper presents the development of SLS 1262:2025, a revised standard created by referring to internationally recognized guidelines such as ISO 817, ISO 5149, IEC 60335, EN 378, and ASHRAE 15/34. With a focus on adapting global best practices to local climatic, economic, and infrastructural realities, this paper outlines the most suitable regulatory provisions to ensure the safe use of flammable and toxic refrigerants in Sri Lanka.