November 25, Colombo: The Commercial Bank of Ceylon PLC was declared Sri Lanka’s ‘Best Corporate Citizen’ in 2021 by the Ceylon Chamber of Commerce (CCC) on Tuesday evening, reaching the pinnacle of recognition for sustainability and good citizenship enterprise in the country’s sector companies.

The coveted “Best Corporate Citizen Sustainability Award 2021” was presented to the benchmark bank of Sri Lanka at an awards gala attended by the cream of Sri Lankan companies, in recognition of the Bank’s status as as a champion of sustainable development in the local business world.

Commercial Bank also won the award for the finance sector at the “Sector Based Sustainability Champions” awards, the “Governance” certificate in the award category for “Constant Commitment and Continuous Improvement and a was second for the newly introduced award for “Proven Resilient Practices for COVID-19 Context”, in addition to receiving an award for being among Sri Lanka’s top 10 corporate citizens.

“Sustainability is the cornerstone of our corporate ethics and influences everything we do,” commented Commercial Bank Managing Director and Group CEO MS Renganathan. “This is demonstrated by the fact that we are Sri Lanka’s first fully carbon neutral bank. Commercial Bank is therefore thrilled to win the award for Best Corporate Sustainability Corporate Citizen for 2021. This will drive an even deeper commitment to sustainability best practices at every level of employee.

The Financial Sector Award recognizes Commercial Bank’s position as the most progressive banking institution in the country and its commitment to preserving the environment through responsible lending protocols. The Bank’s multi-faceted green initiatives include loans to support sustainable and green operations, the migration of customers to paperless banking, improving the efficiency of energy use, water and other resources in its own operations and support for community initiatives that help conserve habitats and the environment.

The Bank initiated a mandatory social and environmental screening process for its project lending activities and was the first bank in Sri Lanka to venture into green finance. It has also revolutionized digital banking by introducing features in its “Flash” mobile application to measure and offset the impact of customers on the environment. The Bank has also achieved the feat of becoming the largest lender in the SME sector and is a leader in digital innovation in the country’s banking sector.

Commercial Bank finances projects focused on renewable energy, energy and resource efficiency, waste management, emissions reduction, smart agriculture and green buildings. The Bank’s green financing is focused on the fight against climate change, meeting United Nations Sustainable Development Goals 7 and 12: affordable and clean energy, and responsible consumption and production.

In addition, the Bank has many commitments, including a mangrove restoration project in Koggala, a marine turtle conservation initiative to protect ocean biodiversity, and support for the army’s “Thuru Mithuru” initiative. of Sri Lanka to promote self-sufficiency in essential foods. .

The Best Corporate Citizen Sustainability Awards program has been operational for 18 consecutive years and received 63 nominations in 2021, the highest number of nominations received in the history of the program.

Founded in 1839, the Ceylon Chamber of Commerce is the oldest and one of the main chambers of commerce in Sri Lanka. A confederation of trade associations, bilateral trade councils, and regional and sectoral chambers of commerce and industry, it is considered the main voice of the private sector in Sri Lanka.