ComBank awarded Greenhouse Gas verification statement | Page 2 | Sunday Observer

ComBank awarded Greenhouse Gas verification statement

Green banking: solar panels powering Commercial Bank’s Kollupitiya branch, one of 35 branches already converted.
Green banking: solar panels powering Commercial Bank’s Kollupitiya branch, one of 35 branches already converted.

The Commercial Bank of Ceylon has been awarded a Greenhouse Gas (GHG) verification statement by the Sri Lanka Climate Fund (Pvt) Ltd., under the Ministry of Mahaweli Development and Environment, after verifying that the Bank’s total Greenhouse Gas emissions for 2017 in accordance with ISO 14064-1:2006 were at a “reasonable level of assurance.”

This certification was awarded following an organisational level GHG inventory prepared by Climate Smart Initiatives (Pvt) Ltd. based on historical data submitted by the Bank. The GHG inventory is a comprehensive inventory as it includes all three scopes (scope 1, 2, 3) encompassing most of the direct and indirect emission sources covered by ISO 14064-1:2006.

Commercial Bank is one of the first Sri Lankan banks to include not only the GHG emissions of its domestic branches, but also some of its overseas branches. A Bank official said this demonstrates its willingness to promote sustainability efforts beyond the country’s borders.

Commercial Bank’s Assistant General Manager Services, Chinthaka Dharmasena praised the dedication and commitment of the Bank’s management and staff engaging in energy saving activities.

He said these initiatives have led the Bank to relatively low per capita emissions in the banking sector. Collecting the activity data from 11 GHG sources covering the head office and all 266 branches demonstrates the Bank’s readiness to manage its footprint while enhancing the accuracy of the GHG inventory. The inventory revealed that direct GHG emissions of the Bank were 1,305 tonnes of CO2 equivalent, indirect GHG emissions from electricity were 8,735 tonnes of CO2 equivalent, and other indirect GHG emissions amounted to 3,660 tonnes of CO2 equivalent. To date, the Bank has converted 35 of its branches to operate on solar energy. 

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