The Commercial Bank of Ceylon has become one of the first Sri Lankan banks to achieve carbon neutrality for the entirety of its operations, encompassing all 268 branches and its head office – a milestone in the Bank’s commitment to the environment. Becoming a net-zero carbon company was one of Commercial Bank’s Green Goals,to be achieved by the close of its centenary year in 2020.
The Bank’s carbon neutral status has been affirmed by Climate Smart Initiatives (Pvt) Ltd., which executed the quantification of the Bank’s carbon footprint in accordance with the ISO 14064‐1‐2018 standard. A total of 13 emission sources covering both direct and indirect emission sources of the Bank were considered for this analysis. The Sri Lanka Climate Fund operating under the Ministry of Environment performed an independent third-party verification in accordance with the ISO 14064-3-2018 guidelines and awarded the prestigious ISO 14064 certificate to the Bank.
Commercial Bank Managing Director S. Renganathan said, “This is what success looks like to us; working towards the enhancement of shareholder returns without compromising the Bank’s responsibility to society and the environment. We are delighted to have achieved ‘carbon-neutral’ status - no small feat for the largest private bank in the country. The Bank believes that sustainable success is a balancing act – between continuity and change, stability and disruption, being conservative and bold. Our sustainable banking practices have been designed with this in mind.”