Commercial Bank of Ceylon PLC is the leading private bank in Sri Lanka. It also provides Banking and Financial Services to South Asian Countries. The Bank firmly believes that;

• Natural resources are finite and need to be used sustainably
  
• The transition to a low-carbon economy is essential and systematic transition does not only bring substantial benefits to the planet earth but lead to business and economic growth opportunities
  
• It is imperative that global warming is limited to well below 2 Degrees Celsius and pursue effort to limit to 1.5 Degrees Celsius compared to pre-industrial level, as committed to the Paris Pledge for Action
  

The main geographic locations that the Bank operates; Sri Lanka, Bangladesh, Maldives, and Myanmar are Nations with ambitious National Determined Contributions to limit the Green House Gas Emission for climate change mitigation. The Bank has duly identified its role in providing financial support to its customers in mitigating climate change effects through Climate Financing.

Even with the current levels of Green House Gas Emission in the atmosphere, changes in the climate are likely and will impose serious consequences to many sectors in the economies. Adaptive actions are therefore necessary in addition to the efforts made to mitigate climate change. Further, Asia is regularly identified as one of the regions hardest hit by climate changes. Hence, adaptation to effects of climate change through support to climate resilient agriculture, water resources management, and disaster risk management, etc. are priorities. Accordingly, the Bank assesses climate risks and opportunities associated with banking activities and integrate climate adaptation considerations to the Banking Operations, as well as to its product and service offerings.

Climate Financing is a subset of the Bank’s broader Green Financing commitment to positively contribute towards safeguarding the environment. Our Green Financing Strategy, reinforces the commitment to integrate climate change mitigation and adaptation actions and environment safeguard factors into its business strategies, risk management, and governance. 

We are committed to aligning our operations with Sri Lanka’s national Net Zero target by 2050, following the bank’s sectoral decarbonization pathways and supported by a comprehensive climate transition plan.