Q: What does it mean to be ranked among the top 125 listed companies in Sri Lanka in the latest Transparency in Corporate Reporting Assessment (TRAC) by Transparency International Sri Lanka (TISL)?

Zahrah Cader (ZC): For Ceylon Tobacco Company (CTC), being ranked No. 1 in the TRAC rankings means that we prioritise ethical and transparent business practices. It demonstrates our commitment to good governance, which is essential for maintaining our licence to operate, and mitigating risks associated with corruption and misconduct.

Overall, being ranked first among the top 125 listed companies in TRAC is a tangible accomplishment, reaffirming our exceptional standards and responsible corporate citizenship.

Q: What benefits can companies accrue from integrating sustainability, and environmental, social and governance (ESG) practices, into their operations?

ZC: Integrating sustainability and ESG practices into operations almost guarantees that organisations shape future fit, socially conscious operations. By embracing sustainability, companies enhance their reputation as responsible corporate citizens, thereby aligning to, most importantly, shareholders’ values.

A happy byproduct of ESG focussed operations is improved financial performance as sustainability measures result in lower operational costs and more efficient resource management, ultimately bolstering the company’s bottom line.

Sustainability fosters a culture of innovation, positioning companies at the forefront of industry trends. Prioritising sustainability strengthens our relationships with all our stakeholders by building trust and loyalty among customers, employees, investors and communities.

Most critically, a sustainability focussed approach draws to an organisation driven and passionate people. This naturally trickles into the energy of our people and has a natural positive impact on overall productivity within the organisation.

Q: How much value does excellence in sustainability and being a responsible corporate citizen hold for your company?

Richard Taylor (RT): At CTC, we hold ourselves to an exceptionally high bar in sustainability. We are proud to be a carbon neutral company across scopes 1 and 2, and continue to undertake bigger, bolder projects to raise the bar.

Establishing ourselves as a responsible corporate citizen and more importantly, maintaining our standards, enhances reputation and corporate value, attracting stakeholders who prioritise ethical and environmental considerations.

As an organisation that has been a part of Sri Lanka’s economy for over 118 years, we have built a strong sense of trust with all our stakeholders and this helped us foster long-term relationships that are essential for sustainability.

Q: What is your commitment to sustainability going forward?

RT: Sustainability is front and centre in everything we do. At CTC, we have bold targets for 2024 in the environmental space including achieving more than 50 percent renewable energy, a 20 percent water recycling rate and less than one percent of waste to landfill.

We also aim to maintain our commitment to environmental and social responsibility, and continue to be a preferred corporate citizen.

Q: And what is CTC’s ethos when it comes to corporate accountability and transparent financial reporting?

Towhid Akbar (TA): At CTC, we prioritise corporate accountability and transparent financial reporting because we believe in doing the right thing. We adhere to regulatory requirements and ethical standards, and have been recognised with a Best Corporate Citizen award as a category winner in ‘Financial Performance’ and the Triple Bottom Line winner for ‘Economic Sustainability.’

Our governance structures ensure transparency and integrity, supported by ethical conduct at all levels. Continuous improvement drives our commitment to excellence in corporate accountability and transparent reporting, reflecting our dedication to doing the right thing.

Q: In your opinion, how are Sri Lanka’s corporates faring when it comes to compliance and transparent corporate reporting?

TA: The majority of listed entities in Sri Lanka are compliant with key accounting standards and disclosure requirements. Room for improvement is always available in the space of voluntary disclosures.

Maintaining investor confidence is crucial amid uncertainty, and external factors such as economic stability and global conditions also influence transparency efforts.

Despite challenges, a concerted focus on transparency will support Sri Lanka’s long-term economic sustainability.

Q: Your employees drive your company’s reputation as a preferred employer in the country. What makes your organisation a leading DE&I employer? How does CTC report on gender and non-discrimination policies?

Kushani Dassanayake: CTC prioritises diversity, equity and inclusion (DE&I), aligned with the BAT Group’s agenda. We are extremely proud that both our leadership team as well as shadow leadership team have a 50:50 male to female representation. Additionally, our leadership team is represented by four nationalities, diverse backgrounds and cultures.

We have a truly inclusive culture as envisioned in our internal values, supplemented by strong internal policies and procedures that share our culture and drive DE&I.

Our internal culture programme SHINE promotes behaviours that enable our employees to unlock their fullest potential. We also have a strong wellbeing agenda that has a yearlong calendar of events.

We have been recognised for our culture as ‘Top Employer’ certified for four consecutive years, and the recognition we have received from Satyn magazine, the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) as a ‘Women Friendly Workplace’ underscores our commitment to equal opportunities.

Telephone: 2496200 | Email: Contact_CTC@bat.com | Website: www.ceylontobaccocompany.com