CITIZENS DEVELOPMENT BUSINESS FINANCE
Building its business on visionary sustainability principles that are translated into tangible action, Citizens Development Business Finance’s (CDB) commitment to people, planet and profit was recognised with five awards at the Ceylon Chamber of Commerce’s Best Corporate Citizen Sustainability Award 2021.
Championing each sustainability fundamental, CDB was the Overall First Runner-up in Category A. With its annual turnover exceeding Rs. 15 billion, the company was evaluated alongside the country’s leading corporates and conglomerates.
Moreover, CDB notes it was listed among the Top Corporate Citizens for the fourth consecutive time. Its best practices during the pandemic were recognised with an award for ‘Demonstrated Resilient Practices for COVID-19 Context’; a category award for ‘Employee Relations,’ underscoring CDB’s extraordinary team; and an accolade for ‘Best Presented Application,’ showcasing its creative spirit.
CDB Managing Director and Chief Executive Officer Mahesh Nanayakkara says: “Each of the five awards is special to us as they recognise corporates that have stayed true to the fundamentals of sustainability.”
“Our beginnings 26 years ago were humble but today, we’re a leader in the financial services industry and entrenched among the five largest non-banking financial institutions (NBFIs) in the country. The CDB team has united through innumerable challenges to grow its top and bottom lines,” he adds.
The company’s journey has been built on sustainability and tech disruptions as key enabling pillars. Nanayakkara explains: “For us, it’s about walking the talk and ingraining the core principles of corporate stewardship into our business ethos. Sustainability has always been a qualitative and quantitative driven core strategy.”
Embracing these core pillars has pushed CDB to look beyond conventional business norms embedded in the people, planet and profit concept. The company remains committed to minimising its carbon footprint, continuing its quest towards carbon neutral status while being socially impactful.
CDB’s tech strategy complements its sustainability agenda by expanding its capacity digitally, contributing to the corporate being more resource efficient. This strategy also helps it reach the most remote, vulnerable and rural base in the market, augmenting financial inclusion.
The company incorporates two strategic pillars in its sustainability agenda – i.e. achieving carbon neutrality and inculcating a social consciousness driven by CDB Advance – to enable it to contribute to the green economy by 2030 and be a leader in sustainable finance.
“We have established eight verticals prioritised in the UN Sustainable Development Goals (SDGs) – viz. education, health, water, clean energy, responsible consumerism, life on land and partnerships,” explains Aroshi Ranatunga – the Head of Sustainability & Talent Management.
She continues: “They focus on renewable energy-based mobility and household solutions, enabling a shared economy, contributing to biodiversity and conservation, financial inclusion, community impacting initiatives, engaged and mindful team members, and responsible and sustainable branding.”
“It’s our responsibility as a corporate steward to pave the path, transform mindsets and push boundaries to leave a living planet for future generations. CDB provides opportunities for rural youth infused with a green mindset – including graduates from challenging backgrounds – to be a part of our team,” she mentions.
Ranatunga concludes: “In our journey of empowering a smarter and sustainable Sri Lanka, CDB has indelibly etched and demonstrated that it can achieve ‘extraordinary results through ordinary people’.”
