CITIZENS DEVELOPMENT BUSINESS FINANCE
Biodiversity Means Business:
A Decade of Impact,
A Future of Action
“Healthy ecosystems are the foundation of climate stability, supply chains and community resilience”
Deputy CEO
Executive Director
As one of Sri Lanka’s largest non-bank financial institutions (NBFI), Citizens Development Business Finance (CDB) has made sustainability a core tenet of its long-term business strategy.
Guided by two strategic pillars – tech disruption and the sustainability agenda – CDB is taking a proactive role in addressing the urgent environmental and social challenges of our time.
“Our forward-looking sustainability strategy, CDB Advance, is anchored on the theme ‘advancing the green economy’ with a dual focus on achieving net zero and being socially conscious. A key focus area under our net zero pillar is conservation and biodiversity,” says Deputy CEO/Executive Director Damith Tennakoon.
Although CDB’s operations do not directly affect protected biodiversity zones, the organisation recognised its broader responsibility as a corporate citizen. In 2015, this commitment led to a partnership with Biodiversity Sri Lanka (BSL) – a collaboration that continues to shape CDB’s sustainability journey.
“We saw in BSL a credible, science driven and collaborative platform that aligned with our values and offered a meaningful way to drive collective impact,” Tennakoon explains.
Through BSL’s multi-stakeholder network, CDB gained access to technical expertise, strategic guidance and opportunities to work alongside like-minded organisations in support of national biodiversity priorities.
Today, CDB is proud to partner on four of BSL’s flagship initiatives: Life Project, Life to Our Mangroves, Life to Our Beaches and Life to Our Coral Reefs.
REVIVING ECOSYSTEMS Among CDB’s key contributions is the Life Project – a long-term ecosystem restoration initiative in the Kanneliya forest reserve, specifically in the Halgahawala-Opatha region. This 12 hectare site was once rich in biodiversity but suffered ecological degradation due to the spread of invasive kekilla (wire fern) species, which inhibited natural forest regeneration.
He says: “The Life Project is a public-private partnership (PPP) aimed at reviving this degraded forest patch. CDB became a partner during the second phase and we’re proud to continue our support into the third, which spans five years.”
Technically guided by BSL, the International Union for Conservation of Nature Sri Lanka (IUCN) and the Forest Department Sri Lanka, the project brings together corporate partners to restore native biodiversity, enhance climate resilience and support local communities that depend on the surrounding ecosystem.
STAKEHOLDER VALUE “CDB’s initiatives have led to increased biodiversity, ecosystem restoration and international recognition through verification standards that validate our work,” Tennakoon notes.
From a business perspective, CDB’s consistent, science based approach has enhanced brand equity, strengthened regulatory and investor relationships, and positioned the company as a purpose led financial services provider.
He adds: “We’ve also focussed on internal engagement. Field visits to sites such as Kanneliya help our team understand the ecosystems we support, fostering ownership and pride in our sustainability efforts.”
Looking ahead, CDB plans to transfer stewardship of its project sites to national authorities, ensuring long-term protection and alignment with broader conservation goals.
NATURE BASED SOLUTIONS CDB’s sustainability work is aligned with the UN Sustainable Development Goals (SDGs) with nine primary SDGs and four secondary goals identified as priority areas. Among these, SDG 13: Climate Action is central to the company’s nature focussed initiatives.
“We’re actively advancing nature based solutions that use ecosystems to address climate risks while delivering co-benefits for biodiversity, communities and the economy,” Tennakoon explains. CDB is also expanding its focus to SDG 14: Life below Water and SDG 15: Life on Land to reflect a more holistic approach to conservation.
His message to corporates is clear: “Investing in nature is not only a philanthropic gesture – it’s a strategic business imperative. Healthy ecosystems are the foundation of climate stability, supply chains and community resilience.”
“Aligning business growth with nature’s health is not only responsible – it is essential. Companies must embed biodiversity into their core strategies to build a resilient future for both the planet and their businesses,” Tennakoon concludes.
Telephone 7388388 | Email cdb@cdb.lk | Website www.cdb.lk
