Q: What is HNB’s sustainability philosophy?

A: HNB has adopted a sustainable approach that balances economic growth with social responsibility and environmental conservation.

The bank has been a pioneer in driving the sector towards sustainable financing, collaborating with other banks to consider the environmental impacts of the projects we lend to. We have dedicated in-house technical experts who work on environmental, social and governance (ESG), and sustainable financing.

We’re in the process of obtaining Green Climate Fund accreditation. This will enable HNB to attract global credit lines to Sri Lanka for mega development projects, which is a national need at the moment.

Q: How urgent is conserving and protecting the planet?

A: Conserving and protecting the planet is important and urgent – more so due to the expected accelerated growth in Sri Lanka following the debt optimisation programme.

Rapid growth plans bring with them their own environmental and social challenges, such as deforestation, pollution, waste management and gentrification challenges, for which we need to prepare the nation to navigate a just transition.

There is an urgency to take the conservation dialogue to action and be ready with ESG standards for financial institutions, as well as capacity and capability building in government and policy enforcement entities, and awareness among the general public.

Q: What are the most critical issues in terms of Sri Lanka’s natural environment?

A: Critical issues that require immediate attention in Sri Lanka include deforestation, habitat destruction, the pollution of water bodies, waste management and addressing the impacts of climate change. These threats pose significant threats to biodiversity, ecosystems and overall environmental health.

We have to achieve the right balance with regard to forest conservation with the development of roads, highways and bridges, which are essential to enabling access to education, sanitation and health. More importantly, we must sift and determine real threats to overall environmental health from the hype.

Q: How should local corporates balance the three ‘Ps’ – people, profit and the planet?

A: A practical approach would be to obtain an ESG standard, and work as a team to report the economic and social impacts of the business and governance model.

Q: ‘Every action has a reaction.’ How do you interpret this statement in the context of HNB and its impact on the natural environment?

A: This statement highlights the interconnectedness and consequences of our actions. Every decision or activity undertaken by the bank can have ripple effects on environmental and social capitals.

As a financial institution, it’s important to have in place a board approved sustainable financing policy when funding projects. The next step is to ensure stipulated compliance requirements are met at the onboarding stage, during and at the completion of the project. Banks need to invest in dedicated and competent resources to monitor and evaluate progress.

Q: What is the role of corporates in preserving the planet?

A: Corporates play a vital role in preserving the planet by integrating sustainability into their operations. They can reduce their carbon footprints, conserve natural resources, promote renewable energy, implement waste management systems and support environmental conservation initiatives.

Environmental stewardship should emanate from the board and cascade down to every employee, and also involve all stakeholders.

Organisations can implement effective waste management systems, energy efficient practices and transparent reporting mechanisms, ranging from ethical sourcing to ethical disposal and everything in between.

Chiranthi Cooray
DGM
Sustainability & Corporate Communications

Q: And what’s the role of the citizenry in conserving Planet Earth?

A: Citizens play an active role through responsible consumption, waste reduction, recycling and modifying lifestyles to embrace climate action. Collective efforts from citizens can drive positive change and contribute to a sustainable future. Responsible consumption is key!

‘Citizen science’ is becoming popular as a means of educating the masses on climate action. Sri Lanka has a history of being a conservative nation, and we should bring out our culture, traditions and customs that focussed on the three ‘Rs.’

Q: Could you shed light on initiatives taken by organisations in recent times to protect the natural environment?

A: Organisations in Sri Lanka have been implementing various initiatives to protect the natural environment. HNB has financed many projects on renewable energy, greenhouse gas emissions reduction and waste management.

One of the most significant accomplishments achieved this year is the transformation of our bank into a carbon neutral institution. To reduce our carbon footprint, we have implemented comprehensive measures and adopted energy saving practices. We take pride in announcing that we’ve successfully financed climate adaptation/mitigation projects amounting to Rs. 7.1 billion.

These achievements exemplify our unwavering commitment to environmental sustainability and serve as inspiring examples for others. We remain dedicated to continuously exploring innovative ways to protect the environment and actively contribute to a greener future.

– Compiled by Yamini Sequeira

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