Sustainability at CDB

Sustainable work practice is a cornerstone of CDB’s business strategy. As a leading financial institution in Sri Lanka, with clients spanning a broad spectrum of society, we essentially focus on the three areas of uplifting the economic status of our stakeholders, preserving the environment and uplifting the community in our sustainability agenda.

Sustainability tripod at CDB focuses on simultaneous commitment towards social inclusivity, resource efficiency and low carbon growth by creating value along three dimensions of People, Profit and Planet.

Our sustainability philosophy is elevated by the sustainability strategies and priorities to greatness by embracing social, environmental and economic health in every part of our organization and in all our work practices. We strive to be a model for community-led sustainability by inspiring their quality of life, sharing knowledge and enabling growth opportunities to act as leaders. Given the varied nature of our clientele, our business model combines “Urban Funding and Rural Lending”. We aspire to fuse this model with sustainable practices to enrich people’s lives and position ourselves as a conscientious and formidable leader in the financial services industry by becoming a Net Lender to the Rural Economy touching upon the base of the pyramid markets. We ensure a balanced business model supporting a strong financial standing adding economic value. By supporting our people inside and out, creating capacity for action and inspiring possibility, we hope to not only help create healthier communities but also to foster personal growth, connection and innovation.

 

Sustainability Focus

Simultaneous commitment towards Social inclusivity, Resource efficiency, and Zero carbon growth by creating value along three dimensions of People, Profit and Planet.

Sustainability Strategy

Whilst creating increased value for our stakeholders, sustainability strategy at CDB look at in reducing our environmental footprint, maintain set high standards of governance, and to create long-term value and maintain our social licence to operate.

Sustainability steering committee

The committee oversees our Company’s sustainability agenda and support the governance and monitoring aspects as well. We also conduct our business in a fair and responsible manner and implement appropriate measures to protect customers’ information. We have zero tolerance for financial crime, including bribery and corruption. Additionally, we remain committed to responsible financing and promoting financial inclusion as part of our sustainability commitment.

 

Social Sustainability

Our social value creation which is the springboard to take our next steps in sustainable development best practices, ensuring that we create an empowering environment for our people and customers. Partnering our valued business partners to ensure that while we grow our business, they too will see growth in theirs as a result of our association and in being a corporate steward to the community, being responsive to their needs and imbuing development into communities.


 

  • Child health & well-being – Act Early for Autism
  • Child education and literacy – CDB Pariganaka Piyasa, CDB Sisudiri Scholarship programme
  • Digitally-supported entrepreneurial aid – CDBsmbFriday
  • Employee volunteering–CDB Hithawathkam

 

Act Early for Autism

CDB and Sri Lanka Association for Child Development (SLACD) initiated an Autism Trust Fund to strengthen the Autism awareness in Sri Lanka. CDB is contributing Rs. 100 from every one million business secured. This island wide awareness campaign aims to ensure that every child with autism receives early detection and attention which helps to reduce the negative impact that Autism has on their lives. We have partnered this project due to the increased prevalence of Autism in Sri Lanka. Autism can be easily managed through early detection by creating more awareness among the public. Creating awareness will instigate timely interventions for early detection prompting an improvement in the child’s functional outcome and also bring about a better understanding of the disorder.

As a second phase of the project, we set up mobile clinics to disseminate information about autism by involving our customers and the general public. SLACD organised two outreach programs in Pimbura and Rathnapura which were funded through the Autism Trust Fund. In collaboration with the SLACD, a poster campaign was also launched whilst Ampara General Hospital was given a Development Sensory Unit through our collaborative efforts through the Autism Trust Fund.

 

CDB Pariganaka Piyasa

CDB presented a “smart classroom” as the 11th donation to Ra/Sri Saranajothi Tissa Vidyalaya located in the little town of Devipahala, Kuruvita in the Sabaragamuwa Province at an investment of Rs. 1.5 Mn. in 2017/18 financial year. In our efforts to improve Information and Communication Technology (ICT) literacy among rural youth, to empower and enable them to adapt well into a future shaped by technology, we have donated a total of ten IT Laboratories to ten underprivileged schools across Sri Lanka over the past ten years. We work in close collaboration with the Ministry of Education and the Zonal Education officials to shortlist prospective schools. We then conduct an impartial evaluation through a site visit.

The selected school is given a brand new, fully equipped IT laboratory with brand new computers with licensed software, computer tables, chairs, scanners, printers and multimedia facilities.

 

CDB Sisudiri Scholarship Programme

For the 11th consecutive year, we rewarded high performers of the Grade Five Scholarship examination and the GCE Ordinary Level examination through the CDB Sisudiri Foundation. The scholarship recipients are children from low-income families, mainly of the three-wheeler owners. The recipients are selected through a transparent and unbiased selection process. An annual cash grant of Rs. 10,000 is awarded to high performers of the Grade 5 Scholarship examination until the completion of the Ordinary Level examination. High flyers of the Ordinary Level examination are awarded Rs. 15,000 per annum until the completion of the Advance Level examination.

 

CDBsmbFriday

This was launched to provide visibility to our small and medium enterprise customers. We have provided a platform to create awareness about this important customer segment on social media through our corporate website. This has facilitated to create connections, promote their businesses and also nominate others to join the site.

Click here to visit CDB SMB Friday page

 

CDB Hithawathkam

We strive to build and maintain the trust of the communities we empower and operate in. Therefore, we continually contribute towards their development, by building healthy, resilient and sustainable communities.

Our employees have volunteered their efforts to actively participate in numerous CSR activities. By deploying sustainability representatives in every major geographical area we operate, we drive our sustainability initiatives, aligned to the core values of our Company.

 

Environmental Sustainability

“Mihikathata Adaren” is our flagship environmental sustainability project which instils in our people a sense of responsibility and affinity towards the environment. It empowers us to be a team of “doers” taking affirmative action to conserve our natural world for future generations – and as a company, to champion the future health and well-being of the planet through green business operations.


 

  • Energy and Carbon
  • Biodiversity
  • Waste management
  • Employee engagement

 

Energy and Carbon

ISO 14064-1:2006 carbon verified financial institution

Being the first financial institution in South Asia to receive ISO Carbon Verification in 2015, this achievement reinforces our commitment to minimize our carbon footprint. By including this commitment in the process of gradually minimizing carbon emissions, we are also spearheading initiatives to reduce environmental pollution and champion environmental protection aligned with our company-wide ethos of reducing our carbon footprint based on pre-determined parameters.

 

Carbon Neutral Business Entity

CDB has been certified as a “Carbon Neutral Business Entity” by the Climate Smart Initiatives (Pvt) Ltd. Our partnership with them has resulted in knowledge sharing and support to offer customers and the community a unique environmentally sensitive offering. We continue to exert a positive influence over stakeholders through the many roles we play in society – for instance, as a responsible corporate citizen, a reliable financier, and a trustworthy employer.

 

UNFCCC Climate Neutral Now pledge

We have signed UNFCCC Climate Neutral Now pledge reaffirming our commitment to maintain our zero-carbon operational stance. The need for action on climate change has never been greater and we are taking action to tackle climate change daily by aligning it with our business imperative to reduce risk and ensure long-term business viability.

 

Waste management

E waste

Our E-waste recycling project was initiated in collaboration with Green Link, during the year under review. Through this project we are able to dispose of electronic waste in a safe manner, causing minimal harm to the environment. We initiated a new green movement titled “E-waste collection week” with the support and active participation of the Company Directors, corporate management members, and senior managers.

Paper waste

For the seventh consecutive year, a waste paper recycling project was conducted at our head office. This time we partnered with Green Links contributing to saving trees and reducing energy expended in the paper manufacturing process. The project has also paved the way to make use of waste paper more effectively with minimum impact to the environment.

To make employees more aware of the importance of conserving paper and energy CDB installed signs that illustrate simple, common-sense processes that can have a big impact on the environment. This includes reminders about printing on both sides of a paper, the correct way to print letterheads, using the shredder if both sides of a paper have been etc. These signs are posted within readable distance of each photocopier, printer and shredder.

Savings from paper and e-waste recycling (in 2017/18)