CDB Builds-On Mangrove Conservation Efforts Furthering Sustainability Agenda
Colombo, March 22, 2022 – Citizens Development Business Finance PLC (CDB) added strength to its corporate sustainability agenda, signing two key partnerships for mangrove conservation, with the Center for Sustainability of the University of Sri Jayawardenepura and Biodiversity Sri Lanka. CDB’s business strategy cascades into 2 key enabling pillars, ‘Sustainability Agenda’ and ‘Tech Disruption’. Of these, the Sustainability Agenda is further strengthened through the company’s commitment to mangrove conservation, as part of a larger focus on Bio Diversity.
CDB’s Sustainability Agenda is aligned with 7 of 17 United Nations Sustainable Development Goals. The company considers Conservation and Biodiversity as an important factor under its sustainability commitments and has identified Mangrove Conservation as a key focus area within it and is committed to pursue it.
CDB partnered with the Center for Sustainability of the Department of Forestry and Environment Science, University of Sri Jayawardenepura to establish a ‘Mangrove Resource Center’ at Ittapana, Kalutara. The Ittapana-Horawala Thotupola mangrove forest complex is considered one of the most threatened mangrove complexes on the island, and is in dire need of conservation to protect its unique ecosystem. It is home to diverse ecosystem services including flood hazard control and groundwater refill, acting as a breeding ground for fishes, a reservoir of biodiversity, carbon secretions, and many more. There is also economic benefit in ensuring its continued life, contributing to the economic upliftment of the rural population in the Ittapana and Horawala areas and to the country’s economy as a whole.
The Anawilundawa Sanctuary is one of Sri Lanka’s six RAMSAR wetlands and spans 1,397 hectares and encompassing forest wetlands, including mangroves, coastal saltwater eco-systems and freshwater lakes housing numerous endangered species of fish, amphibians, mammals, reptiles and birds. The “Life to our Mangroves” project was launched on the 08th of February, 2022 with CDB partnering Biodiversity Sri Lanka to enhance the resilience and renewal of this mangrove eco- system committing to conserve 1 hectare of the total area, while generating socio-economic development for the surrounding communities.
CDB Partners with Center for Sustainability, University of Sri Jayawardenepura to establish a Mangrove Resource Center at Ittapana.
An MOU was signed between CDB and the Center for Sustainability of the Department of Forestry and Environment Science, University of Sri Jayawardenepura to establish a Mangrove Resource Center at Ittapana, Kalutara.
Standing Left to Right – MD/CEO of CDB Mahesh Nanayakkara, Executive Director/Deputy CEO/CFO of CDB Damith Tennakoon, Vice Chancellor Senior Professor Sudantha Liyanage, Director Center for Sustainability, Professor Priyan Perera
CDB commits to conserve Mangroves in the Anawilundawa Sanctuary partnering with BSL
The “Life to our Mangroves” project was officially launched on 8th February 2022 by Biodiversity Sri Lanka partnering with CDB to conserve Mangroves in the Anawilundawa Sanctuary.
Standing from Left to Right – Deputy CEO / CFO of CDB, Damith Tennekoon holds the agreement with Board Chair of Biodiversity Sri Lanka, Dilhan C. Fernando.