As a socially responsible financial institution, People’s Bank has embarked on a powerful sustainability journey to measure, manage and mitigate its environmental footprint by launching a formal Environmental Sustainability Policy, called ‘People’s Green Pulse’, which will guide the institution to achieve its aspirations for a greener future through focused environmental management initiatives. The pioneering bank will collaborate with Sri Lanka’s foremost provider of Integrated Sustainability Solutions - The Carbon Consulting Company – towards achieving its ambitious environmental goals. 

As a first step, the Bank has implemented a Sustainability Framework that spans across all divisions of the organisation, including the head office, regional offices and the entire branch network. This framework includes the creation of sustainability teams across all key operational functions to manage the Bank’s environmental as well as social initiatives. These teams will in turn report to a newly formed Central Sustainability Committee to ensure streamlined operations.

As the first initiative of ‘People’s Green Pulse’, an extensive Carbon Management Programme has been introduced that will be systematically spread out over a three-year period, which will witness People’s Bank reducing the Carbon Footprint of its organisational operations.

The benefits to People’s Bank in having a structured framework to manage the environmental impact of its operations are manifold. Calculating and reporting its environmental impact is a tangible way to demonstrate the Bank’s sustainability commitment and will help to stay ahead of local environmental regulations, thereby giving it an undeniable edge in the sector.

On this journey, People’s Bank will have the responsibility to ensure accurate reporting of its Greenhouse Gas (GHG) emissions to its employees, shareholders and other stakeholders through its existing GRI G4 reporting. It will also result in engagement of employees in this green initiative, making them aware of the impact of their operations. In time, with management of GHG emissions being the focal indicator of environmental responsibility in businesses, developing an emissions inventory will allow People’s Bank the opportunity to assess related potential risks and opportunities, which augurs well for its future prospects.

Commenting on this watershed moment, People’s Bank Chairman, Hemasiri Fernando, said: “It gives me great pride to announce People’s Bank’s Carbon Management Programme - instituted to manage our carbon footprint with the ultimate goal of becoming a CarbonConscious entity. Every action, be that of an individual or a company, leaves behind a Carbon Footprint. As a responsible corporate entity, we realise that the effects of greenhouse gases and climate change are knocking at our doors.

Human activity is the dominant cause of climate change, a fact that all of us who live on the planet and want to secure it for future generations should be made aware of. Having pioneered many firsts in Sri Lanka’s banking sector, People’s Bank yet again embarks on a novel programme in response to growing threats to our environment.” 

Sanith de S Wijeyeratne, CEO of The Carbon Consulting Company, added, “It’s heartening to have a well-established financial institution like People’s Bank come on board and embrace the philosophy of sustainability in all aspects of their operations.