People's Bank targets environmental goals

The People's Bank has launched a formal Environmental Sustainability Policy, called 'People's Green Pulse' to achieve its aspirations for a greener future through focused environmental management initiatives. The bank will collaborate with The Carbon Consulting Company to achieve its 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 creating sustainability teams across all key operational functions to manage the Bank's environmental and social initiatives. The teams will report to the newly formed Central Sustainability Committee to ensure streamlined operations.

As the first initiative of the 'People's Green Pulse', an extensive Carbon Management Program has been introduced that will be systematically spread over three-years, which will help the People's Bank reduce the Carbon Footprint of its organisational operations.

The People's Bank will ensure accurate reporting of its Greenhouse Gas (GHG) emissions to its employees, shareholders and other stakeholders through its GRI G4 reporting.

It will also result in engaging employees in this green initiative, making them aware of the impact of their operations. With management of GHG emissions being the focal indicator of environmental responsibility in businesses, developing an emissions inventory will provide the People's Bank the opportunity to assess related potential risks and opportunities, which augurs well for its future.

People's Bank Chairman, Hemasiri Fernando said: "It gives me great pride to announce People's Bank's Carbon Management Program - instituted to manage our carbon footprint with the ultimate goal of becoming a Carbon Conscious entity.

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."

"Having pioneered many firsts in Sri Lanka's banking sector, the People's Bank again embarks on a program in response to growing threats to our environment. We believe that our carbon management initiative will accrue dividends in the form of a greener planet for our stakeholders and hope it will encourage other entities to follow suit," he said.