The sustainability leadership of the Commercial Bank of Ceylon was brought into focus on the global stage when Mr. Hasrath Munasinghe, Deputy General Manager – Corporate Banking of Commercial Bank of Ceylon PLC shared insights at United Nations Global Compact (UNGC) annual sessions held in conjunction with United Nations General Assembly (UNGA) annual sessions in New York. The forum was attended by over 500 delegates from 69 countries across the world.
Mr. Munasinghe who also serves as a trustee of the Bank’s CSR Trust, is a member of the executive sustainability committee of the bank and a board director of the UNGC network in Sri Lanka spoke on Sri Lanka’s sustainability landscape at the Asia & Oceania Leadership Round Table where representatives from 14 countries presented.
In his comments, Mr. Munasinghe highlighted the Asia Pacific region as a biodiversity hotspot with a vital role in advancing global sustainability. He stressed that the region’s rich resources, including its human capital, create significant opportunities for investments in social enterprise, sustainability related bonds, climate transition, biodiversity, AI based technology projects and diversity and gender-focused projects. Reflecting this vision, Commercial Bank has embedded sustainability into its core operations and emerged as a leader in the sector, setting benchmarks through responsible banking practices and pioneering initiatives that align growth with environmental and social priorities, he said. He also spoke of special financing opportunities such as climate financing for energy transition and inclusive gender smart finance.
After these sessions, the UNGC Sri Lanka Network in a media release said it was delighted to see Mr. Munasinghe bring Sri Lanka’s voice to the Asia and Oceania Leadership Roundtable – Strategy, Policy & Impact, at the United Nations Global Compact Hub in New York. “This high-level dialogue brought together trailblazing CEOs and CSOs from across the region to redefine the future of sustainable leadership. The conversations were candid, thought-provoking, and action-oriented, highlighting the powerful shift from compliance to co-creation, where sustainability is no longer a box-ticking exercise but a core driver of strategy and growth,” the UNGC said. “With innovation and collaboration driving solutions across diverse markets, one message resonated strongly: Asia and Oceania are not just responding to global sustainability trends, they are shaping them.”
Mr Munasinghe also participated in the UN’s SDG Moment Forum at the UN Headquarters, presided by the UN Secretary General António Guterres, where Queen Mathilde of Belgium, Prime Minister of Ireland Micheál Martin and several world leaders made speeches.
During the week-long UN sessions, Mr Munasinghe also met with several high-ranking representatives of the United Nations and UN-affiliated agencies, strengthening the Bank’s links with the global sustainability agenda. These included Ms Sanda Ojiambo, Assistant Secretary General and CEO of the UNGC and Mr David Atkin, CEO of the UN’s Principles for Responsible Investment (PRI).
Beyond its contributions at the UNGC and UNGA, Commercial Bank of Ceylon has established itself as a sustainability pioneer in Sri Lanka and the region. It is the country’s first 100% carbon neutral bank and the first corporate to organise an exclusive Sustainability Summit, creating a national platform for dialogue on the SDGs. The Bank has also led the way in transparency by becoming the first in Sri Lanka to commence IFRS S1 and S2 reporting, while earning IFC recognition for excellence in CAFI reporting and partnering with the IFC on a Climate Transition Plan to support a low-carbon future. Strong ESG reporting practices and multiple international awards for responsible banking further reflect the Bank’s commitment, complemented by significant contributions to renewable energy financing, SME growth, and women-focused entrepreneurship.
Commercial Bank has embedded sustainability into its governance and operations, institutionalising it within a governance framework that includes the CEO, the Board, and an Executive Sustainability Committee (ESC) that reports to the Board’s Risk and Governance Committees. A dedicated Sustainability Unit coordinates implementation, supported by a Sustainability Working Committee, ensuring that sustainability is integrated across all departments.
Responsibilities for sustainability now extend across Credit, Risk, Finance, Operations, IT, Customer Service, HR, Procurement, Logistics, Services and Digital Banking, making it part of the Bank’s core business rather than a peripheral function. Social and Environment based risk scoring is already incorporated into lending, financed emissions are managed in partnership with the International Finance Corporation (IFC), and departmental key performance indicators (KPIs) now include sustainability metrics aligned to the Central Bank of Sri Lanka Roadmap 2.0 and global reporting frameworks.
Photo caption:
Mr Hasrath Munasinghe, Deputy General Manager – Corporate Banking of Commercial Bank at a UNGC forum and with Ms Sanda Ojiambo, Assistant Secretary General and CEO of the UNGC.
