DFCC Bank embarks on sustainable journey

As part of its pledge towards contributing towards a resilient Sri Lanka, DFCC Bank, the Bank for Everyone, has proudly announced its all new Sustainability Strategy 2020 to 2030, developed with the vision of becoming the leading sustainable bank in Sri Lanka by 2030.

The Bank’s Sustainability Policy, Strategy, and Plan for the period up to 2030 builds on its historical achievements and stems from a belief the Bank holds that it must contribute towards strengthening resilience among its stakeholders, and resilience in Sri Lanka, given the greater likelihood of uncertainties and challenges across the globe during the next decade. The Bank aims to create long term stakeholder value through sustainability.

The Bank’s new Sustainability Strategy seeks to strengthen sustainable business practices, greater accountability and inclusive value creation in collaboration with all its stakeholders. It incorporates sustainable best practices across all business verticals and processes to lessen any negative environmental and social impact and engages all stakeholders across its value chain in implementing the Strategy.

The Bank adopts a triple-bottom line (TBL) value creation framework –taking care of People, Planet and Profit simultaneously – which entails conducting its business in a responsible and inclusive manner, and ensuring economic, environmental and social value addition to all stakeholders.

DFCC Bank’s Sustainability Strategy has three key pillars. Firstly, ‘Resilient Business’ – contributing to sustainable economic growth involves extending support to Green Financing and Sustainable & Social Entrepreneurs’ including renewable energy projects and also providing SMEs, exporters and selected sectors with customized concessionary financial schemes. This also includes implementation of the Social and Environmental Management System (SEMS) that ensures the projects funded by the Bank meet required local and international environmental and social regulations, and addresses any environmental and social risks. The second pillar, ‘Impact for Resilience,’ is one through which the Bank hopes to significantly increase its own efficiency, while reducing its environmental impacts. The Bank will work to improve resource efficiency, while minimizing waste and improving resource productivity, with the end goal of achieving carbon neutrality by 2030. The third pillar revolves around building ‘Resilient Communities’ and developing a sustainable culture to ensure staff and customer-wellbeing.