Ceylinco Life has announced its pioneering investment of Rs. 2 billion as the anchor investor in Sri Lanka’s first-ever Green Bond, issued by DFCC Bank. This landmark initiative, opening for subscription today, aims to raise up to Rs. 2.5 billion to fund solar photovoltaic (PV) power generation projects, including ground-mounted, floating, and rooftop solar facilities compliant with Sri Lanka’s Green Finance Taxonomy.
Ceylinco Life Chairman, R. Renganathan, emphasized the company’s commitment to sustainability, stating, “This investment is a powerful step towards leading the corporate sector in Sri Lanka to make tangible contributions to sustainability.”
The Green Bond, listed on the Colombo Stock Exchange (CSE), offers a 12% annual interest with a three-year tenure and has received an A- (lka) rating from Fitch Ratings. It adheres to the International Capital Markets Association (ICMA) Green Bond Principles and has obtained pre-issuance assurance from KPMG Global Assurance Team.
As a company dedicated to sustainability, Ceylinco Life has set an annual target to reduce its carbon footprint by 5%. In 2023, it achieved a 9.33% reduction, thanks to various eco-friendly initiatives. Ceylinco Life is also expanding its network of green branches, with 33 new solar-powered buildings featuring rainwater harvesting, waste-water recycling, and energy-efficient systems.
This investment reinforces Ceylinco Life’s leading role in the green investment landscape and further cements its dedication to reducing environmental impact through sustainable business practices.