Industry Analysis

Commercial Bank Wins Two Golds at IDB Green Awards 2024

The Commercial Bank of Ceylon achieved remarkable success at the IDB Green Industry Awards 2024, securing two Gold awards and one Bronze. The awards recognize excellence in sustainability, and Commercial Bank was honored for its achievements in becoming Sri Lanka’s first 100% carbon-neutral bank.

The bank received the Gold for ‘Low Carbon and/or Climate-Resilient Production’ due to its impactful journey toward carbon neutrality. This includes the installation of solar power systems at 85 branches, generating significant electricity savings. The second Gold was awarded for ‘Green Digital and Information Technologies,’ acknowledging the bank’s efforts in promoting digital banking, enhancing financial inclusion, and reducing environmental impact.

Additionally, Commercial Bank earned a Bronze award for ‘Inclusive Business Development,’ recognizing its role in Green Financing and supporting climate-positive initiatives.

The awards, part of the International Industry Expo 2024 at BMICH, highlight Commercial Bank’s commitment to sustainability through its diverse green initiatives and significant growth in digital transactions. The bank’s Green Lending portfolio also supports renewable energy and climate-smart agriculture.