Seylan Bank PCAF membership marks a significant milestone in Sri Lanka’s banking sector as the financial institution aligns with global standards for carbon measurement and climate disclosure. The move reinforces the Bank’s long-term commitment to sustainability, transparency, and responsible finance.
Seylan Bank PCAF membership advances transparent carbon accounting
Seylan Bank PLC has taken a decisive step in advancing its sustainability agenda by joining the Partnership for Carbon Accounting Financials, widely known as PCAF. Through this move, the Bank positions itself among a growing group of forward-looking financial institutions in Sri Lanka that are aligning their operations with internationally accepted frameworks for climate accountability and emissions disclosure.
PCAF is a global, industry-led initiative that provides financial institutions with a standardized methodology to measure and disclose greenhouse gas emissions linked to their lending and investment activities. These emissions, often referred to as financed emissions, represent a critical component of the financial sector’s overall climate impact. By adopting this framework, Seylan Bank strengthens its ability to assess climate-related risks and opportunities across its portfolio while improving the consistency and credibility of its environmental reporting.
The decision to formalize Seylan Bank PCAF membership reflects a broader shift within the institution toward integrating environmental considerations into core business decision-making. As climate risks increasingly influence financial stability, regulatory expectations, and investor confidence, banks are expected to demonstrate measurable progress in managing their exposure to carbon-intensive sectors. Participation in PCAF enables Seylan Bank to benchmark its performance against global peers and adopt best practices that are rapidly becoming the norm in international banking.
Commenting on the development, Shanuka Jayarathna, Chief Financial Officer – Designate of Seylan Bank, emphasized the responsibility financial institutions carry in shaping a more sustainable economy. He noted that joining PCAF allows the Bank to align its internal processes with globally recognized standards while supporting Sri Lanka’s broader climate objectives. According to him, the initiative represents an important phase in embedding environmental responsibility across the Bank’s strategic and operational framework, without compromising innovation or customer service.
Beyond measurement and disclosure, PCAF participation supports more informed decision-making across lending and investment portfolios. By gaining deeper insights into emissions profiles, Seylan Bank can work more closely with clients to encourage low-carbon transitions, promote responsible financing, and support sectors that contribute to inclusive and sustainable economic growth. This approach aligns with the Bank’s evolving environmental, social, and governance strategy, which increasingly prioritizes long-term resilience alongside financial performance.
PCAF’s public acknowledgment of Seylan Bank’s membership through its global communication channels has further highlighted the institution’s commitment to transparency and international collaboration. Such recognition underscores the growing relevance of Sri Lankan financial institutions within global sustainability conversations, particularly as emerging markets play a crucial role in achieving global climate targets.
The initiative is also expected to enhance Seylan Bank’s climate risk management capabilities. As physical and transition risks associated with climate change intensify, access to structured, comparable emissions data becomes essential for scenario analysis, stress testing, and strategic planning. Through PCAF, the Bank can systematically integrate climate metrics into risk assessments, strengthening its preparedness for evolving regulatory and market expectations.
In the broader national context, Seylan Bank PCAF membership supports Sri Lanka’s transition toward a greener economy. Financial institutions serve as key enablers of sustainable development by directing capital toward environmentally responsible activities. By aligning with PCAF, Seylan Bank signals its intent to play an active role in financing solutions that balance economic growth with environmental stewardship.
As sustainability continues to reshape the global financial landscape, initiatives such as PCAF are no longer viewed as optional commitments but as essential components of modern banking. Seylan Bank’s participation reflects a growing recognition that transparent climate reporting, informed risk management, and responsible capital allocation are integral to long-term institutional credibility and economic stability. The move positions the Bank to contribute meaningfully to Sri Lanka’s climate ambitions while remaining aligned with international expectations for sustainable finance.