Jayashantha Godakanda, DGM – International, Treasury and Investment, BOC.
Bank of Ceylon (BOC) is advancing a major transformation as it strengthens its sustainability agenda, guided by its structured 3P framework— People, Planet, and Profit.
This framework embeds sustainability into both strategic and operational decision-making. BOC’s leadership in sustainability has earned external recognition, including the Green Business Leadership Award 2024 and the Green Commitment Excellence Award 2024 from the Green Building Council of Sri Lanka. Internally, the Bank is reducing its environmental footprint as it progresses toward becoming a carbon-neutral institution. Governance oversight is ensured through a dedicated Board-level Sustainability Committee, which integrates ESG priorities into policies and performance targets, positioning BOC to meet rising expectations from regulators, investors, and international stakeholders.
Bank of Ceylon’s Investment Banking Division plays a pivotal role in connecting the Bank’s sustainability goals with capital-market opportunities. Working closely with the sustainability division, lending units, and the ESMS team, it structures financial solutions that reflect emerging ESG standards.
This enables BOC to explore innovative sustainable finance instruments, including sustainability bonds, at a time when Sri Lanka is emphasizing green and inclusive growth. National initiatives such as the Central Bank’s Sustainable Finance Roadmap 2025 and the Ministry of Finance’s climate finance strategy further support this shift. For issuers, sustainability bonds require transparency, measurable impact, and continuous reporting—areas aligned with BOC’s strong governance and its forthcoming ESG Road Map targeting IFRS S1 and S2 compliance by 2025.
With assets exceeding five trillion rupees, Bank of Ceylon remains a cornerstone of financial stability. Its Investment Banking Division, having raised over 100 billion rupees—including a 15 billion rupee Basel III debenture in 2024—is now preparing to introduce sustainability bonds, marking a milestone in Sri Lanka’s sustainable finance landscape.
