DFCC Bank, a leader in sustainability in Sri Lanka, marked World Environment Day and World Oceans Day with two significant initiatives – a Mangrove Restoration Project at Waikkal and a Reforestation Project at Riverston in the Knuckles Mountain range. These endeavours reflect DFCC Bank’s long-standing commitment to environmental sustainability, a journey that began in the early 1990s when the bank pioneered investments in renewable energy in Sri Lanka. With a vision of being “The Bank for Green Finance” by 2030, DFCC Bank continues to lead by example, being the first entity in Sri Lanka to receive Green Climate Fund (GCF) accreditation.
The Mangrove Restoration Project at the Gin Oya Estuary in Waikkal was conducted on June 7, 2024. The initiative is part of DFCC Bank’s “Life to Marine” programme, an ongoing effort to protect coastal ecosystems. Underscoring the significance of the event, several top-ranking officials were present, including Chief Executive Officer Thimal Perera and Chief Human Resource Officer Paduma Subasinghe. The event also witnessed enthusiastic participation from volunteers across various branches and departments.
Building on DFCC Bank’s many partnerships towards its broader sustainability goals, this Mangrove Restoration Project was undertaken in collaboration with the Sri Lanka Navy, together with the support of the Biodiversity Secretariat of the Ministry of the Environment, the Coast Conservation & Coastal Resource Management Department, and the Geography Department of the University of Sri Jayewardenepura. This initiative focused on planting Rhizophora mucronata (Maha Kadol) and Rhizophora apiculata (Mal Kadol) mangrove species grown in the mangrove nursery funded by DFCC Bank at the Naval Detachment – Karukupane.
The primary objective of this project is to enhance ecosystem resilience provided by mangrove forests, demonstrating their value as a ‘nature-based solution’ for dealing with climate change and the emerging environmental challenges along Sri Lanka’s extensive coastline. This initiative also involved individuals from the local community and the generous support of Suriya Resort Waikkal and its staff, highlighting the importance of collective action in environmental conservation. The restoration of the Gin Oya Estuary mangroves enriches the local ecosystem and provides a habitat for various marine species. During the event, Dr Manoj Prasanna (PhD, C.Env.P) from the Biodiversity Secretariat also led an awareness session on “Mangrove Restoration and Habitat Enrichment of the Gin Oya”, helping to educate further participants, which included students of the University of Sri Jayewardenepura studying ‘Environment and Development’, about the ecological significance of mangroves.
Alongside this project, DFCC Bank also undertook a reforestation project in the Knuckles Conservation Forest Reserve on June 8 2024, planting 100 native plants in collaboration with the Forest Department of Sri Lanka. This project, which witnessed broad participation from DFCC Bank’s staff, also involved individuals from the local community. The reforestation initiative seeks to enrich the ecosystem, preserve native species, fertilise the soil, and prevent erosion, contributing to the overall health and resilience of the Knuckles Conservation Forest Reserve– part of the UNESCO World Heritage ‘Central Highlands of Sri Lanka.’
Home to diverse ecosystems, the Knuckles Conservation Forest is a vital sanctuary for 31 mammals, 128 birds, 53 reptiles, 20 amphibians, 15 fish, 60 butterflies, and 17 mollusc species. Notably, 17 bird species and 15% of the plant species in the Knuckles range are endemic to Sri Lanka. These restoration and reforestation projects, thus, reflect DFCC Bank’s commitment to preserving Sri Lanka’s unique terrestrial and marine ecosystems and their natural biodiversity. They also align with several UN Sustainable Development Goals (SDGs), including SDG 13 (Climate Action), SDG 14 (Life Below Water), and SDG 15 (Life on Land).
Reflecting on these initiatives, Thimal Perera, Chief Executive Officer of DFCC Bank, said, “Our commitment to environmental sustainability is deeply ingrained in our ethos, culture, and strategy at DFCC Bank. By undertaking projects like these, we preserve vital ecosystems and promote community involvement and awareness, which have long-lasting positive and cascading benefits. We believe these initiatives and our many other ongoing sustainability programmes are crucial for combating climate change and ensuring a sustainable future for generations. These programmes also heavily underscore the significance of collaboration with authorities and communities towards realising positive climate action.”
About DFCC Bank
DFCC Bank is a full-service commercial bank with a rich history of 68 years and offers a diverse range of commercial and development banking services. As part of its Sustainability Strategy 2020-2030, the Bank aims to become a leading institution contributing to greater resilience by creating resilient businesses and supporting green financing and sustainable, socially responsible entrepreneurship. The Bank has received numerous accolades, including being named the ‘Most Trusted Retail Banking Brand’ and the ‘Best Customer Service Banking Brand’ in Sri Lanka in 2021 by Global Brands Magazine UK and ‘Market Leader and Best in Service in Cash Management 2022’ by Euromoney. Additionally, DFCC Bank is ranked among Business Today’s Top 40 Corporates in Sri Lanka, is rated A- (lka) by Fitch Ratings Lanka Limited and is regulated by the Central Bank of Sri Lanka. Attesting to its commitment to sustainability, DFCC Bank is also the first, and presently only, entity in Sri Lanka to have received accreditation from the Green Climate Fund (GCF), granting it access to concessionary funding worth USD 250 million to support climate mitigation and adaptation projects across the Island.
