DFCC Bank Wins Merit Award as Green Brand of the Year at SLIM Brand Excellence Awards 2023
January 2, 2024
Sri Lanka’s pioneer in green finance, DFCC Bank, has been honoured with the Merit Award for Green Brand of the Year at the prestigious SLIM Brand Excellence Awards 2023. This esteemed accolade underscores DFCC Bank’s unwavering commitment to sustainable practices and its pivotal role in fostering a green economy in Sri Lanka. The award also recognises the Bank’s three-decade-long journey towards environmental stewardship and social responsibility.
Thimal Perera, CEO at DFCC Bank PLC, expressed his pride in the Bank’s recent achievement at the SLIM Brand Excellence Awards 2023 saying, “This achievement reflects our enduring commitment to sustainability and responsible banking. We are honoured to win an award as a Green Brand of the Year, a title that underscores our dedication to creating a positive impact on the environment and society. Driven by our Sustainability Strategy 2030, we aim to achieve ambitious goals across several KPIs, encapsulated by cross-cutting themes such as education, entrepreneurship, environment, emergency relief, elderly care, and exercise. The Bank envisions a resilient business model that integrates green finance, sustainable entrepreneurship, and digital enablement, with the aim of becoming a leading contributor towards sustainability and being the Bank for Green Finance.”DFCC Bank’s proactive approach has also led to its accreditation by the Green Climate Fund (GCF) in July 2023, further solidifying its position as a leading institution dedicated to climate action and being the first and only institution in Sri Lanka to have achieved this milestone. GCF is the world’s largest fund for climate action, and accreditation empowers DFCC Bank to access concessionary funding to enable the financing of climate mitigation and adaptation projects costing up to USD 250 million per project across Sri Lanka. Having undergone the rigorous process to secure GCF accreditation, DFCC Bank has joined the ranks of esteemed institutions worldwide that are at the forefront of combating climate change and building a sustainable future.
DFCC Bank has been a trailblazer in financing renewable energy projects and catalysing sustainable green transformation in Sri Lanka. Since 1988, the Bank has supported numerous such projects, including solar PV assembly plants and hydro, wind, solar, biomass and waste-to-energy power generation projects.; The Bank also implemented two programmes supported by the World Bank and the Global Environment Facility, widely hailed for their transformational impact on the renewable energy landscape in Sri Lanka.
Additionally, through its financing activities, the Bank also positively influences entrepreneurs and customers to make greener choices and incentivise sustainable development and lifestyles. One of the pivotal components of DFCC Bank’s green journey is its commitment to being a carbon-neutral bank by implementing resource-efficient operations and fostering a paperless environment. The Bank has proactively redesigned key business processes and facilities to minimise its environmental footprint, including initiatives to encourage energy efficiency and paperless operations and introduce sustainable procurement guidelines, along with renewable energy initiatives such as installing rooftop solar systems on its buildings. This has also inspired DFCC Bank to design and roll out a slew of internationally acclaimed digital banking services complimented by an omnichannel customer experience.
Accordingly, DFCC Bank’s emergence as a Green Brand of the Year reflects its robust environmental and social impact initiatives. The Bank’s journey from green financing to becoming a carbon-neutral institution demonstrates its dedication to positively impacting the environment, society, and the broader economy. DFCC bank’s commitment to the UN Sustainable Development Goals (SDGs) is evident in its efforts to support climate change mitigation, promote financial inclusion, and contribute to a green economy.
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 for projects of up to USD 250 million to support climate mitigation and adaptation projects across the island.