Diesel & Motor Engineering PLC (DIMO) demonstrated its unique brand of corporate stewardship by donning the crown as overall winner at the twelfth ACCA Sustainability Reporting Awards, while Dialog Axiata was adjudged the overall runner-up.
Pushing boundaries of transparency and accountability in reporting practices, an additional 13 awards were presented across six industry categories. Since the genesis of the awards, which are held across over 25 countries across the globe, ACCA has succeeded in infusing best practices in sustainability reporting which are imperative to sustainable business.
Judged on the triad of the three Cs of Completeness, Credibility and Communication, there are over 3,000 companies worldwide conforming to sustainability reporting on the guidelines of the Global Reporting Initiative.
DIMO also demonstrated its prowess in the Conglomerates and Diversified category winning that category, while John Keells Holdings was the runner-up. Commercial Bank of Ceylon won the award in the Banking category, with Sampath Bank being the runner-up, while in Financial Services and Insurance, Union Assurance PLC gained top spot.
Mercantile Investment & Finance and LB Finance emerged joint runners-up. Ceylon Cold Stores was the winner in Retail and Trading, with Bodyline adjudged runner-up and in the Leisure and Connected Services, John Keells Hotels bagged the top award, with Aitken Spence Hotel Holdings emerging the runner-up. Dialog Axiata and Nawaloka Hospitals were adjudged winner and runner-up in General Services (Utilities).
Chief guest Prison Reforms, Rehabilitation, Resettlement and Hindu Religious Affairs Minister D.M. Swaminathan commended ACCA for motivating and recognizing the precepts of sustainability through the reporting process.
This was well echoed in the ACCA theme of, ‘Think Ahead’, which urged young people to articulate their expectations from adults and the ideal planet they would like to live in. Within this concept, The Music Project, an initiative that brings together young students from five schools across the country, demonstrated that music can be a uniting factor for sustainable unity, with a unique demonstration of body percussion and barrel drumming. The theme carried through with a scintillating rendition of John Lennon’s Imagine by young operatic baritone Sanjeev Niles imploring the audience to think ahead and imagine a world that thrives on sustainable peace.
ACCA Sri Lanka Member Network Panel President Danushka Samarasinghe in his welcome address said, “Given the importance in terms of business ethics and accountability, sustainability reporting has become an important element in both the private and public sector. Therefore, in the current dynamic environment, we need to focus on the responsibilities institutions have towards society at large.”
ACCA Sri Lanka Head Nilusha Ranasinghe echoed these sentiments saying the awards seek to encourage the adoption of integrated reporting.
“This encompasses environmental, social and sustainability information to raise awareness of corporate transparency issues and increase accountability for responsiveness to stakeholders.” Panel of Judges Consultant Franklyn Amerasinghe commended, stating it was heartening to see a large number of companies moving to comply with the GRI G4 requirements to ensure comprehensive reporting.
“Many had also tried out the integrated format for the first time. It is perhaps worth reiterating that integrated reporting demonstrates that an organisation regards the non-financial aspects as more than relevant to the conduct of their businesses and that it is mainstreamed.”
Judged on the criteria of completeness, credibility and communication, the panel of judges comprised Prema Cooray - Chief Executive Officer Rainforest Ecolodge (Pvt) Ltd, Sriyani Hulugalle - Senior Economist Finance and Private Sector Development Unit World Bank, Michel Nugawela - Managing Director MND/Interbrand, Dr. Samanthi Senaratne - Professor in Accounting, Department of Accounting Faculty of Management Studies and Commerce University of Sri Jayewardenepura.