ComBank becomes Patron of two working groups of UNGC Network

Sanath Manatunge, Managing Director/CEO of Commercial Bank and Dilhan Fernando, Chairman of the UN Global Compact Network Sri Lanka at the signing of the Patron agreement in the presence of senior representatives of the two organisations

The Commercial Bank of Ceylon has taken a leadership role in advancing key sustainability priorities of the United Nations Global Compact Network Sri Lanka by becoming a Patron of Network Sri Lanka’s ‘Diversity & Inclusion’ and ‘Water & Ocean Stewardship’ Working Groups.
The Bank formalised this landmark commitment through the signing of a two-year Memorandum of Understanding (MoU) between Commercial Bank and UN Global Compact Network Sri Lanka, establishing the Bank’s patronage of the two Working Groups and its role in guiding initiatives that promote sustainable water management and inclusive business practices.
Commercial Bank will provide leadership and advocacy to advance the objectives of the Diversity & Inclusion and Water & Ocean Stewardship Working Groups. The Bank will collaborate with the Network to organise events, facilitate dialogue and partnerships, and encourage greater participation by companies seeking to strengthen their environmental, social and governance (ESG) practices. 
The engagement will also focus on initiatives that accelerate progress towards the Ten Principles of the UN Global Compact and the UN Sustainable Development Goals (SDGs), particularly in the areas of sustainable water management, ocean stewardship, gender equality and inclusive economic participation.
Commercial Bank’s patronage of the Working Groups builds on a longstanding association with the UN Global Compact Network Sri Lanka. The Bank became a Participant Organisation of Network Sri Lanka in 2002, only two years after the initiative was launched globally and nearly a decade before the establishment of the Country Network in 2011.
Commenting on the initiative, Sanath Manatunge, Managing Director/Chief Executive Officer of Commercial Bank said: “Commercial Bank’s long association with the UN Global Compact Network Sri Lanka reflects our belief that responsible business must play a central role in building a sustainable future. By becoming a Patron of the Diversity & Inclusion and Water & Ocean Stewardship Working Groups, we are expanding our engagement from internal implementation of sustainability practices to actively supporting and guiding other organisations on their own sustainability journeys.”
As a Patron, Commercial Bank will work closely with Network Sri Lanka to guide companies in adopting higher standards of water management and inclusive workplace practices, while integrating sustainability considerations into their business strategies. 
The Bank’s engagement in these initiatives also expands opportunities for collaboration across the corporate sector, sustainability experts and development organisations, enabling stronger public-private partnerships and collective action towards shared sustainability goals.
For customers and businesses, the Bank’s involvement in the Working Groups is expected to translate into greater access to sustainability-linked knowledge, advisory services and financial solutions, the Bank said. 
Participation in the Working Groups will further strengthen Commercial Bank’s ability to share global ESG frameworks and best practices with its customers through awareness programmes, workshops and advisory support. 
The status of Patron is extended by the Network to existing Participant organisations that demonstrate strong leadership in advancing the priorities of its Working Groups. It recognises companies that actively incorporate the Ten Principles of the UN Global Compact into their business practices and are committed to supporting other organizations in their sustainability journeys.
By assuming this role, Commercial Bank reinforces its position as a responsible financial institution aligned with global sustainability standards and committed to supporting Sri Lanka’s transition towards a more inclusive, resilient and sustainable economy.
Commercial Bank’s environmental stewardship in the sphere of water and ocean conservation is multifaceted and comprises of a series of high-impact initiatives including beach cleaning and beach maintenance projects, coral reefs restoration, marine sanctuary management and regeneration and protection of mangroves and marine ecosystems. These initiatives are executed in partnership with state and non-governmental entities and are focused on integrating ecological restoration with socio-economic resilience.
Commercial Bank was represented at the signing of the MoU by Sanath Manatunge, Managing Director/Chief Executive Officer, together with Hasrath Munasinghe, Deputy General Manager – Corporate Banking and Ashani Senaratne, Assistant General Manager – Marketing. Network Sri Lanka was represented by Dilhan Fernando, Chairman & CEO, Dilmah Tea and Chairman of the UN Global Compact Network Sri Lanka.