General disclosures |
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| GRI 2: General Disclosures 2021 |
2-1 Organisational details |
Corporate Information |
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| Organisational Overview – About the Bank |
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| 2-2 Entities included in the organisation’s sustainability reporting |
Introducing our 55th Annual Report –
“Report boundary” |
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| 2-3 Reporting period,
frequency and contact point |
Introducing our 55th Annual Report – “Continuing the journey” |
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| Introducing our 55th Annual Report – “Contact” |
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| 2-4 Restatements of information |
Introducing our 55th Annual Report –
“Report boundary” |
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| 2-5 External assurance |
Annual Report of the Board of Directors –
“Integrated Reporting and Strategic Thinking”, Board’s Responsibility, “External Assurances” |
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| Introducing our 55th Annual Report – “Responsibility for sustainability practices
and external assurance” |
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| Annex 6 – Independent Assurance Reports |
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| 2-6 Activities, value chain and
other business relationships |
Organisational Overview – About the Bank |
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| Business Model for Sustainable
Value Creation |
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| Sustainable Supply Chain |
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| 2-7 Employees |
Table 18: Employees by
Type and Gender – Bank |
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| 2-8 Workers who are
not employees |
Table 18: Employees by
Type and Gender – Bank |
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| 2-9 Governance structure
and composition
(a) Governance structure
(b) List of Board Committees
(c) Composition of the Board |
Governance and Risk Management |
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| 2-10 Nomination and selection
of the highest governance body |
Appointments and retirements/
resignations of Directors (Principle A.7) |
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Re-election/election of Directors
(Principle A.8 and A.9.3) |
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| Report of the Board Nominations and Governance Committee |
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| 2-11 Chair of the highest
governance body |
Segregation of roles of Chairman and Chief Executive Officer (Principles A.2 and A.3) |
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| 2-12 Role of the highest governance body in overseeing
the management of impacts |
Annual Corporate Governance Report |
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| Roles, responsibilities, and powers of the Board (Principles A.1.2 and A.1.3) & Board’s role in risk management (Principle D.2) |
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| Segregation of roles of Chairman and Chief Executive Officer (Principles A.2 and A.3) |
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| Shareholder engagement and voting
(Principles C.1, C.2, E, and F) |
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| 2-13 Delegation of responsibility
for managing impacts |
Annex 7: The Bank’s organisation structure |
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| Bank’s approach to governance |
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| Figure 40: Governance Structure |
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| Executive Management Committee and Management Committees |
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| 2-14 Role of the highest governance body in
sustainability reporting |
Introducing our 55th Annual Report – “Responsibility for sustainability practices
and external assurance” |
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| Material Matters – “Management Approach” |
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| Bank’s Sustainability Framework |
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| ESG and wider sustainability credentials |
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| Executive Sustainability Committee (ESC) |
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| Roles, responsibilities, and powers of the
Board (Principles A.1.2 to A.1.7) & Board’s role in risk management (Principle D.2 and D.4) |
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| 2-15 Conflicts of interest |
Conflicts of interest (Principle A.5.5 and A.10.1) |
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| Report of the Board Related Party
Transactions Review Committee |
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| Directors’ Interest in Contracts
with the Bank |
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| Note 62 – Related party disclosures |
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| 2-16 Communication of
critical concerns |
Board process (Principles A.1.3,
A1.4, A.1.6, A.1.7, A.3.1 and A.6) |
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Board meetings (Principle A.1.1) |
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Whistleblowing (Principle D.6.4) |
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| 2-17 Collective knowledge
of the highest governance body |
Induction and training of Directors
(Principle A.1.8) |
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| 2-18 Evaluation of the performance
of the highest governance body |
Board and Board Committee evaluations
(Principle A.9) |
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| 2-19 Remuneration policies |
Directors’ and Executive remuneration
(Principles A.10, B.1 and B.3) |
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| Report of the Board Human Resources
and Remuneration Committee |
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| 2-20 Process to determine remuneration |
Remuneration Committee (Principle B.2) |
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| Report of the Board Human Resources
and Remuneration Committee |
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| 2-21 Annual total
compensation ratio |
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2-21 |
Confidentiality constraints |
Industry does not disclose this information due to confidentiality reasons. |
| 2-22 Statement on sustainable development strategy |
Managing Director/Chief Executive Officer’s Review – “Pioneering ESG and wider sustainability stewardship” |
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| 2-23 Policy commitments |
Annual Report of the Board of Directors |
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| Introducing our 55th Annual Report – “Precautionary Principle” |
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| Responsible Organisation – Shared Value |
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| Community Engagement – Outreach |
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| Policies, procedures, and limits |
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| Risk management tools |
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| 2-24 Embedding policy
commitments |
Responsible Organisation – Shared Value |
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| Community Engagement – Outreach |
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| Policies, procedures, and limits |
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| Risk management tools |
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| 2-25 Processes to remediate
negative impacts |
Material Matters – “Management Approach” |
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| Code of Ethics, Whistleblowing,
Anti-bribery and Anti-corruption and Group Conduct Risk Management Policy Framework |
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| Risk Governance and Management – Streamlining customer complaint handling |
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| 2-26 Mechanisms for seeking
advice and raising concerns |
Whistleblowing (Principle D.6.4) |
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| Annex 1.1: 3 (1) (i) (d) Compliance with Banking Act Direction – Communication
with all stakeholders |
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| 2-27 Compliance with
laws and regulations |
Annual Report of the Board of Directors |
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| 2-28 Membership associations |
Bank’s Sustainability Framework, Memberships |
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| 2-29 Approach to stakeholder engagement |
Connecting with Stakeholders |
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| 2-30 Collective bargaining agreements |
Collective Bargaining |
2-30 |
Confidentiality constraints |
Industry does not disclose this information due to confidentiality reasons. |
Material topics |
| GRI 3: Material
Topics 2021 |
3-1 Process to determine
material topics |
Material Matters |
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| 3-2 List of material topics |
Material Topics, Risks, Opportunities,
How we manage and GRI Disclosures |
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| 3-3 Management of material topics |
Material Topics, Risks, Opportunities,
How we manage and GRI Disclosures |
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Economic performance |
| GRI 201: Economic Performance 2016 |
201-1 Direct economic value generated and distributed |
Annex 4: Our Sustainability Footprint |
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| 201-2 Financial implications
and other risks and opportunities
due to climate change |
Climate Position Statement of
Commercial Bank of Ceylon PLC |
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| 201-3 Defined benefit plan obligations and other
retirement plans |
Note 48.3 to the Financial Statements – Provision for unfunded pension scheme |
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Note 48.5 to the Financial Statements – Employee retirement benefit |
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| 201-4 Financial assistance
received from Government |
The Bank did not receive financial assistance
from the Government during the year under review. |
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Indirect economic impacts |
| GRI 203: Indirect Economic Impacts 2016 |
203-1 Infrastructure investments
and services supported |
Community Engagement – Outreach |
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| 203-2 Significant indirect
economic impacts |
Customer Centricity: Uplifting the
Small and Medium Enterprises (SMEs) |
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Anti-corruption |
| GRI 205: Anti-corruption 2016 |
205-1 Operations assessed for
risks related to corruption |
Anti-bribery and Anti-corruption |
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| Bribery and corruption – related risks |
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| 205-2 Communication and
training about anti-corruption policies and procedures |
Anti-bribery and Anti-corruption |
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| Anti-bribery and Anti-corruption |
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| 205-3 Confirmed incidents of corruption and actions taken |
The Bank did not come across incidents of
corruption during the year 2023 |
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Anti-competitive behaviour |
| GRI 206: Anti-competitive Behaviour 2016 |
206-1 Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices |
There were no legal proceedings relating to anti-competitive behaviour, anti-trust, and monopoly practices during the year 2023.
Note 59 to the Financial Statements – Litigations against the Bank |
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Tax |
| GRI 207: Tax 2019 |
207-1 Approach to tax |
9. Material Accounting Policies –
Tax Expense |
207-1 |
Confidentiality constraints |
Industry does not disclose this information due to confidentiality reasons. |
| 207-2 Tax governance, control,
and risk management |
9. Material Accounting Policies –
Tax Expense |
207-2 |
| 207-3 Stakeholder engagement
and management of concerns
related to tax |
Table 03 – Mode and Frequency
of Stakeholder Engagement |
207-3 |
| 207-4 Country-by-country reporting |
9. Material Accounting Policies –
Tax Expense |
207-4 |
Energy |
| GRI 302: Energy 2016 |
302-1 Energy consumption
within the organisation |
Annex 4: Our Sustainability Footprint |
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| 302-2 Energy consumption
outside of the organisation |
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302-2 |
Not applicable |
Due to the nature of the operations of the Bank |
| 302-3 Energy intensity |
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302-3 |
Not applicable |
Due to the nature of the operations of the Bank |
| 302-4 Reduction of
energy consumption |
Annex 4: Our Sustainability Footprint |
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| 302-5 Reductions in energy requirements of products
and services |
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302-5 |
Not applicable |
Due to the nature of the operations of the Bank |
Emissions |
| GRI 305: Emissions 2016 |
305-1 Direct (Scope 1)
GHG emissions |
Annex 4: Our Sustainability Footprint |
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| 305-2 Energy indirect (Scope 2)
GHG emissions |
Annex 4: Our Sustainability Footprint |
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| 305-3 Other indirect (Scope 3)
GHG emissions |
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305-3 |
Not applicable |
Due to the nature of the operations of the Bank |
| 305-4 GHG emissions intensity |
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305-4 |
Not applicable |
Due to the nature of the operations of the Bank |
| 305-5 Reduction of GHG emissions |
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305-5 |
Not applicable |
Due to the nature of the operations of the Bank |
| 305-6 Emissions of ozone-depleting substances (ODS) |
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305-6 |
Not applicable |
Due to the nature of the operations of the Bank |
| 305-7 Nitrogen oxides (NOx),
sulfur oxides (SOx), and other significant air emissions |
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305-7 |
Not applicable |
Due to the nature of the operations of the Bank |
Employment |
| GRI 401:
Employment 2016 |
401-1 New employee hires and employee turnover |
Annex 4: Our Sustainability Footprint |
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| 401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees |
Note 7.8 Employee benefits |
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| 401-3 Parental leave |
Annex 4: Our Sustainability Footprint |
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Occupational health and safety |
| GRI 403: Occupational
Health and
Safety 2018 |
403-1 Occupational health and
safety management system |
Employee morale, health and safety |
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| 403-2 Hazard identification, risk assessment, and incident investigation |
A transformed working environment
HR challenges, initiatives and plans |
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| 403-3 Occupational health services |
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403-3 |
Not applicable |
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| 403-4 Worker participation, consultation, and communication on occupational health and safety |
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403-4 |
Not applicable |
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| 403-5 Worker training on occupational health and safety |
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403-5 |
Not applicable |
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| 403-6 Promotion of worker health |
– The transformation of the banking model
– HR challenges, initiatives and plans
– Employee morale health and safety |
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| 403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships |
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403-7 |
Not applicable |
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| 403-8 Workers covered by an occupational health and safety management system |
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403-8 |
Not applicable |
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| 403-9 Work-related injuries |
There has been no injuries during the year |
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| 403-10 Work-related ill health |
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403-10 |
Not applicable |
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Training and education |
| GRI 404: Training
and Education
2016 |
404-1 Average hours of training
per year per employee |
Annex 4: Our Sustainability Footprint |
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| 404-2 Programs for upgrading employee skills and transition assistance programs |
HR challenges, initiatives and plans
Staff Training |
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| 404-3 Percentage of employees receiving regular performance and career development reviews |
Annex 4: Our Sustainability Footprint |
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Diversity and equal opportunity |
| GRI 405: Diversity and Equal Opportunity 2016 |
405-1 Diversity of governance
bodies and employees |
Colours of Diversity: |
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| Figure 41: Composition of Board and attendance (as at December 31, 2023) |
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Annex 4: Our Sustainability Footprint |
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| 405-2 Ratio of basic salary and remuneration of women to men |
Annex 4: Our Sustainability Footprint |
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Customer privacy |
| GRI 418: Customer Privacy 2016 |
418-1 Substantiated complaints concerning breaches of
customer privacy and losses
of customer data |
The Bank did not come across any complaint that had resulted in a reputational damage or significant financial loss during the year under review. |
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