Australian High Commissioner to Sri Lanka and the Maldives David Holly commended the Ceylon Chamber for supporting the Corporate Sustainability Awards. He was the chief guest at the awards held on November 28 at the Cinnamon Grand. He said that the Australian mission locally had its doors open to businesses that place high importance on corporate sustainability. Aitken Spence was the overall winner of the awards.
He said “Businesses are a force for good. There are better returns for the business in the long run by adopting the triple bottom line to their strategies. Corporate sustainability as we can find out tonight can take on many different forms. There is no one size fits all; From large scale flagship projects to investing in internal corporate culture, to devoting time to external causes, or allowing your employees to drive sustainability programs.”
He highlighted the 200,000 Sri Lankan diaspora in Australia. He further highlighted the common legal system, sporting links, and genuine warmth between the two nations. He said, “Our doors are always at the high commission for you as business leaders to engage with Australia.”
He added “I won’t mention our bilateral investment as that is an area we need to work on.”
He said “I congratulate the Ceylon Chamber on its 180th birthday but also on the vision to continue to sponsor the award for the best corporate citizen for sustainability. Sri Lanka is very fortunate to have such a champion of corporate sustainability. The Chamber is connecting businesses in Sri Lanka with business communities globally that can think beyond the corporate bottom line.”
“While corporate sustainability can take many different forms so too can the way businesses approach the balancing the view of a long term view of company liability with the short term demands of profitability. There are many different approaches. Directors can act the interests of stakeholders rather than shareholders, to the extent that these interests are relevant to the corporation. Other companies take the focus of maximizing profit and then using the returns that deliver in broader philanthropic ways.”
He added “Companies stand out from the crowd when they integrate broader social interest into their corporate strategies. This is rather than consider these ad-hoc side issues. Reporting is a key area that members can do to distinguish themselves from the competition. The most common and widely accepted regime is the Global Reporting Initiative. That can provide a very important framework.”
Among other common global standards is the OECD for multinational enterprises, UN Global Compact guidelines, International Organization for Standardization guidelines. He said “It allows you to communicate with audiences, and to communicate your values and your governance model to many others that are there. This is important to shareholders and investors globally.”
He added “Honesty is the key. Increasing transparency through sustainability reporting helps communities understand decisions that affect them. It is part of a global phenomenon.” He said “Strengths of our growing trade; in short, we are growing an increasingly modern partnership driven by a two-way growth in services and with strong contributions in goods; both traditional merchandises as well new products. Our trade for the past year in 2018 went beyond 1.5 billion. A 30 percent increase on the year before.”
He added “Australian universities and educational institutions are collaborating in Sri Lanka. I don’t think many of you know that we have 19 educational providers in Sri Lanka which offer opportunities for degrees in the country.”
Top Ten Best Corporate Citizens Awards:
Aitken Spence PLC emerged victorious at the Best Corporate Citizen Sustainability Award (BCCS) 2019, an award ceremony hosted by the Ceylon Chamber of Commerce in order to acknowledge and celebrate sustainability initiatives undertaken by the country’s corporate citizens. Commercial Bank PLC and Hatton National Bank PLC were the first and second runner up of the competition, respectively.
Ceylon Chamber Chairperson Dr. Hans Wijayasuriya delivered the welcome address.
Access Engineering PLC, Aitken Spence PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CBL Investments PLC, Citizens Development Business Finance PLC, Hatton National Bank PLC, National Development Bank PLC, Peoples’ Leasing and Finance PLC and Sampath Bank PL.
Category ‘B’ Winners – Less than Rs. 15bn Annual Turnover
1.Oxford College of Business (Pvt) Ltd.
2.1st Runner Up - Standard Chartered Bank
3.2nd Runner Up - Sirio Ltd
Triple Bottom Line Awards
1.Planet: Aitken Spence PLC
2.People: Commercial Bank of Ceylon PLC
3.Profit: Hatton National Bank PLC
Sector Awards
1.Diversified: Aitken Spence PLC
2.Finance: Commercial Bank of Ceylon PLC
3.Other: Sri Lanka Telecom PLC
4.Manufacturing: CBL Investments Ltd
5.Construction: Access Engineering PLC
6.Knowledge Services: Oxford College of Business (Pvt) Ltd
Best Projects Sustainability Awards Premium Exports Ceylon (Pvt) Ltd - Unilever Sri Lanka – Reaching the Pinnacle of Sustainability Premium Exports Ceylon (Pvt) Ltd - Unilever Sri Lanka – T-Hues – Closing the Loop on Tea wasteDynawash Ltd – T- Hues - Sustainable Natural DyeMAS Intimates – Partnering Disaster Risk Reduction (DRR), Resilience and PreparednessStandard Chartered Bank – Goal - Changing the world one Girl at a Time Hatton National Bank PLC – Sustainable Development Goals Action CampaignLink Natural Products (Pvt) Ltd – Siri Pada World Heritage Conservation ‘AsiriSurakimuSamanola.’
·Award for Women Empowerment - WinnerStandard Chartered Bank – Goal - Changing the world one Girl at a Time
Certificates of Merit awarded to the following Best Sustainability projects:
1. MAS Intimates – Aloka - Breast Cancer Awareness Program
2. Hatton National Bank PLC– Thundola Conservation Project
3. Standard Chartered Bank – Financial Education - Investing in the Next Generation to learn, earn and grow
Consistent Commitment and Continuous Improvement
A certificate to recognize corporates who have demonstrated Consistent Commitment and Continuous Improvement in each category of awards whilst competing for the Best Corporate Citizen Sustainability Awards over the last 03 years.
1.Environmental Commitment - Aitken Spence PLC
2.Environmental Integration - Aitken Spence PLC
3.Environment Beyond the Business - Aitken Spence PLC
4.Employee Relations - Aitken Spence PLC
5.Customer Relations - Aitken Spence PLC
6.Community Relations - Aitken Spence PLC
7.Governance - Hatton National Bank PLC
8.Financial Performance – Sirio Ltd
9.Economic Contribution – Bank of Ceylon
Award for Best Presentation of the Application:
-Commercial Bank of Ceylon PLC
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