ComBank secures Global Finance Asia-Pacific regional award

The Commercial Bank of Ceylon has been named the Asia Pacific regional winner of the Circular Economy Commitment award at the sixth annual Sustainable Finance Awards presented by Global Finance, securing a significant third-party endorsement of the Bank’s commitment to sustainable and responsible banking.

The award recognises leadership in advancing financing initiatives that promote the reuse and regeneration of materials and resources, thereby supporting production models that are environmentally sustainable and climate-resilient. Among the other regional recipients of the Circular Economy Commitment award this year are Scotiabank for North America and VUB for Central and Eastern Europe.

Global Finance announced the winners of its Sustainable Finance Awards programme for 2025, honouring global, regional and local leadership in funding initiatives designed to mitigate the negative impacts of climate change and contribute to a more sustainable future.

Winners have been chosen in areas such as overall sustainability financing, excellence in bond issues, community support, resource management, transparency and reporting, infrastructure, and emerging-markets sustainability funding, the magazine said.

Commercial Bank’s Green Financing Strategy provides the governance foundation for directing financial resources towards low-carbon, climate-resilient and environmentally beneficial projects. The strategy is aligned with the CBSL Green Finance Taxonomy, The UN Sustainable Development Goals and Sri Lanka’s Nationally Determined Contributions.

Commercial Bank utilises the Climate Assessment for Financial Institutions (CAFI) tool, developed by the International Finance Corporation (IFC), to systematically evaluate and quantify the climate impact of its green financing facilities.

The Bank is in the process of developing a Climate Transition Plan with technical support from the International Finance Corporation, setting a clear pathway to aligning its operations with Sri Lanka’s national Net Zero target by 2050, following the Bank’s sectoral decarbonisation pathways.

Commercial Bank’s comprehensive Sustainability Framework integrates environmental, social and governance principles across all operations, positioning sustainability as a core strategic priority rather than a peripheral function.

Global Finance’s Sustainable Finance Awards will be formally presented at the magazine’s Investment Bank and Sustainable Finance Awards Ceremony on 2 April at Landing 42 in London.

Picture: Kapila Hettihamu, Chief Risk Officer at Commercial Bank accepts the award