ComBank pledges another 100,000 trees to celebrate Water Board’s 50th anniversary
The Commercial Bank of Ceylon has announced a milestone partnership with the National Water Supply and Drainage Board (NWSDB) for the launch of a massive countrywide community-centric programme to plant another 100,000 trees.
This second phase of the Bank’s ‘Trees for Tomorrow’ initiative will focus mainly on water catchments identified as vulnerable due to deforestation, erosion, or human activities, and will result in sequestering approximately 2,000 tons of CO2 annually, while generating other social and economic benefits, the Bank said.
The first phase of Commercial Bank’s ‘Trees for Tomorrow’ programme was launched on November 11, 2023 and resulted in 100,000 trees being planted in just 12 months.
The new project funded by the Commercial Bank will form part of the NWSDB’s 50th anniversary celebrations in 2025. According to the Board, which will be the principal executor of the programme, climate change is altering the hydrological cycle and changing the timing and intensity of rainfall, directly affecting the quantity and quality of water resources for different users.
The planting of another 100,000 trees in catchment areas, the NWSDBsays, will ensure the long-term preservation of essential water sources for generations to come.
Commercial Bank Managing Director/CEO Sanath Manatunge said this initiative underscores the importance of partnerships in addressing challenges such as climate change and resource conservation. “As a bank, we focus on eight Sustainable Development Goals, and this collaboration directly contributes to SDG 13 – Climate Action, SDG 17 – Partnerships for the Goals, as well as SDG 6 – Clean Water and Sanitation and SDG 14 – Life Below Water,” he pointed out.
“We are pleased to partner with the National Water Board, where there is the enthusiasm needed to make this initiative a success,” he added. “We are confident that this collaboration will enable us to select the best locations for tree planting, and we will assign those locations to our branch network to ensure its full support and active participation in this project.”
The tree planting programme would also generate long-term benefits such as sustainable wood products, fruit harvests, and the promotion of eco-tourism.
New scientific approaches such as analog forestry which is a system of ecological restoration that focuses on increasing biodiversity by imitating natural forest systems in order to create economically productive and environmentally mature forests will be considered for this programme.
Sri Lanka’s first carbon-neutral bank, Commercial Bank has made sustainability an integral part of every aspect of its operations and supports a wide spectrum of environmental initiatives.
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