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DFCC Bank launches innovative Green Fixed Deposits

DFCC Bank has once again asserted its position as a trailblazer in Sri Lanka’s financial landscape by launching the first Green Fixed Deposit in the country. Aiming to drive environmental protection, climate adaptation, and other sustainability initiatives, DFCC Bank’s Green Fixed Deposits serve as a potent catalyst for positive change. These deposits, crafted meticulously to channel funds towards projects and endeavors that have a profound and lasting impact on the environment, promote sustainable practices. The launch ceremony was held at the DFCC Bank Head Office, gathering luminaries that include officials from the UNDP in Sri Lanka, USAID Catalyse Private Sector Development Activity, and the Ceylon Chamber of Commerce. DFCC Bank PLC CEO Thimal Perera articulated the bank’s commitment to addressing critical environmental challenges. He underlined the bank’s multifaceted efforts, encompassing energy efficiency, renewable energy adoption, emission reduction, pollution mitigation, and conscientious financing practices. By introducing the pioneering DFCC Green Fixed Deposits, the bank invited all Sri Lankans to be part of the green revolution while bolstering their savings and investments.

With Sri Lanka’s ambitious goals of increasing forest cover to 32% by 2030, reducing greenhouse gas emissions by 14.5%, and achieving 70% renewable energy in electricity generation by 2030, the launch of DFCC Green Fixed Deposits is a harmonious alignment with the nation’s visionary drive towards a more sustainable future. President Ranil Wickremesinghe’s proposal to establish a Climate Change University in Sri Lanka by 2024 reinforces the nation’s unwavering commitment to addressing climate-related challenges.

Having pioneered sustainability efforts in Sri Lanka, DFCC Bank’s track record is marked by milestones. The bank’s formal sustainability strategy launched in 2020 paved the way for financing renewable energy projects since 1988. From solar and wind power to biomass and waste-to-energy projects, DFCC Bank has consistently led the charge in sustainable transformation. Its recent accreditation by the Green Climate Fund (GCF) amplifies its global recognition, enabling DFCC Bank to access GCF concessionary funding for projects up to USD 250 million. The introduction of DFCC Green Fixed Deposits marks yet another seminal stride towards realizing a greener and more prosperous future, resonating with the aspirations of all Sri Lankans.

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