Commercial Bank of Ceylon PLC Annual Report 2022

Statement of use	Commercial Bank of Ceylon PLC has reported in accordance with the GRI Standards for the period January 1, 2022 to December 31, 2022.
GRI 1 used	GRI 1: Foundation 2021

		Location	Omission
GRI Standard/Disclosure		Report commentary title	Requirement(s) Omitted	Reason	Explanation
GRI 2: General Disclosures 2021
2-1	Organisational details	Corporate Information
		Organisational Overview – About the Bank
2-2	Entities included in the organisation’s sustainability reporting	Introducing our 54th Annual Report – “Report boundary”
2-3	Reporting period, frequency and contact point	Introducing our 54th Annual Report – “The Journey so Far”
		Introducing our 54th Annual Report – “Contact”
2-4	Restatements of information	Introducing our 54th Annual Report – “Report boundary”
2-5	External assurance	Annual Report of the Board of Directors – “External Assurances”
		Introducing our 54th Annual Report – “Responsibility for sustainability practices and external assurance”
		Annex 6- Independent Assurance Reports
2-6	Activities, value chain and other business relationships	Organisational Overview – About the Bank
		Business Model for Sustainable Value Creation
		Sustainable Supply Chain
2-7	Employees	Table – 19 Employees by Type and Gender – Bank
2-8	Workers who are not employees	Table – 19 Employees by Type and Gender – Bank
2-9	Governance structure and composition	Governance and Risk Management
2-10	Nomination and selection of the highest governance body	Appointments and retirements/ resignations of Directors (Principle A.7)
		Re-election/election of Directors (Principle A.8)
		Report of the Board Nomination Committee
2-11	Chair of the highest governance body	Segregation of roles of Chairman and Chief Executive Officer (Principles A.2 and A.3)
2-12	Role of the highest governance body in overseeing the management of impacts	Annual Corporate Governance Report
		Roles, responsibilities, and powers of the Board (Principles A.1.2 and A.1.3) and Board’s role in risk management (Principle D.2)
		Segregation of roles of Chairman and Chief Executive Officer & Role of Independent Non-Executive Directors (Principles A.2 and A.3)
		Shareholder engagement and voting (Principles C.1, C.2, E, and F)
2-13	Delegation of responsibility for managing impacts	The Bank’s Organisation Structure
		Bank’s approach to governance
		Figure 21 Governance structure
		Executive Management Committee and Management Committees
2-14	Role of the highest governance body in sustainability reporting	Responsibility for sustainability practices and external assurance
		Material Matters – “Management Approach”
		Bank’s Sustainability Framework
		Executive Sustainability Committee (ESC)
		Roles, responsibilities, and powers of the Board (Principles A.1.2 and A.1.3)
2-15	Conflicts of interest	Conflicts of interest (Principle A.10)
		Report of the Board Related Party Transactions Review Committee
		Directors’ Interest in Contracts with the Bank
		Note 62 to the Financial Statements – Related party disclosures
2-16	Communication of critical concerns	Board process (Principles A.1.6, A.1.7, and A.6)
		Board meetings (Principle A.1.1)
		Whistleblowing
2-17	Collective knowledge of the highest governance body	Diversity and inclusion
		Board of Directors’ industry/background experience
		Induction and training of Directors (Principle A.1.8)
2-18	Evaluation of the performance of the highest governance body	Board and Board Committee evaluations (Principle A.9)
2-19	Remuneration policies	Directors’ and Executive remuneration (Principles A.10, B.1 and B.3)
		Report of the Board Human Resources and Remuneration Committee
2-20	Process to determine remuneration	The level and make-up of remuneration (Principle B.2)
		Report of the Board Human Resources and Remuneration Committee
2-21	Annual total compensation ratio		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 – “Advancing sustainability”
2-23	Policy commitments	Annual Report of the Board of Directors
		Introducing our 54th Annual Report – “Precautionary Principle”
		Responsible Organisation – Shared Value
		Community sustainability – outreach
		Policies, procedures, and limits
		Risk management tools
2-24	Embedding policy commitments	Responsible Organisation – Shared Value
		Community sustainability – outreach
		Policies, procedures, and limits
		Risk management tools
2-25	Processes to remediate negative impacts	Management Approach
		Whistleblowing, Anti-Bribery and Anti-Corruption & Group Conduct Risk Management Policy Framework
		Risk Governance and Management – Streamlining customer complaint handling
2-26	Mechanisms for seeking advice and raising concerns	Whistleblowing
		Annex 1.1: 3 (1) (i) (d) Compliance with Banking Act Direction – Communication with all stakeholders
2-27	Compliance with laws and regulations	Annual Report of the Board of Directors
2-28	Membership associations	Memberships: Nexuses in Synergy
2-29	Approach to stakeholder engagement	Connecting with Stakeholders
2-30	Collective bargaining agreements	Collective Bargaining: The Dialogues
Material topics GRI 3: Material Topics 2021
3-1	Process to determine material topics	Material Matters
3-2	List of material topics	Material Topics, Risks, Opportunities, How we manage and GRI Disclosures
3-3	Management of material topics	Material Topics, Risks, Opportunities, How we manage and GRI Disclosures
Economic performance GRI 201: Economic Performance 2016
201-1	Direct economic value generated and distributed	Annex 4: Our Sustainability Footprint
201-2	Financial implications and other risks and opportunities due to climate change	Climate Position Statement of Commercial Bank of Ceylon PLC
201-3	Defined benefit plan obligations and other retirement plans	Note 48.3 to the Financial Statements-Provision for unfunded pension scheme
		Note 48.5 to the Financial Statements-Employee retirement benefit
201-4	Financial assistance received from government	The Bank did not receive financial assistance from the Government during the year under review
Indirect economic impacts GRI 203: Indirect Economic Impacts 2016
203-1	Infrastructure investments and services supported	Community sustainability – outreach
203-2	Significant indirect economic impacts	Customer Centricity: Uplifting the Small and Medium-Trilingual Presence: Tripartite Inclusivity
Anti-corruption GRI 205: Anti-corruption 2016
205-1	Operations assessed for risks related to corruption	Anti-Bribery and Anti-Corruption
		Bribery and corruption-related risks
205-2	Communication and training about anti-corruption policies and procedures	Anti-bribery and Anti-corruption: Perfect Altitudes
		Anti-Bribery and Anti-Corruption
205-3	Confirmed incidents of corruption and actions taken	The Bank did not come across incidents of corruption during the year 2022
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 2022. Note 59 to the Financial Statements – Litigation against the Bank
Tax GRI 207: Tax 2019
207-1	Approach to tax	Note 9 to the Financial Statements – Significant Accounting Policies – Tax expense
207-2	Tax governance, control, and risk management	Note 9 to the Financial Statements – Significant Accounting Policies – Tax expense
207-3	Stakeholder engagement and management of concerns related to tax	Table 03 – Mode and Frequency of Stakeholder Engagement: Regulators and policy makers
207-4	Country-by-country reporting	Note 9 to the Financial Statements – Significant Accounting Policies – Tax expense
Energy GRI 302: Energy 2016
302-1	Energy consumption within the organisation	Annex 4: Our Sustainability Footprint
302-2	Energy consumption outside of the organisation		302-2	Not applicable	Due to the nature of the operations of the Bank
302-3	Energy intensity		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
302-5	Reductions in energy requirements of products and services		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
305-2	Energy indirect (Scope 2) GHG emissions	Annex 4: Our Sustainability Footprint
305-3	Other indirect (Scope 3) GHG emissions		305-3	Not applicable	Due to the nature of the operations of the Bank
305-4	GHG emissions intensity		305-4	Not applicable
305-5	Reduction of GHG emissions		305-5	Not applicable
305-6	Emissions of ozone-depleting substances (ODS)		305-6	Not applicable
305-7	Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions		305-7	Not applicable
Employment GRI 401: Employment 2016
401-1	New employee hires and employee turnover	Annex 4: Our Sustainability Footprint
401-2	Benefits provided to full-time employees that are not provided to temporary or part-time employees	Note 7.8 to the Financial Statements: Employee benefits
401-3	Parental leave	Annex 4: Our Sustainability Footprint
Occupational health and safety GRI 403: Occupational Health and Safety 2018
403-1	Occupational health and safety management system	Peaking in Tough Times: Optimised operations
403-2	Hazard identification, risk assessment, and incident investigation	A Transformed Working Environment: Metamorphosis of enterprise
403-3	Occupational health services		403-3	Not applicable	Due to the nature of the operations of the Bank
403-4	Worker participation, consultation, and communication on occupational health and safety		403-4	Not applicable
403-5	Worker training on occupational health and safety		403-5	Not applicable
403-6	Promotion of worker health	A Transformed Working Environment: Metamorphosis of enterprise
403-7	Prevention and mitigation of occupational health and safety impacts directly linked by business relationships		403-7	Not applicable	Due to the nature of the operations of the Bank
403-8	Workers covered by an occupational health and safety management system		403-8	Not applicable	Due to the nature of the operations of the Bank
403-9	Work-related injuries	There has been no injuries during the year
403-10	Work-related ill health		403-10	Not applicable	Due to the nature of the operations of the Bank
Training and education GRI 404: Training and Education 2016
404-1	Average hours of training per year per employee	Annex 4: Our Sustainability Footprint
404-2	Programs for upgrading employee skills and transition assistance programs	Training and Development of Staff: Stepping Up
		The Banking Vocation: Impassioned Caretakers
		Staff Training: Learning Curves
404-3	Percentage of employees receiving regular performance and career development reviews	Annex 4: Our Sustainability Footprint
Diversity and equal opportunity GRI 405: Diversity and Equal Opportunity 2016
405-1	Diversity of governance bodies and employees	Brilliant Colours of Diversity: Financial Strokes
		Figure – 22 Composition of Board (as at December 31, 2022)
		Annex 4: Our Sustainability Footprint
405-2	Ratio of basic salary and remuneration of women to men	Annex 4: Our Sustainability Footprint
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.

		Location
Non GRI disclosures		Report commentary title
	Instability and lack of policy consistency	Operating Context and Outlook
	Economic slowdown	Operating Context and Outlook
	Directed lending	Uplifting the Small and Medium Enterprises (SMEs): Lending Matters
	Higher regulatory capital	Financial Review- Capital
	Envisaged upturn in private sector credit and improvement in asset quality	Operating Context and Outlook
	Changing customer expectations	Customer centricity

Supplementary Information

Annex 3: GRI Content Index