SUSTAINABILITY REPORT - Seylan Bank

160Seylan Bank PLC Annual Report 2010Scope and CoverageThis Sustainability Report covers topics andindicators that reflect the Bank’s most significanteconomic, environmental and social impacts and/or those which would substantively influence theassessment and decisions of our stakeholders.Given the disparate nature (and interests) of variousstakeholders, the Bank is compelled to strategicallydefine its key stakeholders to ensure materialityin its engagement and reporting. Accordingly, theBank defines its principal stakeholders as investors,customers, employees and the communities inwhich it operates. This Report provides an overviewof how the Bank contributes to the improvement ofeconomic, environmental and social conditions of itskey stakeholders and how it manages such impacts.Further, we declare that this SustainabilityReport is restricted to the activities of Seylan Bankalone, and does not include any of its subsidiaries.GOVERNANCE, COMMITMENTS ANDENGAGEMENT GOVERNANCEGovernanceCorporate governance, given its critical importance,has been discussed in detail through a separatereport that is an integral part of the Bank’s AnnualReport.Sustainability StewardshipOur corporate responsibility mechanism is drivenby a board appointed Sustainability ManagementSubcommittee which formulates strategies in linewith the core business of the Bank. The Committeeis assisted by three committees focusing onEconomic, Environmental and Social aspects,which are staffed by senior management personneland volunteers. The Assistant General Manager,Finance-functions as the ‘Sustainability Champion’,and 90 ‘Sustainability Wardens’ comprising Bankstaff who have volunteered to implement thevarious sustainability initiatives at Branch andRegional level.EnvironmentManagementSub CommitteeBoardSustainability SteeringCommittee of the BoardEconomicManagementSub CommitteeSustainability Wardensfrom BranchesStakeholder EngagementSocialManagementSub CommitteeWell managed stakeholder relationships strengthenbusiness. The converse is also true. Hence, the Bankduly considers the identification and the engagementof its various stakeholders as a vital process withinits business operations. Stakeholders are mappedby the level to which they can influence the Bank,and also by the level to which they may be influencedby the Bank. The Bank then targets its engagementstrategy based on materiality.Our main stakeholder groups are:• Investors - shareholders, debenture holders• Customer - depositors, account holders,borrowers, etc.• Employees• Suppliers of goods and services• Correspondent banks – local and international• Regulators• The community in which we operate• Others - business partners, principals, civicsociety, pressure groups, media, industrypeers, competitors.