Ceylinco Life to restore 50 ha of land under project with University of Kelaniya

Signs MoU to work with University’s Centre for Sustainability Solutions as part of Company’s zero carbon emissions agenda

An initiative to restore and maintain fifty hectares (123.5 acres) of land owned by the Department of Forest Conservation in the Puttalam range is being supported by Ceylinco Life in collaboration with the University of Kelaniya, as part of the life insurance leader’s commitment to the environment and its effort to achieve zero carbon emissions status.

To pave the way for this endeavour, Ceylinco Life’s Chairman Mr R. Renganathan signed a Memorandum of Understanding (MoU) with Prof. D. M. Semasinghe, the Vice Chancellor of the University of Kelaniya.

Announcing the signing of the MoU between the two institutions, Ceylinco Life said it would work with the Kelaniya University’s Centre for Sustainability Solutions to develop the forest patch which has been identified as degraded by the Department of Forest Conservation. The project will contribute towards environmental conservation and biodiversity maintenance in the land located in the Wanniyagama Beat of the Puttalam Range, in Karuwalagaswewa Divisional Secretariat area.

The Company said it has already embarked on a comprehensive Green agenda that includes converting its branches to eco-friendly operations, and the credits earned from the reforestation project could be set off against the progressively reducing environment footprint of Ceylinco Life, which is targeting zero carbon emissions in the near future.

University of Kelaniya will prepare the forest management plan which will be approved by the Department of Forest Conservation. Ceylinco Life will contribute in preparing the land, implementation of restoration strategies and maintenance thereafter as stipulated in the forest management plan. All costs involved in collecting necessary information and data in preparation of a forest management plan, and its implementation and monitoring will be borne by Ceylinco Life, under the terms of the agreement.

During the project period, University of Kelaniya will observe the proper maintenance of the reforested land, conduct field surveys and research studies in the forest to collect relevant information and data to formulate the forest management plan and conduct academic programmes in the restored forest land as needed for undergraduates and other relevant stakeholders. Department of Forest Conservation and relevant officers in the area are actively providing necessary guidance and assistance and all the activities proposed are under their surveillance.

Commenting on this milestone collaboration with University of Kelaniya and its Centre for Sustainability Solutions, Ceylinco Life Chairman Mr R. Renganathan said: “Although our carbon footprint is much lower than that of a manufacturing entity, Ceylinco Life has been on a mission to be environment-friendly and has been converting many of its branches to operate on solar power and to use harvested rain water.  We have established 26 Green branches to date, built according to the Company’s sustainable energy model, and more are planned. This reforestation project is a perfect match for our ethos of eco-friendly operations and provides an opportunity to give back to the community by contributing towards a greener environment.”

The market leader in Sri Lanka’s life insurance industry for 16 of the 32 years it has been in operation, Ceylinco Life has close to a million lives covered by active policies and is acknowledged as a benchmark in the local insurance industry for innovation, product research and development, customer service, professional development and corporate social responsibility.

Ceylinco Life was adjudged Sri Lanka’s most valuable life insurance brand by Brand Finance in 2019, ranked among the 10 ‘Most Admired Companies’ in the country by the ICCSL this year, named the Best Life Insurer in Sri Lanka for the sixth consecutive year in 2019 by World Finance, and has also been declared the most popular life insurance company in the country for the past 13 years by SLIM-Nielsen.