Business
Nestlé Lanka receives carbon footprint verification for its upstream coconut value chain from the Sri Lanka Climate Fund
Helps the company in its journey of achieving net zero emissions by 2050
Nestlé Lanka successfully completed the coconut value chain analysis from raw material acquisition up to reception at its Kurunegala factory and received carbon footprint verification from the Sri Lanka Climate Fund, making the company the first in Sri Lanka to complete the verification for the upstream coconut value chain. Recommendations from the analysis will be used as a guiding light to develop a comprehensive roadmap to neutralize emissions in the company’s coconut value chain and move towards regenerative agricultural practices, in its journey of achieving net zero emissions by 2050.
“It is a privilege to have received carbon footprint verification from an esteemed organization such as the Sri Lanka Climate Fund, bearing testament to our unwavering commitment towards doing good for the planet. As coconut is one of our main ingredients, this verification is a significant milestone in our net zero journey, helping further reduce emissions in our coconut value chain. Sustainability is embedded into the way we do business; we work together with our stakeholders from farm to fork to deliver on our promise of ‘Good food, Good life’, whilst accelerating our efforts towards net zero. Towards this end, we will also conduct similar analyses to other value chains as well” said Jason Avanceña, Managing Director, Nestlé Lanka.
As one of the largest exporters of coconut milk powder in the country, Nestlé Lanka contributes towards the socio-economic development of Sri Lanka, helping uplift the local coconut industry and creating sustainable livelihoods for farming communities. Since the introduction of Maggi Real Coconut Milk Powder in 1986, the company has supported the livelihoods of over 8,000 local coconut farmers. In 2021, the company contributed Rs. 6 billion to the local coconut industry procuring over 94 million coconuts to produce Maggi Real Coconut Milk Powder, which is sold in over 50 countries worldwide, contributing towards the generation of foreign exchange.
Recognizing Nestlé Lanka’s significant contribution to the country’s export sector, the company was awarded the Best Exporter in the Coconut Kernel Sector for the financial years 2019/2020 and 2020/2021, at the 24th Presidential Export Awards organized by the Sri Lanka Export Development Board (EDB).
Driven by its purpose of ‘unlocking the power of food to enhance quality of life for everyone, today and for generations to come’, Nestlé has nourished generations of Sri Lankan families with high quality food and beverages from early childhood to old age. Having started its operations in Sri Lanka in 1906, today, Nestlé has become an integral part of Sri Lankan lives and contributes to the livelihoods of more than 25,000 Sri Lankan dairy and coconut farmers and out growers and provides direct employment to over 800. The company manufacture over 90% of its products sold in Sri Lanka locally at their state-of-the-art factory in Kurunegala, employing strict safety and quality controls.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
Commercial Bank leads nationwide aquatic clean-up drive
Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.
Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.
The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.
Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.
The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.
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