Features
Navigating ESG Landscape: A review of KPMG’s research report
KPMG, my alma mater, has recently published a research report focusing on Environmental, Social, and Governance (ESG), presenting eight key findings; “Anchoring ESG in governance: Taking a strategic approach towards corporate governance, board-level responsibility and reporting.”
“ESG in governance” refers to the integration of environmental, social, and governance factors into governance practices within organizations. ESG governance encompasses the policies, processes, and structures through which companies manage and oversee their environmental, social, and governance responsibilities. It emphasizes the integration of sustainability considerations into decision-making processes at all levels of the organization, aligning with broader corporate governance principles.
This report is based on in-depth interviews conducted by the KPMG International research team, comprising professionals from the UK, Germany, Korea, and the US. The team has interviewed 50 sustainability executives. Interviewees include senior executives in ESG function from across a range of sectors from Belgium, Brazil, Canada, France, Germany, Ireland, Sri Lanka, Switzerland, The Netherlands and the United Kingdom.
The main findings are as follows:Sustainability has arrived at the top of corporate structures. It is a board-level responsibility, led by chief executive officers in almost half of the corporates in this research. Almost all have made it a strategic issue or adopted a purpose-driven approach.
Sustainability-focused organizations are still developing in maturity, with changes continuing to take place. Even the most advanced corporates are having to adapt to increasing ESG reporting requirements, such as the European Union’s (EU) Corporate Sustainability Reporting Directive (CSRD).
Group sustainability units can adapt to ESG’s increasing importance by taking a more strategic approach, working with other departments and no longer trying to do everything connected with sustainability themselves.
Group sustainability units vary widely in structure, with some primarily functional and others more agile in their operations.
Just under half of the corporates in this research discuss ESG through either a dedicated board-level sustainability committee or another specific committee, such as audit.
Some heads of sustainability feel vulnerable alongside other departments that covet their increasingly high-status work. Group sustainability units usually lead on setting, monitoring and implementing ESG strategy and reporting. However, finance and accounting departments are becoming more involved in ESG reporting, with some taking some or all responsibility for the work.
Despite its increasing importance, the corporates in this research tend to have relatively small teams working on non-financial reporting with just over half having three or fewer full-time equivalent staff.
The research finds that key performance indicators based on sustainability are mostly externally reported on an annual basis, although many corporates track them quarterly for internal purposes.
Just under half of the corporates in this research link between 16 and 25 percent of variable executive pay to sustainability indicators.
These highlight a widespread acknowledgment among corporate stakeholders regarding the importance of Environmental, Social, and Governance (ESG) considerations. However, there are several areas of critique and areas for further exploration:
Top-Level Responsibility and Strategic Focus: The fact that almost half of the corporates surveyed have their board-level responsibility led by chief executive officers demonstrates a positive trend towards recognizing the importance of sustainability at the highest levels of corporate governance. However, while it’s commendable that almost all of them have made sustainability a strategic issue or adopted a purpose-driven approach, the efficacy of these approaches in driving meaningful change remains to be seen. Mere adoption of strategic language does not always translate into tangible action.
Maturity of Sustainability-Focused Organizations:The acknowledgment that sustainability-focused organizations are still developing in maturity indicates an ongoing evolution within the corporate landscape. However, it would be beneficial for the report to examine deeper into the specific challenges and opportunities faced by these organizations in their journey towards maturity. Understanding these factors could provide valuable insights for both practitioners and policymakers.
Adaptation to ESG Reporting Requirements:The mention of corporates, even the most advanced ones, having to adapt to increasing ESG reporting requirements, such as the EU’s Corporate Sustainability Reporting Directive, highlights the evolving regulatory landscape. However, it would be insightful to explore the specific strategies adopted by these corporates to navigate these regulatory changes effectively, as well as any associated challenges they encounter.
Strategic Approach of Group Sustainability Units:The recommendation for group sustainability units to take a more strategic approach and collaborate with other departments reflects a holistic understanding of sustainability integration within organizational structures. However, the report could provide more concrete examples of successful collaboration models and best practices to guide other organizations in similar endeavours.
Variability in Group Sustainability Unit Structures:The acknowledgment of variability in the structures of group sustainability units underscores the diverse approaches adopted by corporates in managing sustainability-related functions. However, it would be beneficial for the report to analyze the strengths and weaknesses of different structural models and their implications for organizational performance and resilience.
Board-Level Oversight of ESG:The finding that just under half of the corporates discuss ESG through either a dedicated board-level sustainability committee or another specific committee indicates a mixed approach to governance oversight. It would be interesting to explore the effectiveness of different oversight mechanisms in driving sustainable business practices and stakeholder value creation.
Vulnerability of Heads of Sustainability:The vulnerability felt by heads of sustainability alongside other departments highlights potential tensions within organizations regarding the ownership and management of sustainability initiatives. Further examination of these tensions and potential strategies for mitigating them could provide valuable insights for organizational leaders seeking to foster a more collaborative and inclusive approach to sustainability governance.
Role of Group Sustainability Units in Strategy and Reporting:The central role played by group sustainability units in setting, monitoring, and implementing ESG strategy and reporting underscores their importance within organizational structures. However, the increasing involvement of finance and accounting departments in ESG reporting raises questions about the delineation of responsibilities and potential overlaps or conflicts of interest.
Resource Constraints in Non-Financial Reporting Teams:The revelation that the corporates tend to have relatively small teams working on non-financial reporting highlights potential resource constraints in this critical area. It would be valuable for the report to explore the implications of these resource constraints for data quality, reporting accuracy, and overall organizational sustainability performance.
Linkage of Executive Pay to Sustainability Indicators:The finding that just under half of the corporates link between 16 and 25 percent of variable executive pay to sustainability indicators indicates a growing recognition of the importance of aligning executive incentives with sustainable business practices. However, the report could investigate deeper into the specific sustainability indicators used for performance evaluation and the associated impact on organizational behaviour and decision-making processes.
The research finding that decarbonising business models and reducing greenhouse gas emissions are the most frequently included topics in ESG strategies among almost all respondents is indeed significant. However, there are several aspects of this finding that warrant further scrutiny and critique.
While it’s informative to know that decarbonization and emissions reduction are prevalent in ESG strategies, the report could benefit from providing more specific details about the strategies being employed by these corporates. It’s essential to assess whether these corporates are merely paying lip service to decarbonization or if they have robust and ambitious plans in place to achieve meaningful emissions reductions. Without this information, it’s challenging to evaluate the effectiveness and impact of their sustainability initiatives. Understanding the relative prioritization and integration of various ESG topics would provide a more nuanced understanding of corporate sustainability efforts.
In conclusion, while the outlined steps provide a comprehensive framework for enhancing sustainability-focused organizations within corporates, it is essential for corporates to tailor these steps to their specific contexts, priorities, and challenges. Continuous monitoring, evaluation, and adaptation are key to ensuring the effectiveness and sustainability of sustainability initiatives in driving long-term value creation. Also, while the findings presented in the research report provide valuable insights into the current state of ESG integration within corporate governance structures, there are opportunities for further analysis and exploration to enhance our understanding of best practices, challenges, and emerging trends in this rapidly evolving field.
(The writer, a senior Chartered Accountant and professional banker, is Professor at SLIIT University, Malabe. He is also the author of the “Doing Social Research and Publishing Results”, a Springer publication (Singapore), and “Samaja Gaveshakaya (in Sinhala). The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the official policy or position of the institution he works for. He can be contacted at saliya.a@slit.lk and www.researcher.com)
Features
Sheer rise of Realpolitik making the world see the brink
The recent humanly costly torpedoing of an Iranian naval vessel in Sri Lanka’s Exclusive Economic Zone by a US submarine has raised a number of issues of great importance to international political discourse and law that call for elucidation. It is best that enlightened commentary is brought to bear in such discussions because at present misleading and uninformed speculation on questions arising from the incident are being aired by particularly jingoistic politicians of Sri Lanka’s South which could prove deleterious.
As matters stand, there seems to be no credible evidence that the Indian state was aware of the impending torpedoing of the Iranian vessel but these acerbic-tongued politicians of Sri Lanka’s South would have the local public believe that the tragedy was triggered with India’s connivance. Likewise, India is accused of ‘embroiling’ Sri Lanka in the incident on account of seemingly having prior knowledge of it and not warning Sri Lanka about the impending disaster.
It is plain that a process is once again afoot to raise anti-India hysteria in Sri Lanka. An obligation is cast on the Sri Lankan government to ensure that incendiary speculation of the above kind is defeated and India-Sri Lanka relations are prevented from being in any way harmed. Proactive measures are needed by the Sri Lankan government and well meaning quarters to ensure that public discourse in such matters have a factual and rational basis. ‘Knowledge gaps’ could prove hazardous.
Meanwhile, there could be no doubt that Sri Lanka’s sovereignty was violated by the US because the sinking of the Iranian vessel took place in Sri Lanka’s Exclusive Economic Zone. While there is no international decrying of the incident, and this is to be regretted, Sri Lanka’s helplessness and small player status would enable the US to ‘get away with it’.
Could anything be done by the international community to hold the US to account over the act of lawlessness in question? None is the answer at present. This is because in the current ‘Global Disorder’ major powers could commit the gravest international irregularities with impunity. As the threadbare cliché declares, ‘Might is Right’….. or so it seems.
Unfortunately, the UN could only merely verbally denounce any violations of International Law by the world’s foremost powers. It cannot use countervailing force against violators of the law, for example, on account of the divided nature of the UN Security Council, whose permanent members have shown incapability of seeing eye-to-eye on grave matters relating to International Law and order over the decades.
The foregoing considerations could force the conclusion on uncritical sections that Political Realism or Realpolitik has won out in the end. A basic premise of the school of thought known as Political Realism is that power or force wielded by states and international actors determine the shape, direction and substance of international relations. This school stands in marked contrast to political idealists who essentially proclaim that moral norms and values determine the nature of local and international politics.
While, British political scientist Thomas Hobbes, for instance, was a proponent of Political Realism, political idealism has its roots in the teachings of Socrates, Plato and latterly Friedrich Hegel of Germany, to name just few such notables.
On the face of it, therefore, there is no getting way from the conclusion that coercive force is the deciding factor in international politics. If this were not so, US President Donald Trump in collaboration with Israeli Rightist Premier Benjamin Natanyahu could not have wielded the ‘big stick’, so to speak, on Iran, killed its Supreme Head of State, terrorized the Iranian public and gone ‘scot-free’. That is, currently, the US’ impunity seems to be limitless.
Moreover, the evidence is that the Western bloc is reuniting in the face of Iran’s threats to stymie the flow of oil from West Asia to the rest of the world. The recent G7 summit witnessed a coming together of the foremost powers of the global North to ensure that the West does not suffer grave negative consequences from any future blocking of western oil supplies.
Meanwhile, Israel is having a ‘free run’ of the Middle East, so to speak, picking out perceived adversarial powers, such as Lebanon, and militarily neutralizing them; once again with impunity. On the other hand, Iran has been bringing under assault, with no questions asked, Gulf states that are seen as allying with the US and Israel. West Asia is facing a compounded crisis and International Law seems to be helplessly silent.
Wittingly or unwittingly, matters at the heart of International Law and peace are being obfuscated by some pro-Trump administration commentators meanwhile. For example, retired US Navy Captain Brent Sadler has cited Article 51 of the UN Charter, which provides for the right to self or collective self-defence of UN member states in the face of armed attacks, as justifying the US sinking of the Iranian vessel (See page 2 of The Island of March 10, 2026). But the Article makes it clear that such measures could be resorted to by UN members only ‘ if an armed attack occurs’ against them and under no other circumstances. But no such thing happened in the incident in question and the US acted under a sheer threat perception.
Clearly, the US has violated the Article through its action and has once again demonstrated its tendency to arbitrarily use military might. The general drift of Sadler’s thinking is that in the face of pressing national priorities, obligations of a state under International Law could be side-stepped. This is a sure recipe for international anarchy because in such a policy environment states could pursue their national interests, irrespective of their merits, disregarding in the process their obligations towards the international community.
Moreover, Article 51 repeatedly reiterates the authority of the UN Security Council and the obligation of those states that act in self-defence to report to the Council and be guided by it. Sadler, therefore, could be said to have cited the Article very selectively, whereas, right along member states’ commitments to the UNSC are stressed.
However, it is beyond doubt that international anarchy has strengthened its grip over the world. While the US set destabilizing precedents after the crumbling of the Cold War that paved the way for the current anarchic situation, Russia further aggravated these degenerative trends through its invasion of Ukraine. Stepping back from anarchy has thus emerged as the prime challenge for the world community.
Features
A Tribute to Professor H. L. Seneviratne – Part II
A Living Legend of the Peradeniya Tradition:
(First part of this article appeared yesterday)
H.L. Seneviratne’s tenure at the University of Virginia was marked not only by his ethnographic rigour but also by his profound dedication to the preservation and study of South Asian film culture. Recognising that cinema is often the most vital expression of a society’s aspirations and anxieties, he played a central role in curating what is now one of the most significant Indian film collections in the United States. His approach to curation was never merely archival; it was informed by his anthropological work, treating films as primary texts for understanding the ideological shifts within the subcontinent
The collection he helped build at the UVA Library, particularly within the Clemons Library holdings, serves as a comprehensive survey of the Indian ‘Parallel Cinema’ movement and the works of legendary auteurs. This includes the filmographies of directors such as Satyajit Ray, whose nuanced portrayals of the Indian middle class and rural poverty provided a cinematic counterpart to H.L. Seneviratne’s own academic interests in social change. By prioritising the works of figures such as Mrinal Sen and Ritwik Ghatak, H.L. Seneviratne ensured that students and scholars had access to films that wrestled with the complex legacies of colonialism, partition, and the struggle for national identity.
These films represent the ‘Parallel Cinema’ movement of West Bengal rather than the commercial Hindi industry of Mumbai. H.L. Seneviratne’s focus initially cantered on those world-renowned Bengali masters; it eventually broadened to encompass the distinct cinematic languages of the South. These films refer to the specific masterpieces from the Malayalam and Tamil regions—such as the meditative realism of Adoor Gopalakrishnan or the stylistic innovations of Mani Ratnam—which are culturally and linguistically distinct from the Bengali works. Essentially, H.L. Seneviratne is moving from the specific (Bengal) to the panoramic, ensuring that the curatorial work of H.L. Seneviratne was not just a ‘Greatest Hits of Kolkata’ but a truly national representation of Indian artistry. These films were selected for their ability to articulate internal critiques of Indian society, often focusing on issues of caste, gender, and the impact of modernisation on traditional life. Through this collection, H.L. Seneviratne positioned cinema as a tool for exposing the social dynamics that often remain hidden in traditional historical records, much like the hidden political rituals he uncovered in his early research.
Beyond the films themselves, H.L. Seneviratne integrated these visual resources into his curriculum, fostering a generation of scholars who understood the power of the image in South Asian politics. He frequently used these screenings to illustrate the conflation of past and present, showing how modern cinema often reworks ancient myths to serve contemporary political agendas. His legacy at the University of Virginia therefore encompasses both a rigorous body of writing that deconstructed the work of the kings and a vivid archive of films that continues to document the work of culture in a rapidly changing world.
In his lectures on Sri Lankan cinema, H.L. Seneviratne has frequently championed Lester James Peries as the ‘father of authentic Sinhala cinema.’ He views Peries’s 1956 film Rekava (Line of Destiny) as a watershed moment that liberated the local industry from the formulaic influence of South Indian commercial films. For H.L. Seneviratne, Peries was not just a filmmaker but an ethnographer of the screen. He often points to Peries’s ability to capture the subtle rhythms of rural life and the decline of the feudal elite, most notably in his masterpiece Gamperaliya, as a visual parallel to his own research into the transformation of traditional authority. H.L. Seneviratne argues that Peries provided a realistic way of seeing for the nation, one that eschewed nationalist caricature in favour of complex human emotion.
However, H.L. Seneviratne’s praise for Peries is often tempered by a critique of the broader visual nationalism that followed. He has expressed concern that later filmmakers sometimes misappropriated Peries’s indigenous style to promote a narrow, majoritarian view of history. In his view, while Peries opened the door to an authentic Sri Lankan identity, the state and subsequent commercial interests often used that same door to usher in a simplified, heroic past. This critique aligns with his broader academic stance against the rationalization of culture for political ends.
Constitutional Governance:
H.L. Seneviratne’s support for independent commissions is best described as a hopeful pragmatism; he views them as essential, albeit fragile, instruments for diffusing the hyper-concentration of executive power. Writing to Colombo Page and several news tabloids, H.L. Seneviratne addresses the democratic deficit by creating a structural buffer between partisan interests and public institutions, theoretically ensuring that the judiciary, police, and civil service operate on merit rather than political whim. However, he remains deeply aware that these commissions are not a panacea and are indeed inherently susceptible to the ‘politics of patronage.’
In cultures where power is traditionally exercised through personal loyalties, there is a constant risk that these bodies will be subverted through the appointment of hidden partisans or rendered toothless through administrative sabotage. Thus, while H.L. Seneviratne advocates for them as a means to transition a state from a patron-client culture to a rule-of-law framework, his anthropological lens suggests that the success of such commissions depends less on the law itself and more on the sustained pressure of civil society to keep them honest.
Whether discussing the nuances of a film’s narrative or the complexities of a constitutional clause, H.L. Seneviratne’s approach remains consistent in its focus on the spirit behind the institution. He maintains that a healthy democracy requires more than just the right laws or the right symbols; it requires a citizenry and a clergy capable of critical self-reflection. His career at the University of Virginia and his continued engagement with Sri Lankan public life stand as a testament to the idea that the intellectual’s work is never truly finished until the work of the people is fully realized.
In the context of H.L. Seneviratne’s philosophy, as discussed in his work of the kings ‘the work of the people’ is far more than a populist catchphrase; it represents the practical application of critical consciousness within a democracy. Rather than defining ‘work’ as labour or voting, H.L. Seneviratne views it as the transition of a population from passive subjects to an active, self-reflective citizenry. This means that a democracy is only truly ‘realized’ when the public possesses the intellectual autonomy to look beyond the ‘right laws’ or ‘right symbols’ and instead engage with the underlying spirit of their institutions. For H.L. Seneviratne, this work is specifically tied to the ability of the people—including influential groups like the clergy—to perform rigorous self-critique, ensuring that they are not merely following tradition or authority, but are actively sustaining the ethical health of the nation. It is a perpetual process of civic education and moral vigilance that moves a society from the ‘paper’ democracy of a constitution to a lived reality of accountability and insight.
This decline of the ‘intellectual monk’ had a catastrophic impact on the political landscape, particularly surrounding the watershed moment of 1956 and the ‘Sinhala Only’ movement. H.L. Seneviratne posits that when the Sangha exchanged their role as impartial moral advisors for that of political kingmakers, they became the primary obstacle to ethnic reconciliation. He suggests that politicians, fearing the immense grassroots influence of the monks, entered a state of monachophobia, where they felt unable to propose pluralistic or fair policies toward minority communities for fear of being branded as traitors to the faith. In H.L. Seneviratne’s framework, the monk’s transition from a social servant to a political vanguard effectively trapped the state in a cycle of majoritarian nationalism from which it has yet to escape.
H.L. Seneviratne’s work serves as a multifaceted critique of the modern Sri Lankan state and its cultural foundations. Whether he is dissecting what he sees as the betrayal of the monastic ideal or celebrating the humanistic vision of an Indian filmmaker, his goal remains the same: to champion a world where intellect and compassion are not sacrificed on the altar of political power. His legacy at the University of Virginia and his continued voice in Sri Lankan discourse remind us that the work of the intellectual is to provide a moral compass even, indeed especially, when the nation has lost its way.
(Concluded)
by Professor
M. W. Amarasiri de Silva
Features
Musical journey of Nilanka Anjalee …
Nilanka Anjalee Wickramasinghe is, in fact, a reputed doctor, but the plus factor is that she has an awesome singing voice, as well., which stands as a reminder that music and intellect can harmonise beautifully.
Well, our spotlight today is on ‘Nilanka – the Singer,’ and not ‘Nilanka – the Singing Doctor!’
Nilanka’s journey in music began at an early age, nurtured by an ear finely tuned to nuance and a heart that sought expression beyond words.
Under the tutelage of her singing teachers, she went on to achieve the A.T.C.L. Diploma in Piano and the L.T.C.L. Diploma in Vocals from Trinity College, London – qualifications recognised internationally for their rigor and artistry.
These achievements formally certified her as a teacher and performer in both opera singing and piano music, while her Performer’s Certificate for singing attested to her flair on stage.
Nilanka believes that music must move the listener, not merely impress them, emphasising that “technique is a language, but emotion is the message,” and that conviction shines through in her stage presence –serene yet powerful, intimate yet commanding.
Her YouTube channel, Facebook and Instagram pages, “Nilanka Anjalee,” have become a window into her evolving artistry.
Here, audiences find not only her elegant renditions of local and international pieces but also her original songs, which reveal a reflective and modern voice with a timeless sensibility.
Each performance – whether a haunting ballad or a jubilant interpretation of a traditional hymn – carries her signature blend of technical finesse and emotional depth.
Beyond the concert hall and digital stage, Nilanka’s music is driven by a deep commitment to meaning.
Her work often reflects her belief in empathy, inner balance, and the beauty of simplicity—values that give her performances their quiet strength.
She says she continues to collaborate with musicians across genres, composing and performing pieces that reflect both her classical discipline and her contemporary outlook.
Widely acclaimed for her ability to adapt to both formal and modern stages, with equal grace, and with her growing repertoire, Nilanka has become a sought-after soloist at concerts and special events,
For those who seek to experience her artistry, firsthand, Nilanka Anjalee says she can be contacted for live performances and collaborations through her official channels.
Her voice – refined, resonant, and resolutely her own – reminds us that music, at its core, is not about perfection, but truth.
Dr. Nilanka Anjalee Wickramasinghe also indicated that her newest single, an original, titled ‘Koloba Ahasa Yata,’ with lyrics, melody and singing all done by her, is scheduled for release this month (March)
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