Fifteen awards across six industry categories confirm commitment to better reporting
Diesel & Motor Engineering PLC (DIMO) demonstrated its unique brand of corporate stewardship by donning the crown as overall winner at the twelfth ACCA Sustainability Reporting Awards, while Dialog Axiata was adjudged the overall Runner Up. Pushing boundaries of transparency and accountability in reporting practices, an additional thirteen awards were presented across six industry categories. Since the genesis of the awards, which are held across over 25 countries across the globe, ACCA has succeeded in infusing best practices in sustainability reporting which are imperative to sustainable business. Judged on the triad of the 3 Cs of Completeness, Credibility and Communication, there are over 3,000 companies worldwide conforming to sustainability reporting on the guidelines of the Global Reporting Initiative.
DIMO also demonstrated its prowess in the Conglomerates and Diversified category winning that category, while John Keells Holdings was Runner Up. Commercial Bank of Ceylon won the award in the Banking category, with Sampath Bank being Runner-Up, while in Financial Services & Insurance, Union Assurance PLC gained top spot. Mercantile Investment & Finance and LB Finance emerged joint Runners-Up. Ceylon Cold Stores was the winner in Retail and Trading, with Bodyline adjudged Runner up and in the Leisure and Connected Services, John Keells Hotels bagged the top award, with Aitken Spence Hotel Holdings emerging Runner-up. Dialog Axiata and Nawaloka Hospitals were adjudged winner and Runner up in General Services (Utilities).
Chief Guest Minister of Prison Reforms, Rehabilitation, Resettlement and Hindu Religious Affairs D M Swaminathan commended ACCA for motivating and recognizing the precepts of sustainability through the reporting process. “These competitive awards are an excellent initiative and help the corporate sector to go beyond the profit and profitability focused criteria.” This was well echoed in the ACCA theme of, ‘Think Ahead’, which urged young people to articulate their expectations from adults and the ideal planet they would like to live in. Within this concept, The Music Project, an initiative that brings together young students from five schools across the country, demonstrated that music can be a uniting factor for sustainable unity, with a unique demonstration of body percussion and barrel drumming. The theme carried through with a scintillating rendition of John Lennon’s Imagine by young operatic baritone Sanjeev Niles imploring the audience to think ahead and imagine a world that thrives on sustainable peace.
President of the Member Network Panel of ACCA Sri Lanka Danushka Samarasinghe in his welcome address said, “Given the importance in terms of business ethics and accountability, sustainability reporting has become an important element in both the private and public sector. Therefore, in the current dynamic environment, we need to focus on the responsibilities institutions have towards society at large.” Head of ACCA Sri Lanka Nilusha Ranasinghe echoed these sentiments saying the awards seek to encourage the adoption of integrated reporting. “This encompasses environmental, social and sustainability information to raise awareness of corporate transparency issues and increase accountability for responsiveness to stakeholders.”
Consultant to the Panel of Judges Franklyn Amerasinghe commended, stating it was heartening to see a large number of companies moving to comply with the GRI G4 requirements to ensure comprehensive reporting. “Many had also tried out the integrated format for the first time. It is perhaps worth reiterating that integrated reporting demonstrates that an organization regards the non-financial aspects as more than relevant to the conduct of their businesses and that it is mainstreamed.”
Judged on the criteria of completeness, credibility and communication, the panel of judges comprised
Prema Cooray Chief Executive Officer Rainforest Ecolodge (Pvt) Ltd, Sriyani Hulugalle Senior Economist Finance and Private Sector Development Unit World Bank, Michel Nugawela Managing Director MND/Interbrand, Dr Samanthi Senaratne Professor in Accounting, Department of Accounting Faculty of Management Studies and Commerce University of Sri Jayewardenepura.