Ceylinco Life has undertaken the reforestation of 10 acres of degraded rainforest in Balangoda and its maintenance for five years, as a corporate sustainability initiative.
An investment of Rs 5.7 million, the project will be executed in collaboration with the non-profit environmental organisation Rainforest Protectors of Sri Lanka, and will entail planting 10,000 trees, the life insurance market leader said.
The land to be reforested is located in the Rajawaka Forest Reserve area in Balangoda, on the border of the wet and intermediate zones, and is part of an ecosystem of grass, shrubland, mountains and catchment blocks. It has been degraded over the years by man-made fires that have destroyed the natural habitat.
The objective of the project is to restore the area to forest and help the local community to protect the environment, thereby improving and enhancing the catchments and water security, reducing the frequency of fire and improving fire resistance, building up biodiversity, improving soil fertility and facilitating microorganism activity, and restoring the habitat for pollinator colonies such as bees and hornets.
The project would also provide different community benefits, including essential education on the importance of conservation, and generate long-term carbon benefits. The Company said 50 species of native trees that are endemic to the area including major canopy species, are to be planted in the 10-acre site.
Ceylinco Life has also embarked on a comprehensive Green agenda that includes converting its branches to eco-friendly operations. More than 30 Ceylinco Life branch buildings that are company owned are powered by solar energy and are designed and equipped to minimise their environmental footprint.
Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for nine years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.
Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s one million policyholders.
