Standard Chartered Sri Lanka’s Impactful Employee Volunteering

Anuk De Silva, Head of Corporate Affairs, Brand & Marketing of Standard Chartered Sri Lanka, on how the bank places a strong emphasis on employee volunteering and community engagement, with a commitment to making a positive impact on society. This includes active employee participation in various volunteering activities, partnerships with NGOs, and financial support for projects that empower vulnerable communities. These initiatives align with the bank’s key strategic priorities, demonstrating its commitment to ESG principles and community well-being.

Standard Chartered Sri Lanka places importance on Employee Volunteering and Community Engagement. Could you describe how the bank actively involves its employees in community initiatives?

Volunteering benefits our communities and positively impacts our employees and banking business, as it serves as a valuable means to enhance employee well-being by allowing them to make a difference by dedicating their time, skills, and expertise to local partners addressing community issues.

In 2023 to date, an impressive 95.3% of Standard Chartered Sri Lanka staff actively participated in several employee volunteering activities, cumulatively contributing 726 volunteering days. This exceptional level of engagement placed us at the forefront in Asia and ranked us third globally among our network of Standard Chartered entities for employee participation. Throughout the year, our employees actively engaged in a diverse range of volunteering activities, including mentoring youth, distributing stationery, organizing blood donation drives, visiting elderly homes and orphanages, planting trees, conducting beach clean-ups, and providing meals to those in need.

Why is this important for the bank, and how does it align with its long-term objectives?

As a bank, our commitment is to operate as a sustainable and responsible company, with a strong focus on collaborating with local partners to drive social and economic development within our society. Central to our community engagement strategy is employee volunteering, which serves as a crucial element. It enables us to harness our knowledge and expertise for a positive impact in our communities while promoting employee well-being and aligning teams with the core business objectives of the bank.

At Standard Chartered, we empower each of our employees with the opportunity to actively contribute to making a difference through volunteering. We allocate three days of paid leave annually, allowing our employees to engage in volunteer activities of their choice. This initiative not only fosters meaningful connections within our communities but also fosters skill development and provides fresh perspectives. Ultimately, this enriches our employees and enhances our collective impact on the communities we serve.

In line with the growing emphasis on corporate responsibility, how does Standard Chartered Sri Lanka contribute to the well-being of the local community? 

We have consistently prioritized the well-being of our communities, particularly those facing vulnerability and disadvantage. Two years ago, we initiated two projects with funding from the Standard Chartered Foundation. In a two-year partnership with SOS Children’s Villages Sri Lanka, we allocated $290,445 for youth reskilling programmes. This project supported 350 disadvantaged youth, equipping them with valuable skills to address socio-economic challenges.

Additionally, we collaborated with Women Win, a global women’s fund, and SERVE, their NGO partner in Sri Lanka, to launch ‘Shaktheen.’ This women empowerment programme, sustained by a $209,158 donation over 24 months, benefited 500 women in the informal sector severely impacted by the Covid-19 pandemic. It provided increased access to loan capital, vocational training, and business skills development opportunities, empowering women to enhance their businesses and generate new income.

During the challenging pandemic period, we extended support to the broader economy. We provided financing for four million vaccine doses to expedite the national Covid-19 vaccination programme through the State Pharmaceuticals Corporation. Additionally, in August 2020, we contributed $500,000 (approximately Rs92.5 million) through the Sri Lanka Red Cross Society to aid local emergency relief activities and procure approximately 13,000 Covid-19 testing kits for the community.

Sri Lanka achieved a significant milestone by becoming the first in South Asia to complete a drawdown under the Standard Chartered global $1 billion financing programme. We facilitated drawdowns exceeding $45 million, greatly benefiting Personal Protective Equipment (PPE) manufacturers. This support enabled them to expand their production capacity for critical PPE items such as medical gloves, protective gloves, and face masks. Furthermore, apparel and textile manufacturers adversely affected by the pandemic successfully transitioned to producing and exporting essential PPE supplies to countries like the US.

Standard Chartered is committed to ESG principles and community well-being. Could you explain how the bank integrates these values into its core operations and decision-making processes? 

As a leading financial institution, we promote sustainable finance in our markets, while investing where it is needed most. We strive to be a responsible company, minimizing our environmental impact, investing in our people and embedding our values across our business in the markets we operate in. We promote economic inclusion in our markets, delivering community programmes aimed at tackling inequality, supporting young people and encouraging entrepreneurship.

Our approach is grounded in two interconnected principles driven by our history, global reach, diversity, and capabilities. Our Valued Behaviours – ‘Never Settle,’ ‘Better Together,’ and ‘Do the Right Thing’ – shape our approach to challenges and unlock our full potential. Our Brand Promise, ‘here for good,’ reflects our commitment to helping individuals and businesses succeed while prioritizing sustainability and corporate responsibility. We continually question how we can make a more positive impact on the world, guiding our decisions and actions daily.

Additionally, we’re dedicated to expanding our social impact through ‘Futuremakers by Standard Chartered,’ addressing inequality and promoting economic inclusion for young people, predominantly women, in the markets we serve.