Sri Lanka Insurance goes green with ISO 14064-1:2018 Standards

Sri Lanka Insurance (SLIC) has yet again endorsed its strength as the national insurer by achieving a significant milestone in its sustainability efforts. Reaffirming its commitment to environmental responsibility and transparency, SLIC has received Greenhouse Gas Verification in line with ISO standards by meeting the requirements ISO 14064-1:2018 and been verified as per the specification of ISO 14064-3:2019 standard, according to a company media release.   

ISO 14064 is a globally recognised standard that sets forth guidelines for quantifying, monitoring, and reporting greenhouse gas emissions. Compliance with these standards demonstrates SLIC's commitment to environmental sustainability and corporate responsibility. Furthermore, it also demonstrates SLIC’s dedication to reducing its carbon footprint and contributing to the fight against climate change. By accurately measuring and reporting its greenhouse gas emissions, the company takes a significant step towards better understanding and addressing its environmental impact. This move aligns with global efforts to combat climate change and adhere to international climate agreements

The GHG emissions from all the activities within the company boundary including energy consumed by buildings, industrial operations and vehicles of the company are measured by the organisation’s Carbon Footprint. When the emissions are quantified, major sources of emissions are identified and areas for emission reduction and efficiency improvements are targeted. By quantifying the Greenhouse gas emission, SLIC intend to reduce the emission by various means with the support of the staff.

The verification process was conducted by Sri Lanka Climate Fund (Pvt) Ltd., an accredited third-party organisation, ensuring impartiality and accuracy. The verification included a series of assessments supplemented with the activities of the SLIC which included Head office and the branch network. ISO 14064-1:2018 specifies the principles and requirements for designing, developing, and managing an organization's GHG inventory, while ISO 14064-3:2019 outlines the validation and verification of GHG assertions.