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Alliance Finance Company (AFC) has announced the launch of a pioneering new sustainability initiative that is aimed at promoting environmental conservation in Sri Lanka. The project “AFC Hapannu Forest” is a forest created by the child savers of the company and dedicated to the future generations of children. The “AFC Hapannu Forest” is being created close to the Mailapitiya Ranaviru Memorial Tower at Mailapitiya South, Kandy District. The project site is a denuded land of 60 acres owned by the Forest Department of Sri Lanka, which is situated approximately 163 kilometres from Colombo on the Colombo Kandy route and 20.2km from Kandy through the Haragama/ Randenigala route. The project is being developed with the collaboration of the district Forest Office Kandy and is managed under the command of the Conservator of Forest.

The project’s main aim is to teach youngsters about the benefits of forest trees and ecosystems while also encouraging them to save for the future. AFC hopes that school children and youth will visit the site in Mailapitiya, Dulgolla and benefit from the educational opportunities provided by the forest. The forest will be a unique way for children to connect with nature and learn about the responsibility and value of protecting the environment. The project began with the planting of 100 trees on May 9, 2023, with the participation of school children, district forest officials in Kandy, police officials, religious leaders, and others. With AFC’s financial assistance in the first year, over 4000 plants were planted within the designated 8-hectare area. Presently, AFC is supporting the second phase of the project by providing financial assistance to plant 5400 plants, covering an area of 9 hectares.

As part of the initiative, the company plans to organize educational tours and events for children to help them understand the vital role forests play in the ecosystem. The implementation of this project will have a positive impact on reducing the national carbon footprint. This project also supports the 1.33 million AFC tree planting program. As of now, AFC has successfully planted more than 730,000 trees as a part of this initiative.

Alliance Finance Company has made a commitment to plant a tree for every child account holder it has, as part of an effort to enhance the natural environment in the surrounding areas. The company will also contribute to improving the flora and fauna in these areas while supporting efforts to conserve water and protect the natural habitats of the region. Specifically, the company will focus on the Victoria-Randenigala reservoir catchment area, which is a critical water source for the region. Through this initiative, Alliance Finance Company aims to support sustainable development and promote a healthy and vibrant ecosystem for future generations.

The inauguration of the AFC Hapannu Forest comes at a time when environmental protection has become a global priority. Sri Lanka, in particular, has faced challenges as a result of deforestation, soil erosion, and other environmental issues. The establishment of this forest is an important step towards boosting ecological protection in the country.

The launch of the AFC Hapannu Forest is a remarkable and pioneering initiative highlighting the importance of environmental conservation and encouraging the younger generation to take an active role in safeguarding our planet. It is a step in the right direction towards creating a sustainable future, and AFC hopes that other companies will follow suit and launch similar initiatives to promote environmental conservation.

About Alliance Finance PLC

Alliance Finance Company PLC, the oldest finance company in Sri Lanka is committed to sustainability and has taken significant steps towards achieving the UN-approved Sustainable Development Goals and the Paris Climate Agreement. The company has undertaken initiatives to combat climate change, promote social entrepreneurship, and ensure biodiversity conservation and ecosystem restoration. In 2020, Alliance Finance Company PLC became the first certified financial institution in South Asia under the Sustainability Standards and Certification Initiative (SSCI), attesting to its long-standing commitment to sustainability.

(From left) Nishantha Edirisinghe, Conservator General, Department of Forest Conservation of Sri Lanka, receiving the token of the AFC Hapannu Project Partnership by Michael Benedict, Executive Director – Recoveries, Alliance Finance Company with Mahinda Gunesekera, Chief Facilitator – Climate Finance & Sustainability, Alliance Finance Company at the Department of Forest Conservation Headquarters.

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