Horana Plantations PLC Earns Acclaim for Excellence in Integrated Reporting

Mr. Johann Rodrigo, Director/CEO of Horana Plantations PLC, along with Mr. Ajith Nissanka, General Manager of Finance, accepting the First Runner Up Award for the Plantations Sector Best Integrated Report

Mr. Johann Rodrigo Director/CEO of Horana Plantations PLC, along with Mr. Ajith Nissanka, General Manager of Finance, receiving the Merit Award for the Best Integrated Report across all sectors

Management at Horana Plantations PLC along with the team, embracing their well-earned achievement at the prestigious CMA Excellence in Integrated Reporting Awards 2024

Horana Plantations PLC (HPL), a leading Regional Plantation Company (RPC) and a proud member of the Hayleys Group, has been awarded “First Runner-Up” in the “Best Integrated Report - Plantations Sector” at the prestigious CMA Excellence in Integrated Reporting Awards 2024. 

This accolade reflects HPL’s commitment to embedding Environmental, Social, and Governance (ESG) practices across its operations while advancing transparency and accountability in corporate reporting.

Pioneering Sustainable and Ethical Business Practices

HPL has consistently demonstrated leadership in sustainability through strategies focused on emission reduction, biodiversity preservation, and women empowerment. Among its notable initiatives is the SHE-ESSENTIA program, addressing period poverty by producing reusable sanitary napkins for estate communities, and the forest restoration project in partnership with the Wildlife and Nature Protection Society (WNPS). This initiative is the largest private-sector-supported restoration project in Sri Lanka, covering 55 hectares of forest corridor along Maskeliya Oya and 100 hectares along the Kaluganga Basin.

HPL also became the first in Sri Lanka’s rubber sector to comply with the European Union Deforestation Regulation (EUDR) and holds an array of certifications, including Fair Trade, ISO 14001:2015, ECO Label, and Ecosystem Restoration Verification. The company is a signatory to global initiatives such as the UN Global Compact, Climate Neutral Now, and the UNGC CEO Water Mandate.

Notably, two of HPL’s tea estates have achieved carbon-neutral status, verified by the Sri Lanka Climate Fund, enabling the production of carbon-neutral tea for global markets.

Recognition for Transparency and Accountability

The objective of an integrated report is to communicate to financial capital providers the risks and opportunities faced by an organisation, and how organisational value can be generated, sustained, or diminished across the short, medium, and long term. It’s about fostering trust, accountability, and long-term value creation for stakeholders.

For the financial year 2023/24, HPL transitioned to the GRI Sector Standard for Agriculture and adopted the Integrated Reporting Framework. Early adoption of SLFRS S1 (General Requirements for Sustainability Disclosures) and SLFRS S2 (Climate-Related Disclosures) further underscores its dedication to corporate transparency. These steps not only enhance HPL’s ESG reporting but also position the company as a benchmark for sustainable practices in the plantation industry.

The CMA Excellence in Integrated Reporting Awards encourages Sri Lankan companies to present comprehensive reports that integrate financial and non-financial factors, offering stakeholders a clearer understanding of long-term value creation. HPL’s success in these awards reinforces its dedication to offering a transparent and holistic view of its performance, risks, and opportunities.

Elevating Sri Lanka in Global Markets

In contemporary corporate landscapes, integration of ESG principles has been a hallmark of responsible management practices. They help mitigate risks associated with environmental and social challenges, and also enhance resilience, reputation and competitiveness of an organisation in a rapidly evolving global marketplace. 

HPL’s unwavering commitment to sustainable practices strengthens both its market position and the nation’s reputation on the international stage. By aligning its operations with ESG principles, the company enhances resilience, reputation, and competitiveness in an evolving global marketplace.

HPL’s achievement at the 10th Anniversary CMA Excellence in Integrated Reporting Awards reflects its visionary approach to responsible management, setting a strong foundation for sustainable growth and inspiring confidence among investors and stakeholders alike.