The project will focus on reconstructing the pathway to Udamaluwa and will be completed prior to the start of the next pilgrim season in December this year. The pathway consists of approximately 14,000 steps in total that are in need of reconstruction for the safety of its climbers and also to the protection of the flora and fauna of the mountain peak.

"Standard Chartered Bank has set a great example of how the private sector of Sri Lanka can join the Government in protecting our National Heritage Sites. This contribution is not only a great assistance to the Government but also brings merit to the Bank as this funding will be used to develop a pilgrim route that has not seen any development since 1952, " said the Honorable Minister to the Dinesh Gunawardena.

Chief Justice, Sarath Silva also added, "I am extremely happy to see an International Bank like Standard Chartered making this contribution to protecting a cultural site that is as old as antiquity and is of immense religious and cultural value to all Sri Lankans,". The Chief Justice also mentioned that the project’s progress will be closely monitored and aims to be completed by the end of this year.

"Standard Chartered Bank is very proud to be a part of this project as it not only makes a real commitment to environmental sustainability but will also help preserve one of the oldest pilgrimages, that is of huge cultural significance to a diverse cross section of Sri Lankans," said Clive Haswell Chief Executive Officer of Standard Chartered Bank.

Standing 7,360 feet (2,243 meters) above sea level, the peak of Sri Pada is venerated by Buddhists, Hindus, Muslims and Christians alike. Sri Pada and its surroundings could correctly be said to be the heart of Sri Lanka’s forests. Three of the country’s 10 major rivers Kelani, Kalu and Walawe spring from Sri Pada. It is also a major source for the Mahaweli. Declared a sanctuary on October 10, 1940 it is home to a host of fauna and flora, including 24 endemic species of birds (14 listed as endangered in the IUCN, Red Data List) and other threatened animals such as leopards, elephants, some rare amphibians, insects and fish. During the Sri Pada pilgrimage thousands trek the path to this holy mountain on a daily basis.

Standard Chartered’s has always focused strongly on integrating environment and sustainable development criteria into day to day processes. In the last year alone the Bank saved the felling of 387 full grown trees, the use of 40, 014 litres of oil required to turn wood into paper, 724, 584 litres of water, 91, 200 kwh of electricity and 68 cubic metres of landfill by recycling 22, 883 kg of waste paper in Sri Lanka.  Standard Chartered recognizes that many of the markets it operates in are countries that will be most affected by climate change and already deal with major environmental challenges such as air and water pollution, water scarcity and extreme weather events. The Bank has contributed to the environmental effort by activities including managing and reducing its own direct operational impact, making lending decisions that consider environmental impact, developing commercial products and services that facilitate a shift to low pollution, low carbon economies and engaging its employees, customers and wider stakeholders to raise awareness and provide guidance.

The Bank has set targets to reduce its emissions and consumption. Between 2006 and 2008, the Group will reduce CO2 emissions from energy consumption and air travel by 10% per full time employee (FTE), and reduce paper consumption by 20% per FTE. At the end of 2007, one year into its two year commitment period, Standard Chartered had delivered a 21% FTE reduction in CO2 from energy use, 18% FTE reduction in CO2 emissions from air travel, and a 20% FTE reduction in paper consumption.