We are steadfast in our commitment to environmental sustainability. With a strategic focus on energy conservation, we strive to align our offerings with broader sustainable objectives. We proactively pursue energy management initiatives and advocate for renewable energy integration. Our dedication to core sustainability endeavours remains unwavering, allowing us to make a powerful impact on the environment while maintaining a focus on our core strengths.
We have spent ₹ 40 Lakhs for energy conservation measures and our consumption of renewable energy has increased in FY23.
We regard climate change mitigation and environmental conservation as essential elements of a sustainable business. This belief embodies our approach to the management of our resource footprint. We have given this endeavour a further inducement by ensuring multi-channel delivery through Net Banking, Phone Banking, and Mobile Banking
As part of our operations enhancement, we constantly aim to reduce the adverse impact on the environment by identifying ways to optimise resource consumption in operations and encourage customers the use electronic media over print communication.
We have implemented:
As a lender to the manufacturing sector, which forms a significant portion of our lending portfolio, we recognise the paramount importance of addressing climate change in all our lending decisions. We are proactively developing a robust strategy to incorporate climate change considerations as a fundamental criterion in our lending processes. Our foremost goal is to champion green economic activities by enhancing our product offerings and according to preference to financing sustainable initiatives. Embracing this proactive approach, we aim to make a significant positive environmental impact while supporting businesses dedicated to adopting eco-friendly practices. Through these efforts, we are committed to fostering a sustainable future for both our clients and the planet.
We have undertaken the following initiatives towards clean energy and reducing carbon footprint:
We put in place a holistic and long-term roadmap in our constant quest to mitigate climate risks and leverage opportunities arising out of a low-carbon transition. Key pillars of the strategy focus on:
To strengthen our response to climate risk, we have developed a robust framework for assessing climate-related risks in our lending operations. We incorporate a climate lens into our business decisions to enhance the portfolio’s resilience to diverse climate scenarios.
We are reducing our carbon footprint by adopting industry best practices and adhering to established sustainability standards, ensuring that our operations align with environmentally responsible practices.
We actively engage with stakeholders, including clients, peer banks, regulators, and governments, to accelerate the low-carbon transition. We promote climate literacy and advocate for policies that foster sustainable finance practices.
We prioritise transparency and accountability by participating in ESG-related frameworks and providing continuous reporting through initiatives like Business Responsibility and Sustainability Reporting. Our approach aligns with the RBI Discussion paper on Climate Risk and Sustainable Finance, adopting forward-looking methodologies for climate assessment and integration.
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