IndusInd Bank makes it to the Carbon Disclosure Project (CDP) list for the 6th consecutive year

The only Indian bank to get featured in the list

Announces its sustainability commitments to commemorating World Environment Day on June 5 

MUMBAI: IndusInd Bank announced that it has made it to the Carbon Disclosure Project (CDP) list for the sixth consecutive time, making it the only Indian Bank to get featured in this prestigious list. The CDP list is a global environmental disclosure system that ranks companies worldwide basis contributions made towards encouraging environmental transparency and performance.    

In a bid to commemorate this milestone, as well as the World Environment Day, IndusInd Bank’s Managing Director and CEO, Mr. Sumant Kathpalia announced the following Environmental, Social and Governance (ESG) initiatives that the Bank has undertaken: 

• Commitment to reducing the Bank’s specificCarbon Emission by 50% over the next 4 years  
• Increasing the allocation of capital towards Climate Finance to 3.5% of its loan book over the next two years, which is currently at 2.7%.  
• Transforming all its Pioneer branches /lobbies into Green & Plastic free zones and getting them LEED certified.   
• Supporting a tree plantation drive wherein 50,000 treeswill be planted in cities where the pollution index is high.  
• Launched an employee awareness drive to spread the word on benefits pertaining to water conservation, waste reduction and re-cycling of waste.
• Installed solar solutions of 675KW capacity which has reduced carbon emission worth 8278 tons. 
• Created water harvesting capacity of about 70 million cubic meters and also restored 15 lakes and 2 drainages systems.

Speaking on the occasion, Mrs. Roopa Satish, Head – Corporate & Investment Banking, CSR & Sustainable Banking, IndusInd Bank said, “The Bank is determined to take a leadership position in mitigating the impact of climate change through committing long term targets and deploying a strategy to invest in clean energy and energy efficient projects. We recognize that embedding sustainability aspects into our business and aligning our products, services and operations with our ESG strategy contributes not only towards betterment of the society at large, but also helps the Bank to emerge as a strong long- term focused organisation. This approach is also getting the Bank more international recognition, as apart from consistently being featured as the leading Indian Bank on the CDP list, we are also theonly Indian Bank, and one among 21 Indian Companies to be featured in the Dow Jones Sustainability Index Yearbook 2021.”

Domestic Ratings:

• CRISIL AA + for Infrastructure Bonds program
• CRISIL AA for Additional Tier I Bonds program
• CRISIL A1+ for a certificate of deposit program / short term FD program
• IND AA+ for Senior bonds program by India Ratings and Research
• IND AA for Additional Tier I Bonds program by India Ratings and Research
• IND A1+ for Short Term Debt Instruments by India Ratings and Research

source https://nrinews24x7.com/indusind-bank-makes-it-to-the-carbon-disclosure-project-cdp-list-for-the-6th-consecutive-year/

June 05, 2021