YES BANK Leads India: Top ESG Score in 2023

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by KnowESG
KnowESG_YES BANK Leads India: Top ESG Score in 2023
Image courtesy of YES BANK

YES BANK has achieved another milestone in its dedication to sustainability, securing the highest Environmental, Social, and Governance (ESG) score among Indian banks in the 2023 S&P Global Corporate Sustainability Assessment (CSA).

Scoring 73 out of 100, the bank's remarkable improvement of 5 points from its 2022 score of 68 underscores its consistent efforts to enhance ESG practices year after year.

The S&P Global CSA is renowned for its thorough evaluation of corporate sustainability, analysing up to 1,000 data points across various aspects such as Climate Strategy, Operational Eco-Efficiency, Financial Inclusion, Human Capital Development, Human Rights, Corporate Governance, and Risk Management.

Niranjan Banodkar, Chief Financial Officer and Head of Sustainable Finance at YES BANK said, “Our enhanced score of 73 in the 2023 S&P Global CSA, as of December 1, 2023, underscores our steadfast commitment to sustainability. More than just metrics, it signifies the seamless integration of ESG values into our daily operations.

"ESG is not a mere checklist for us; it's woven into our bank's culture and decision-making ethos. We are determined to champion eco-friendly initiatives, advocate responsible lending, and promote inclusivity in banking, making sustainability a core aspect of our identity.”

YES BANK has consistently led sustainable banking initiatives, being the first Indian bank to report financed emissions of its electricity generation loan exposure and aligning targets with the Science Based Targets initiative. The bank has committed to achieving net-zero emissions from its operations by 2030 and aims for 25% gender diversity in its workforce by FY 2024-25.

To manage the environmental and social impact of its financing activities, YES BANK has implemented an Environment and Social Risk Management System (ESMS). Additionally, the bank has introduced several innovative financial instruments, including India’s first Green Bond in 2015 and India’s first Green Fixed Deposit in 2018.

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To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.

Source: YES BANK

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