MUMBAI: HDFC Bank released its annual Sustainability report for the year ended March 31, 2018. The report encapsulates the social change the Bank is trying to bring about in the country under #Parivartan, the umbrella name for all the social initiatives of the Bank. In a first, the Sustainability Report is now aligned with the Integrated Reporting (IR) Framework laid down by the International Integrated Reporting Council.
Towards this end, it has identified its value created for its stakeholders under six capitals: Financial, Manufactured, Intellectual, Human, Social & Relationship and Natural. Through this framework both financial and societal value created have been captured. The Report is also aligned to the ‘Comprehensive’ Standards of the GRI (Global Reporting Initiative).
Key Highlights of the report:
- Transformed lives of 3.5 crore Indian under #Parivartan.
- With an expenditure of Rs 374 crore in the last financial year, Bank is one of the largest spenders of CSR in the country.
- Touched more than 80 Lakh (8 million) households in the bottom of the pyramid under Sustainable Livelihood Initiative (SLI)
- Made a difference across 870 villages in 16 states under Holistic Rural Development Programme (HRDP).
- Financial Literacy Programme covered more than 59 Lakh (5.9 million) participants
- In its 12th year, the annual blood donation drive collected more than 2 Lakh units across 3000 camps in the country.
“Let me start by reaffirming our deeply held belief that businesses cannot prosper if the communities in which they operate fail. This is what has been inspiring our social initiatives, through which we have already made a difference in the lives of about 3.5 crore people, predominantly in rural areas. This has helped bridge the India-Bharat divide,” said Aditya Puri, MD, HDFC Bank in the report.
“Women are at the core of our social initiatives. For instance, our board mandated Sustainable Livelihood Initiative (SLI), is driven entirely through Self Help Groups comprising women. This helps people at the bottom of the pyramid break out of the cycle of poverty by equipping them with livelihood skills, finance and market linkage. We firmly believe that by empowering women, we empower family, society and the in the ultimate analysis, nation.” said Ashima Bhat, Head – Business Finance, Strategy, Infrastructure, CSR, HDFC Bank.
Our social initiatives are also aligned with United Nations (UN) Sustainable Development Goals (SDGs). SDGs are global goals by United Nations to get countries and key stakeholders like business around the world to commit and work for the progress and prosperity of the people and protect the planet.
HDFC Bank’s efforts under sustainability and social change are in sync with the SDGs outlined by the UN. The Sustainability Report outlines the work undertaken by the Bank by engaging with the communities to work on reducing poverty, zero hunger, clean water & sanitation, quality education, sustainable cities and communities to name a few, which are also some of the SDGs.