New Delhi – Kotak Mahindra Bank (Kotak) replaced single-use plastic water bottles with glass water dispensers and recycled, over 1500 kg of used polyethylene (PET) bottles in FY2018-19, which earned the Bank recognition from Bisleri as the highest contributor to their ‘Bottles for Change’ initiative.
Kotak also distributed over 1.25 lakh cotton cloth bags to inculcate the habit of carrying own bag among citizens pan India.
Plastic waste management has been one of the major focus areas of the Bank.
India’s annual plastic consumption is expected to cross 20 million tonnes in 2020. India consumes an estimated 1.65 crore tonnes of plastic annually, as per a report.
In all, 80 percent of total plastic produced in India is discarded. It mostly ends up choking landfills, drains and rivers and flows into the sea where it is ingested by marine animals. It leaches into soil and water, contaminating the natural environment with poisonous dioxins.
In this regard, India CSR,the largest news network on Corporate Social Responsibility (CSR) and Sustainability in India is organising Plastic Waste Dialogueon August 27, 2019 in New Delhi in association withGonativeandUnited Way India Plog Run, which involves some of the most reputable and competent national and world-renowned speakers from industries, CSR, non-profit organizations, international agencies, academia, and research organisations.
In an effort to encourage sustainable environmental practices, Kotak also implemented various energy saving initiatives in FY 2018-19, saving more than 1,200 MWh of electricity from being consumed.
Further, Kotak’s Code of Conduct puts utmost importance on conducting its operations in an ethical and responsible manner.
Several initiatives have been undertaken to nurture the values of integrity, transparency and accountability Key highlights as well as to enhance skills, engagement and satisfaction amongst employees.
Stakeholders such as employees, customers and community members have also been benefited from the diverse initiatives, implemented by Kotak in FY 2018-19.