YES BANK gearing up to launch the first-ever ‘Green Bonds’ in India
IndiaCSR News Network
NEW DELHI: YES BANK, India’s 4th largest private sector bank, along with TERI BCSD today launched two knowledge reports, ‘Ganga: An Inclusive Multi Stakeholder Approach’ and ‘Enabling Finance for Scaling up Energy Efficiency in MSMEs’, detailing the financial sectors perspective and probable approach on both issues at the Delhi Sustainable Development Summit (DSDS) held in New Delhi on February 4, 2015.
The reports, launched by Minister of State for Finance, Jayant Sinha, Dr R. K. Pachauri, Director-General, TERI and Rana Kapoor, MD & CEO YES BANK, aim to assess the situation on ground, the mitigation approaches till date and the way forward that can be holistic and make a difference. They incorporate multi-stakeholder feedback to understand the criticality of the issues to achieve collaborative action towards ensuring positive and productive development
Speaking at the summit, Rana Kapoor, Managing Director & CEO, YES BANK said, “While we create large global banks in India, it is vital to develop Large, Global, Sustainable and Responsible Banks. As public trust institutions, banks, as baskets of the economy, can play a tremendous role in forging a corporate vision for sustainability. Prudent Financial Innovation, skilled people and Responsible stewardship needed to address concerns of climate change.” Highlighting YES BANK’s commitment to sustainability and mitigating climate change issues, Mr Kapoor also said, “YES BANK is gearing up to launch the first ever ‘Green Bonds’ in India later this month.”
Speaking on the occasion, Namita Vikas, Senior President & Country Head – Responsible Banking, YES BANK said “With the government focusing its efforts towards cleaning of Ganga and empowering the smaller establishments, we believe it is important to present a first-person view of the ground realities and the possibilities. The white paper on the Inclusive Multi- Stakeholder Approach for Ganga development highlights the multifaceted aspects and provides insights pertaining to river basin management especially from a financial institution perspective. The knowledge paper on financing energy efficiency in MSMEs demonstrates appropriate financial models and the way forward to create sustainable MSMEs in India.”
The white paper ‘Ganga: An Inclusive Multi Stakeholder Approach’ covers short discussion pieces on a few critical elements of river management such as climate change aspects, risks in ecosystem management, multi disciplinarity and complexities in decision making and Public Private Partnerships (PPPs). The discussion pieces converge to substantiate the need for a cleaner Ganga and the paper proposes appropriate methods of executing this to fruition. The knowledge paper ‘Enabling Finance for Scaling up Energy Efficiency in MSMEs’ draws on the knowledge of experts to bring in a unique framework to discuss financial solutions tailored for different products/services/interventions to achieve energy efficiencies in MSMEs.