NEW DELHI: YES BANK, India’s fourth largest private sector bank, organized its First Carbon Neutral annual Natural Capital Awards event in partnership with Ministry of Environment, Forest & Climate Change (MoEFCC), Ministry for Development of North Eastern Region (DoNER) and National Mission for Clean Ganga (NMCG), in New Delhi.
The 4th Edition of the Awards witnessed YES BANK’s integration into the Natural Capital Coalition, wherein as the 1st Indian bank to join the Coalition, YES BANK will integrate natural capital-led perspectives into the Bank’s strategy and operations in order to make sustainable decisions.YES BANK knowledge report titled ‘Innovating Pathways to Sustainable Finance in India’ was also released at the event.
The report captures the evolution of the sustainable finance landscape in India and focuses on the need for institutionalizing a green finance architecture in India through global success stories on innovative green products and practices.
As a run up to Natural Capital Awards, YES BANK together with UN organized a roundtable on Mobilizing Sustainable Finance in India, at the UN Headquarters in New Delhi. Chaired by Head of UN India, Yuri Afanasiev, the roundtable was attended by DFIs, Investors, Government and stock exchanges, amongst several other industry leaders.
L-R – Mr Pierre Jacquet, President, Global Development Network; Mr James Newcomb, Managing Director, Rocky Mountain Institute; Mr John Lelliott OBE, Chairman, Board of Directors, Natural Capital Coalition with YES BANK senior leaders
Speaking about the event, Shri Suresh Prabhu, Hon’ble Minister for Commerce & Industry and Civil Aviation said, “I am happy that these awards are being given to the Natural Capital protectors, conservationists and others working on this issue at the YES BANK Natural Capital Awards. The only limited factor in the world is Natural Capital, therefore it is important that we work together to conserve it by using it wisely and ensure that we work in a manner that will keep it growing.”
Commenting on the initiative, Namita Vikas, Group President & Global Head, Climate Strategy & Responsible Banking, YES Bank Ltd said “Natural capital is the bedrock of global economic growth and prosperity. Sustaining such growth in the future is heavily contingent on the long-term health and preservation of the earth’s invaluable natural resources. Mainstreaming natural capital thinking and spearheading multi-stakeholder action towards environmental sustainability are critical challenges of our times. Through the Natural Capital Awards, YES BANK aims to promote natural capital conservation and environmental leadership by highlighting the outstanding efforts of individuals, academia, industry and the Government in building a more sustainable world for the future.”
The fourth edition of the Awards received almost 40,000 entries, including over 750 corporate applications. This year, the Natural Capital Awards honoured India’s leading natural capitalists across 17 categories for their innovative and outstanding efforts in conserving India’s natural wealth.
In the Corporate category, Godrej Industries Limited and Associate Companies was adjudged ‘Eco-Corporate of the Year’ in the Manufacturing Category for their Waste to Wealth project, while Adani Ports and SEZ Limited won the ‘Eco-Corporate of the Year’ award in the Services Category for their Zero Waste Initiative at the Mundra Port. Amongst Small Scale Organisations, Nano Bubbles Bangalore (OPC) and Shree Vivekanand Research and Training Institute took home awards in the ‘For-Profit’ and ‘Not-for-Profit’ categories, respectively. IIT Gandhinagar was awarded as the ‘Eco-Campus of the Year’, for their green campus which is the first to receive a 5-star GRIHA LD rating in India for various eco-friendly measures.
The event was attended by industry stalwarts including H.E. Mr. Marten van den Berg (Ambassador of Netherlands to India); H.E. Mr José Ramón Barañano Fernández(Ambassador of Spain to India); H.E. Mr Andreas Baum (Ambassador of Switzerland to India); Shri Rajiv Ranjan Mishra (Director General, National Mission for Clean Ganga); Mr John Lelliott OBE (Chairman, Board of Directors, Natural Capital Coalition); Kamal Singh (Executive Director, UN Global Compact Network India); Mr James Newcomb (Managing Director , Rocky Mountain Institute). Also, present were key representatives from the Government of Assam, Arunachal Pradesh, and Sikkim.