India CSR News Network
NEW DELHI: YES BANK, India’s fifth largest private sector Bank, received the Commendation Certificate for Significant Achievement in Environment Management at the CII ITC Sustainability Awards 2016 for innovative approaches, including policy and practice, to reduce the Bank’s environmental impact. The coveted award was presented by Minister of Human Resource Development, Prakash Javadekar.
The Annual CII-ITC Sustainability Awards deploy a transparent and rigorous assessment process based on the Sustainability Excellence Assessment Model. The Model lays significant emphasis on its internationally acclaimed ‘European Foundation for Quality Management’ methodology and covers around 250 questions covering governance, ecology, and social dimensions of doing business.
Namita Vikas, Group President & Managing Director, Climate Strategy & Responsible Banking, YES BANK, said, “YES BANK has integrated sustainability into its business strategy with an aim to create shared value through the ethos of Responsible Banking. Through innovative models and various industry first initiatives like issuance of first Green Bonds in India for promoting clean energy projects or becoming the first commercial bank in India to achieve ISO 14001:2004 certification, YES BANK has been delivering on successful economic and environmental objectives- both externally and internally. The Bank’s unmatched commitment to sustainable profitability is its guiding force in the quest to achieving a vision of ‘building the Finest Quality Bank of the World in India by 2020’.”
YES BANKs Environmental Management Policy guides the Bank’s commitment to improving its own environmental and social performance, and establishing processes and systems to mitigate emissions and consumption. Climate change is a key material issue identified by the Bank and it has doubled its commitment, from 5% in FY2015-16, to 10% in FY 2016-17 to reduce its resource consumption on an annual basis in line with its Environmental Management Policy. In FY 2015-16 YES BANK significantly reduced its specific emissions per employee by 19.52%, meeting its emissions intensity reduction target.
YES BANK became the first commercial bank in India to achieve the ISO 14001:2004 certification in 2013. Strengthening its internal environmental management systems, last year YES BANK completed the third phase of ISO14001 certification covering 184 locations.