HDFC Bank's ESG Approach - Become Carbon Neutral By FY32: ICICI Securities
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ICICI Securities Report
We hosted HDFC Bank Ltd. at ICICI our virtual environmental, social and governance conference 2021 on June 23, 2021, wherein the management clearly articulated the bank’s ESG approach, vision, objectives and initiatives.
Key ESG objectives include:
1. committed to become carbon neutral by FY32, reduce emission intensity by 10%, energy consumption by 3%, energy intensity by 5% in FY22, reduce water consumption by 30% by FY24, 2.5 million tree plantation by FY25;
2. focus on offering loans for green products like electric vehicles at lower interest rates;
3. incorporate ESG scores while making credit decisions; and
4. enhance the value of corporate social responsibility support and investments across programmes.
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