HDFC Bank's ESG Approach - Become Carbon Neutral By FY32: ICICI Securities

A HDFC Bank branch exterior.(Source: BloombergQuint).

HDFC Bank's ESG Approach - Become Carbon Neutral By FY32: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Securities HDFC Bank ESG Conference .pdf

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