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Aug 272 min read

ICICI Bank Strengthens Sustainability Efforts with Key Advancements in Green Energy and Community Programs


ICICI Bank Strengthens Sustainability Efforts with Key Advancements in Green Energy and Community Programs

 

Mumbai: ICICI Bank’s recent report showcases notable developments in its sustainability efforts. The Bank has made substantial progress in scaling renewable energy, enhancing solar power installations in rural schools, and advancing water conservation projects, reinforcing its commitment to responsible growth and social impact across India.

 

Sandeep Batra, Executive Director ICICI Bank, said, “It gives me immense pleasure to present the fifth annual Environmental, Social, and Governance report of ICICI Bank and share our ongoing commitments and achievements in the journey towards building a sustainable organization. The key tenets of ‘Fair to Customer, Fair to Bank’ and ‘One Bank, One Team,’ with the right balance of risk and compliance principles, are helping deliver on our strategy of responsible growth”

 

On the environmental front, ICICI Bank has quadrupled its renewable energy usage to 7.57 crore kWh in FY 2024 and expanded solar energy projects in rural schools, achieving an installed capacity of 9,970 kW across 3,180 schools since FY 2022. ICICI Bank also partnered with state forest departments for conservation efforts across 53 forests and wildlife sanctuaries in 19 states and restored 4,115 hectares of grassland in 13 forests. The Bank aims to become carbon neutral in Scope 1 and Scope 2 emissions by FY 2032.

 

“Our water and waste management initiatives are focused on embracing circularity and reducing the impact on the environment. The steady progress towards integrating sustainable practices in the Bank’s operations gives us the confidence to set ourselves the goal of becoming carbon neutral in Scope 1 and Scope 2 emissions by fiscal 2032.” Sandeep Batra added.

 

In agriculture and water conservation, ICICI Bank established over 505 crop processing units in 21 states since 2021, with 104 units set up in FY 2024. The Bank’s water conservation initiatives have created a harvesting capacity of 2,580 crore liters, benefiting 6,800 schools and restoring 1,180 water bodies. Additionally, ICICI Bank has constructed 99 pedestrian bridges in the Himalayan region since FY 2022, improving access to essential services in remote areas.

 

Healthcare remained a priority for ICICI Bank. Through ICICI Foundation, the Bank supported initiatives in cancer care, cardiac care, and emergency services. In FY 2024, over 2.1 lakh people received treatment across 500 hospitals. The Bank is also advancing its commitment to building healthcare facilities, including three new institutions in partnership with Tata Memorial Centre.

 

ICICI Bank’s governance framework ensures these initiatives align with high ethical standards. As of March 31, 2024, the Bank’s sustainable financing portfolio reached ₹68,528 crore, with a strong focus on green financing. Through these initiatives and increased CSR spending, ICICI Bank continues to drive positive change and long-term growth.


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