Climate Change Data

Environmental Metrics

ESG Focus Areas

• Employee Development
• Health and Safety
• Environmental Sustainability
• Community Development
• Corporate Social Responsibility

Environmental Achievements

• Implemented e-initiatives to reduce paper usage (e-statements, e-contracts, etc.)
• Partnered with Grow-Trees.com to plant trees for e-credit card statements

Social Achievements

• Low employee attrition rates (1% senior management, <6% middle management)
• Significant investment in employee talent development and training
• Supported various NGOs through financial contributions and employee volunteering (Kotak Education Foundation, Habitat for Humanity, etc.)
• Conducted health education sessions, diagnostic camps, and first aid training
• Organized blood donation campaigns and help drives
• Participated in running marathons for charitable causes

Governance Achievements

• Implemented a Code of Conduct covering bribery, fraud, insider trading, and human rights
• Adherence to all Indian labor laws and global best practices regarding human rights
• Established a grievance mechanism to address employee concerns

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Most Active Corporate at Standard Chartered Mumbai Marathon (2012)

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Products and services designed with environmental and social opportunities
• Employee well-being
• Stakeholder engagement
• Human Rights
• Environment
• Public policy advocacy
• Inclusive growth
• Customer value

Environmental Achievements

• Implemented e-initiatives resulting in resource conservation (paper) and cost savings. Planted 30,521 saplings.
• Optimized Data Centre facility, resulting in reduced energy intensity.
• Incorporated green building features in corporate offices (Kotak Infiniti and 27BKC), including energy-efficient lighting and water recycling.

Social Achievements

• Launched Kotak Samridhi, a financial inclusion program for milk producing farmers.
• Successfully implemented three-year Financial Inclusion Plan (FIP), adding over 42,000 Basic Savings Bank Deposit Accounts.
• Launched Kotak Unnati, a livelihood program that provided employable skills to 936 aspirants, 74% from BPL families.
• Launched Strisangini, an in-house women's cell to support female employees.
• Implemented Kotak Udaan scholarship program and Kotak In Search of Excellence (KISE) scholarship program.
• Conducted various CSR initiatives, including blood donation camps, support for underprivileged child cancer patients, and community engagement initiatives.

Governance Achievements

• Established a Business Responsibility Committee (BRC) to oversee the Bank’s BR agenda.
• Implemented a whistleblower mechanism accessible to employees and customers.
• Revised Prevention of Sexual Harassment Policy in accordance with statutory requirements.
• Achieved ISO 10002:2004 certification for Complaints Management System.

Climate Goals & Targets

Environmental Challenges

• Limited penetration of formal banking system in rural areas of India.
• Need to further enhance energy efficiency and reduce environmental footprint.

Mitigation Strategies

• Actively participated in the national Financial Inclusion agenda, expanding network and providing customized products and services.
• Implemented various e-initiatives to conserve resources and reduce environmental impact.
• Optimized Data Centre facility and incorporated green building features in corporate offices.

Supply Chain Management

Responsible Procurement

• Contract clauses with contractors to ensure statutory requirements for contract labour wages and welfare are adhered to.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVG-SEE)

Certifications: ISO 10002:2004

Sustainable Products & Innovation

• Jifi, a fully integrated social bank account.

Awards & Recognition

• Highest Fund raising Company in Corporate Challenge category at Standard Chartered Mumbai Marathon 2014.

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Products and Services Designed with Environmental and Social Opportunities
• Employee Well-being
• Stakeholder Engagement
• Human Rights
• Environment
• Public Policy Advocacy
• Inclusive Growth
• Customer Value

Environmental Achievements

• Saved 1.5 million A4 size papers (resulting in 7 tonnes of paper saved, 30 tonnes of wood saved, 7 lakh litres of water saved, 76 MWh of energy saved, 20 tonnes of GHG emissions avoided, and 7 tonnes of solid waste avoided).
• Implemented Cold Aisle containment for Data Centre, improving cooling efficiency and saving power.
• Implemented virtualization, reducing energy consumption by 1/7th compared to typical CPU.
• Planted 21,204 trees through the ‘Think-green’ initiative.

Social Achievements

• Opened more than one lakh savings accounts under PMJDY.
• Opened 4.47 lakh bank accounts using in-house resources and Business Correspondents (BC).
• Disbursed over ₹20 crore under the MGNREG project in Chhattisgarh.
• Disbursed micro loans to women in Uttar Pradesh.
• Reached out to over seven lakh women in eastern and north-eastern India for financial inclusion.
• Launched “Astra” initiative for women workforce.
• Implemented “Strisangini” programme for women employees.
• Revised Prevention of Sexual Harassment (POSH) Policy.
• Undertook an organisation-wide employee engagement study with 90%+ participation.
• Conducted mock fire evacuation drills, workshops on personal safety, and self-defense classes.

Governance Achievements

• Established a Business Responsibility Committee (BRC) and a CSR Board Committee.
• Implemented a whistleblower policy for employees and customers.
• Maintained a robust policy framework guided by a code of ethics and values.

Climate Goals & Targets

Environmental Challenges

• Overall customer satisfaction dipped by 2%.

Mitigation Strategies

• Identifying specific areas for improvement in customer satisfaction and working on enhancing them.
• Initiating measures to drive customer-centric behavior through appreciations, defining expected behaviors, and mystery shopping.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Manpower services for offices and branches are generally hired from local agencies, Bank website, job-portals, internal movements, walk-ins, or through references.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic responsibilities of Business (NVG-SEE), SEBI Clause 55 of the Listing Agreement, Section 135, Schedule VII of the Companies Act, 2013

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Jifi Saver
• KayPay
• Instant Pin Generation for Debit and Credit Cards
• Insta Balance Service
• Mail Money
• Message Money

Awards & Recognition

• Certificate of appreciation from the government for exemplary work in Ahmedabad, Sarangpur and Maninagar branches.
• Jasneet Bachal receives ‘Best Social Media Project’ by Asian Banker for Jifi and KayPay
• Puneet Kapoor, Manish A and GPJ Gupta receive ‘Best Use of Digital and Channel Technology Award’ for Instant Pin Regeneration at IBA Technology Awards 2014-15
• Deepak Sharma and Manish A receive ‘Best New Product and Service’ for Kotak Jifi at Efma Accenture Innovation Awards 2014

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Responsible Products and Services
• Employee Wellbeing
• Stakeholder Engagement
• Human Rights
• Environment
• Public Policy Advocacy
• Inclusive Growth
• Customer Value

Environmental Achievements

• Energy savings of 923 MWh achieved through energy conservation initiatives.
• Recycled 57,835 KL of water.
• Saved 96.84 lakh sheets and envelopes (resulting in a cost saving of ₹1.12 crore).
• Recycled 4.78 crore A4-size sheets.
• Avoided 766 tCO2e in GHG emissions.

Social Achievements

• Improvement in employee net promoter score (eNPS) compared to the previous year.
• Launched Kotak Young Leaders Council.
• Revamped succession planning and internal job-posting frameworks.
• Increased female employee ratio from 23% to 24%.
• Provided over 25,000 hours of employee training.
• Financial inclusion initiatives resulted in over 44 lakh 811 accounts opened and over three lakh credit cards issued.

Governance Achievements

• Robust monitoring mechanism instituted to ensure compliance with Code of Conduct.
• 91% of stakeholder complaints resolved.
• Turnaround time adherence of 93% in complaint resolution.

Climate Goals & Targets

Environmental Challenges

• NGOs' inability to utilize large CSR expenditure allocated under the Bank’s numerous CSR Programmes leading to underspend.

Mitigation Strategies

• NGOs have assured that they will utilize unutilized CSR funds towards the Bank’s Programmes in FY 2020-21.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Preferably procuring goods through local suppliers; hiring manpower services from local agencies.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business

Certifications: LEED certification for Nyati office in Pune and Neptune office in Thane

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• 811 digital savings account, FD-backed credit card, My NPS

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Responsible Products and Services
• Employee Well-Being
• Stakeholder Engagement
• Human Rights
• Environment
• Public Policy Advocacy
• Inclusive Growth
• Customer Value

Environmental Achievements

• 73 lakh A4-size sheets saved, preserving 2876 trees due to paper-saving initiatives
• 31,188 tCO2e total GHG emissions avoided (for large offices)
• 41,431 MWh of energy saved (for large offices)
• ~47,561 Kiloliter of water saved (for large offices)
• 24,640 Kilolitre of water recycled

Social Achievements

• Certified as a ‘Great Place to Work ®’ by the GPTW Institute
• 73% of employees believe KMBL is a great place to work
• Micro-loans (ranging ` 50,000) were extended to 7.5 lakh women
• Initiatives to support the urban poor and migrants, supporting over 1,000 street vendors through loans
• CSR expenditure of ₹142.99 crore (exceeding the mandated 2% of average net profit)

Governance Achievements

• Robust governance framework ensuring transparent, responsible, and accountable operations
• Whistle Blower Policy managed by an independent party
• CSR Committee oversight of CSR policies, strategy, and implementation

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on employees and society
• Lockdowns impacting business operations and economic activities
• Digital divide affecting disadvantaged children's education

Mitigation Strategies

• Implementation of health and safety measures (limited staff presence, COVID-19 protocols, safety kits, lockdown travel allowances)
• Expansion of digital infrastructure to facilitate work from home
• Initiatives to prioritize employees’ work-life balance
• Revised CSR focus areas to include COVID-19 relief efforts
• Direct interventions and support from employees and stakeholders
• Adaptation of ongoing CSR programs to pandemic circumstances

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Compliance with human rights-related terms and conditions in supplier contracts

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, SEBI’s clause (f) of sub-regulation (2) of regulation 34, Section 134, section 135 read with schedule VII of the Companies Act, Companies (Corporate Social Responsibility) Rules, 2014

Certifications: LEED certified offices

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Bank’s CSR Policy reflects commitment to UN Sustainable Development Goals (SDGs)

Sustainable Products & Innovation

• Kotak Remit (outward forex remittance solution)
• Kay Mall (in-app commerce marketplace)

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Corporate Governance
• Enhancing customer experience
• Creating an Empowered Workforce
• ESG integration in risk management
• Managing Climate Risk and Caring for the Environment
• Community Development

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Data Security and Resilient IT Systems
• Regulatory Compliance
• Data Privacy
• Business Ethics
• Corporate Governance
• Brand Recognition
• Customer Centricity
• Employee Development and Engagement
• Formulation of an ESG Roadmap
• Diversity, Equity, and Inclusion
• Employee Health and Well Being
• Promoting Green Finance
• ESG and Climate Risk Management in Lending and Investments
• Financing Inclusion and Social Development
• Operational Eco-efficiency and Resilience to Climate Change
• Policy Advocacy
• Community Well-being
• Supply Chain Sustainability

Environmental Achievements

• 7%+ share of renewable power used by the Bank
• 2.6x renewable power used compared to previous year
• Green asset book of more than ₹6,000 crore
• 12 LEED/IGBC certified offices
• 6 Organic waste converters (OWCs) with total 250+ kg/day capacity

Social Achievements

• 22% YoY growth in customer base
• 81% Customer grievances resolved within stipulated turnaround time
• 13 point Increase in R-NPS score for consumer banking segment
• 14% y-o-y reduction in employee turnover at the Bank
• ₹46 crore invested in training, leading to 41 training hours per employee
• 8.2 lakh+ beneficiaries for the Group's CSR initiatives

Governance Achievements

• 64% Independence of the board
• 27% Board gender diversity
• Cybersecurity operations are ISO 27001:2013 certified
• No non-compliance noted to applicable environmental laws and regulations

Climate Goals & Targets

Environmental Challenges

• Changing customer expectations
• Dramatic pace of business growth
• Emerging risk landscape
• Cybersecurity threats
• Data privacy concerns
• Operational vulnerabilities
• Climate change risks
• Evolving regulation
• Geopolitical volatility
• Disruptive technological advances

Mitigation Strategies

• Upgrading technology capabilities
• Investing in cloud computing, data warehousing and real-time data processing
• Strengthening data governance frameworks
• Investing in robust IT systems and advanced security technologies
• Regular cybersecurity training programmes for employees
• Comprehensive Incident Response Plan
• Multi-factor authentication (MFA) and other security measures
• Continuous learning and development programmes focused on emerging technologies
• Structured Onboarding
• Career development opportunities
• Competitive compensation

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Code of Conduct for service providers

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Flooding
• Sea Level Rise
• Cyclones

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Financing needs for technologies and infrastructure enabling the transition to a low-carbon economy

Reporting Standards

Frameworks Used: International Integrated Reporting Council framework, National Guidelines on Responsible Business Conduct, SEBI’s Business Responsibility and Sustainability Reporting (BRSR), Global Reporting Initiative Standards 2021, Sustainable Development Goals (SDGs)

Certifications: ISO 27001:2013 (Cybersecurity), ISO 45001:2018 (OHSMS)

Third-party Assurance: Price Waterhouse Chartered Accountants LLP

UN Sustainable Development Goals

• Not disclosed

All CSR initiatives are aligned with UN SDGs.

Sustainable Products & Innovation

• Green Deposits
• Green Bonds
• Sustainability-Linked Loans
• Electric vehicle financing

Awards & Recognition

• ICAI Gold category in Sustainability reporting in Services Sector
• Gold Category in The Asset ESG Corporate Awards