Climate Change Data

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Sustainable Products and Services
• Employee Wellbeing
• Stakeholder Engagement
• Human Rights
• Environmental Protection
• Public and Regulatory Policy
• Inclusive Growth
• Customer Value

Environmental Achievements

• Installation of solar panels at rural banking branches
• Extension of corporate banking and credit facilities to renewable energy projects
• Encouraging greater use of electronic payments
• Green Initiative Program enabling shareholders to opt for electronic copies of the Annual Report
• Energy conservation measures at branch offices (double glazed windows, recycled materials)
• Use of low noise, low emission diesel generators and solar powered UPS at ATMs
• Recycling waste through third-party vendors
• More than 10% of total waste generated from operations is recycled.

Social Achievements

• Various employee engagement activities conducted pan India
• iLiveWell wellness initiative including annual health checks, onsite doctor visits, and medical rooms
• Equal Opportunity & Diversity Guidelines
• Whistle Blower Policy
• Policy of Prevention, Prohibition & Redressal of Sexual Harassment
• IDFC FIRST Bank Benefits Card for digital and paperless Flexible Benefits Plan reimbursements
• Sakhi Shakti loans extended to women from low and middle-income households
• Vyapaar Vriddhi caters to the credit needs of micro enterprises
• CSR initiatives focusing on Education, Livelihoods, Women Empowerment, and Health

Governance Achievements

• Effective and robust corporate governance framework based on best practices and legal requirements
• Code of Conduct for ethical standards, professional integrity, and regulatory compliance
• Whistle Blower Policy
• Vigilance Policy to prevent corruption and illegal activities
• Enterprise Risk Management Framework
• Compliance Policy
• Chinese Wall Policy for conflict management
• Policy on Related Party Transactions
• Code of Conduct for Prohibition of Insider Trading
• Fraud Risk Management Policy
• Disciplinary Action Guidelines

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Responsible sourcing initiatives for major suppliers covering labor standards, environment, and ethical business practices

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: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Sakhi Shakti Women’s Group loan, Pratham (BSBDA) Accounts, Sowbhagya Shakti – Regular Saving Deposit Service

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency, Accountability
• Employee Well-being
• Sustainable Products and Services
• Stakeholder Engagement
• Human Rights
• Environmental Sustainability
• Inclusive Growth
• Customer Value

Environmental Achievements

• Increased use of digital banking reducing carbon footprint at branches and ATMs.
• Encouraged greater use of electronic payments reducing resource consumption.
• Planted over 1 lakh trees through TreePublic 2.0 initiative.

Social Achievements

• Implemented COVID-19 Assistance Program for employees and their families.
• Launched COVID CARE scheme providing comprehensive support in case of employee death.
• Various HR policies ensuring employee well-being, including equal opportunity, anti-harassment, and group insurance.

Governance Achievements

• Adopted a robust Corporate Governance Framework based on best practices and regulatory requirements.
• Implemented various policies to ensure compliance, prevent malpractices, and manage risks.
• Established grievance redressal mechanisms for stakeholders.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting employees, customers, and operations.
• Need to further enhance sustainable sourcing practices.

Mitigation Strategies

• Implemented various relief measures and operational measures to support customers, employees, and society.
• Implemented Work from Home Policy & Quarantine Policy.
• Launched COVID-19 Assistance Program.
• Countrywide vaccination drive for staff and dependents.
• Enhanced technology infrastructure for remote working.

Supply Chain Management

Responsible Procurement

• Vendor agreements aligned with labour standards, environment and ethical business practices.

Climate-Related Risks & Opportunities

Reporting Standards

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

Sustainable Products & Innovation

• Sakhi Shakti Women’s Group loans
• Suvidha Shakti Loans for water/sanitation work
• Affordable housing loan in rural areas

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced diesel consumption due to replacement of DG sets with UPS at few branches.
• IGBC & LEED certification for some large offices

Social Achievements

• Launched 'Better You' campaign for employee well-being
• 6,656 employee volunteers contributed 8,495 hours in various CSR programs in FY23
• Supported 19,956 households through CSR initiatives in FY23

Governance Achievements

• Established a Stakeholders Relationship, ESG and Customer Service Committee of the Board for ESG oversight
• Implemented Whistle-blower Policy, Vigilance policy and Code of Conduct to address anti-corruption and bribery

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Various vendor agreements for major suppliers, which are in line with labour standards, environment and ethical business practices

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI, SASB

Certifications: ISO 27001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Social

Environmental Achievements

• Published GHG Emissions Management Policy in April 2024 outlining commitment to managing and reducing Scope 1, 2, and 3 GHG emissions.
• Achieved green building certification for over 0.7 million sq. ft. office area.
• Corporate Head Office in Mumbai fully powered by the green grid.
• Implemented water conservation initiatives saving thousands of liters of water annually.
• Multiple large offices have in-situ Sewage Treatment Plants, effectively rendering them as Zero Liquid Discharge facilities.

Social Achievements

• Actively involved in reaching deep rural geographies, serving customers in 85,000+ villages and 8 million households.
• 55% of rural borrowers are women.
• Delivered 3 million livelihood (cattle) loans and over 350,000 loans under Water, Sanitation and Health (WASH).
• Financed over 1.96 lakh electric two-wheelers and 5,100+ electric three-wheelers in rural areas.

Governance Achievements

• Established a Stakeholders’ Relationship, ESG, and Customer Service Committee (SRECS Committee) of the Board, supported by an ESG management committee and working group.
• Implemented a Board-approved GHG Emissions Management Policy.
• Integrated climate risk considerations within its Environment and Social policy, which is part of the Credit policy.

Climate Goals & Targets

Environmental Challenges

• Managing the inevitable increase in direct and indirect emissions as the Bank grows.
• Addressing climate-related risks through its lending and other financial intermediary activities.
• Managing physical risks from climate and weather-related events impacting borrowers' operations or collateral value.
• Managing transition risks from the shift towards a lower-carbon economy.

Mitigation Strategies

• Adopting greener infrastructure, evaluating green power tariffs, and increasing the share of green lending.
• Moving to UPS from DGs where feasible.
• Transitioning to renewable energies based on feasibility and availability.
• Creating awareness among employees to reduce resource consumption.
• Building a greener portfolio with offerings like EV financing and renewable energy financing.
• Conducting thorough environmental and social risk assessments of companies during credit appraisal and monitoring environmental performance throughout loan periods.
• Defining an overall ceiling on exposures to high-carbon-intensive sectors, reviewed quarterly and annually.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting borrowers' operations or collateral value.

Transition Risks

• Changes in market dynamics due to environmental policy changes and shifts in customer preferences.

Opportunities

• Growth in green finance, such as EV financing and renewable energy financing.

Reporting Standards

Frameworks Used: TCFD, International Integrated Reporting Framework, SASB Framework, GRI Standards 2021, BRSR, UNGC

Certifications: IGBC, LEED

Sustainable Products & Innovation

• Green Deposit financing framework
• EV financing