Canara Bank
Climate Impact & Sustainability Data (2022-2023, 2023-04 to 2024-03)
Reporting Period: 2022-2023
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Installed rooftop Solar Power system in 54 Bank owned properties with a capacity of 2120.5 KWp and proposes to install in another 8 Bank owned sites shortly with additional capacity of 122.5 KWp
- Reduced paper & single use plastic usage
- Proposes to increase usage of LED lighting, BEE rated AC units and phasing our DG sets gradually
Social Achievements
- Financed 346776 Self Help Groups (SHG), sanction amounting to Rs. 20,073 crores as on Mar 2023
- Established 38 RSETIs and 27 RUDSETIs
- Provided scholarship to more than 9800 girl students through Canara Vidya Jyothi Scheme
- Various community oriented initiatives viz. Rural Development & Training institutes, Schools & colleges, Trusts etc. to help the underserved communities
- Various credit schemes to serve the various industries viz. MSMEs, Corporates, Aviation, manufacturing, EOUs, SEZs, ZED scheme for MSMEs, Infrastructure projects including HAM etc.
Governance Achievements
- Formed ESG Committee & Working Group to oversee the implementation of ESG practices
- Incorporated Climate & ESG Risk in rating model as a pre-sanction/enhancement exercise for corporate borrowers beyond a certain threshold
- Appointed Chief Ethics Officer and formed Ethics & Business conduct Cell to implement & oversee ethical practices in the organization
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
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
- Bank of the Year Award 2022 - India
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:35,296.13 tCO2e/year
Scope 2 Emissions:1,95,643.45 tCO2e/year
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:13,61,305.73 GJ/year
Water Consumption:981,739.44 KL/year
Waste Generated:1,108.67 tons/year
Carbon Intensity:1.81 MtCO2e/INR Crore
ESG Focus Areas
- Climate Change
- Diversity & Inclusion
- Governance
- Financial Inclusion
- Digital Innovation
- Community Development
Environmental Achievements
- 18.82% Reduction in Scope 1 & 2 Emissions
- 30.58% Reduction in Electricity Consumption
- 2 Green Buildings (Aiming 99 more) IGBC Certifications
- 3,258 kWp Solar Rooftop Capacity
Social Achievements
- 111% Increase in Green Wheel Loans (borrower base)
- INR 70.10 Cr. CSR Spends
- 31.75% Women in Workforce
- 96.31% Retention Rate
- 2,465 Differently abled Employees
- 26 Average Training Hours per employee
- A dedicated customer centric call centre
Governance Achievements
- 15% Women on Board
- Zero Incidents of Anti-Competitive Behaviour
- Zero Data Breaches
- ISO 27001:2022 Information Security Management Systems Certification
- 12,000+ Employees trained in cyber security
Climate Goals & Targets
Long-term Goals:
- Net Zero Aligned to India’s NDC Commitment of Net Zero by 2070
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Target for 99 premises by FY 2025 (IGBC certification)
Environmental Challenges
- Climate Risk in lending portfolio
- Data Privacy and Cyber Security
Mitigation Strategies
- Exclusive ESG Committee for Climate Risk
- Initiated Carbon footprint measurement in lending portfolio
- Climate Risk Management Framework development under process
- Comprehensive Cyber Security Policy in place
- Data Centres compliant with TIA standards
- ISO 27001 certificated
- More than 12,000 employees have undertaken cyber security training
Supply Chain Management
Supplier Audits: 90 vendors onboarded through GeM portal
Responsible Procurement
- Robust Outsourcing policy; ESG criteria in vendor selection; legal department review of procurement provisions
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes, market shifts
Opportunities
- Development of energy-efficient products; Green lending
Reporting Standards
Frameworks Used: GRI 2021 Standards, UN SDGs, SASB, TCFD
Certifications: ISO 27001:2022
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Goal 7 (Affordable and clean energy)
- Goal 8 (Decent work and economic growth)
- Goal 9 (Industry, innovation, and infrastructure)
- Goal 10 (Reduced inequalities)
- Goal 13 (Climate action)
CSR initiatives and sustainable finance initiatives align with these goals
Sustainable Products & Innovation
- Green Wheels loans
- Green Deposit Policy & Lending Framework
Awards & Recognition
- Bank of the Year Award 2022
- Best Data Quality Index (DQI)
- Data Excellence
- Best Training & Development Practices
- Best Use of Technology in Training
- Diversity, Equity, Inclusion (DEI) Excellence
- Best Fintech & DPI adoption- Runner Up
- Best Financial Inclusion -Runner Up
- Best Digital Engagement- Special mention
- Outstanding Performer Large Public Sector Banks for PMFME Scheme
- Finnoviti Award
- 1st Rank in Best Practices in Vigilance Administration
- Best Cyber Security implementation award
- Inclusive Finance India award
- Emerging Asia Banking Awards – Winner in Best Performance on growth category