SBI Cards and Payment Services Limited
Climate Impact & Sustainability Data (2022-04 to 2023-03, 2023-04 to 2024-03)
Reporting Period: 2022-04 to 2023-03
Environmental Metrics
Total Carbon Emissions:54,534.33 tCO2e/year (Scope 2 & 3)
Scope 2 Emissions:2,740.19 tCO2e/year
Scope 3 Emissions:51,794.14 tCO2e/year
Total Energy Consumption:13,893.92 GJ/year
Water Consumption:26,225.47 KL/year
Waste Generated:113.62 MT/year
Carbon Intensity:3.82 Metric tonnes of CO2 equivalent/crore turnover
ESG Focus Areas
- Environmental Stewardship
- Social Responsibility
- Governance and Ethics
Environmental Achievements
- Reduction of Scope 2 emissions by 46.02% from 2018-19 baseline
- 74.14% waste recovered through recycling
- Over 4.8 Lakh Trees saved through paperless communication (FY 2018-23)
Social Achievements
- Launched telemedicine consultation for employees and families
- Financial Literacy Workshop for SBI Card Women Employees
- Paternity Leave increased from 5 to 7 working days
- Rs. 7 Crore+ contribution to aspirational districts under CSR programmes
Governance Achievements
- 100% employees trained on Code of Conduct
- 100% cards chip and pin enabled for data privacy and security
- Adoption of new Vendor Risk Management Policy
Climate Goals & Targets
Long-term Goals:
- Shift towards more recyclable and efficient products
- Educate and upskill individuals in future technologies
- Enhance data privacy standards and ESG assessment of suppliers
Medium-term Goals:
- Green building certification for new office locations
- Strengthen healthcare infrastructure to serve 50,000 individuals
Short-term Goals:
- Not disclosed
Environmental Challenges
- Increased energy consumption due to return to office post-pandemic
- Managing GHG emissions in a leased office environment
Mitigation Strategies
- Implementing energy-efficient technologies and practices
- Promoting carpooling and sustainable commuting
- Regular energy audits and monitoring
Supply Chain Management
Responsible Procurement
- Energy efficiency standards for electronic equipment
- 5% input materials sourced from MSMEs/small producers
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI 2021 Standards, UN SDGs
Certifications: ISO 27001:2013, ISO 31000:2018, COPC for Customer Service
Sustainable Products & Innovation
- Digital products and services to reduce paper consumption
Awards & Recognition
- Readers Digest Most Trusted Brand
- The Economic Times ‘Best BFSI Brands 2022’
- Golden Peacock National Training Award 2023
- Stevie Awards
- Great Place to Work
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
Total Carbon Emissions:40,000.47 tCO2e/year (Scope 3)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:2,580.95 tCO2e/year
Scope 3 Emissions:40,000.47 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:12,449.83 MWh/year
Water Consumption:1,351.64 m3/year
Waste Generated:86.63 tons/year
Carbon Intensity:0.0000000148 & 0.000000192 tonnes of CO2 per rupee of turnover for FY 2023-24 & FY 2022-23 respectively
ESG Focus Areas
- Climate Change
- Waste Reduction & Recycling
- Inclusion & Diversity
- Consumer Financial Protection
- Responsible Digitalisation
- Data Privacy & Security
Environmental Achievements
- Reduced Scope 2 emissions by 47% from 2019 levels
- Increased eco-friendly plastic cards to 8% of portfolio
- Digitised 81% of welcome kits, reducing paper use
- 7% reduction in total energy consumption from FY 2023 to FY 2024
Social Achievements
- Improved workplace diversity, with women comprising 27.74% of the workforce
- Supported disability inclusion
- 16,000+ individuals educated, upskilled in future technologies with CSR initiatives in FY 2024
- 16,000+ individuals benefited through healthcare and disaster management projects in FY 2024
Governance Achievements
- Upgraded PCI DSS accreditation to version 4.0
- Working with suppliers for a sustainable supply chain
- Planning to tie executive pay to ESG performance
Climate Goals & Targets
Long-term Goals:
- Achieve carbon neutrality by 2030
Short-term Goals:
- Reduce Scope 2 emissions by 50% by FY 2027 (Baseline FY 2019)
Environmental Challenges
- Challenges in completely switching to clean energy resources in leased office spaces
- Managing climate-related risks and reducing GHG emissions
- Addressing potential ESG risks that could impact operations, reputation, and financial performance
Mitigation Strategies
- Exploring feasible options for using clean energy in collaboration with building developers
- Investing in energy-efficient technologies
- Fostering a culture of sustainability among employees
- Engaging in external offset programs
- Integrating climate risk considerations into the Enterprise Risk Management (ERM) framework
- Conducting regular materiality assessments to identify and mitigate potential ESG risks
Supply Chain Management
Supplier Audits: Target to establish a comprehensive ESG assessment process for the value chain by FY 2025
Responsible Procurement
- Supplier Code of Conduct outlining expectations regarding ethical behaviour, fair labour practices, anti-discrimination, and prevention of harassment
- Contractual obligations requiring third-party vendors to confirm compliance with applicable laws, regulations, and SBI Card standards
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: International Integrated Reporting Council (IIRC), Global Reporting Initiative (GRI), United Nations Sustainable Development Goals (UN SDGs)
Certifications: PCI DSS 4.0, ISO 27001
Third-party Assurance: SGS India Private Limited
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Eco-friendly credit cards made of recycled plastics
Awards & Recognition
- Golden Peacock Award for Corporate Social Responsibility
- Superbrand for the year 2023
- DSCI Excellence Award for Best Security Practices
- Best CSR Excellence Award in Healthcare