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How is the ICICI Bank Propelling its SDG Journey?

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The ICICI Bank’s Environmental, Social, and Governance (ESG) framework is aligned with the United Nations Sustainable Development Goals (UN SDGs). The bank reiterated that besides SDGs, most of its objects meet India’s commitments under the Paris Agreement, in its ESG report 2023-24. The , the report is titled “Being Responsible, Being Sustainable: ICICI Bank ESG Report 2023-24.”

Here are some ways ICICI Bank is aligning its ESG goals with the UN SDGs:
  • Carbon neutrality: ICICI Bank aims to achieve carbon neutrality for scope 1 and 2 emissions by 2032. The bank has increased its use of green energy and is focused on minimizing greenhouse gas emissions.
  • Water conservation: The bank has installed water recycling facilities at its offices in Mumbai and Hyderabad, and uses recycled water for landscaping and cooling towers. It also installs water-efficient plumbing fixtures in new and existing offices and branches. Additionally, its water conservation initiatives have generated an annual rainwater harvesting capacity exceeding 25.8 billion litres across the country.
  • Sustainable procurement: The bank is focused on sustainable procurement and has implemented OHSAS 18001 at 13 of its premises.
  • In its report, the bank said it has allocated Rs 5.19 billion for corporate social responsibility (CSR) activities in financial year 2024, up from Rs 4.63 billion the previous year. The projects focus on livelihood and social interventions, and have benefited over 10.7 million people as of the end of 2024.
  • Gender equality: The bank has supported over 10 million women entrepreneurs through self-help groups and prioritizes women in its skill and value chain development programs.
  • Through its philanthropic arm, the ICICI Foundation for Inclusive Growth, the bank planted more than 1.1 million trees in the financial year 2024.
  • Healthcare: The bank expanded its healthcare initiatives to include cancer care in 35 hospitals across India and committed Rs 12 billion for the development of new institutions for the Tata Memorial Centre.
  • Renewable energy: In financial year 2024, the bank increased the proportion of renewable energy within the total energy consumption from the grid and on-site solar generation to 35 per cent from 9 per cent in financial year 2023. With this, the Bank’s total green energy usage increased to 75.73 million kilowatt-hours (kWh).”
C-Suite thurst:

Girish Chandra Chaturvedi, Chairman, ICICI Bank, said, “We have set the goal of becoming carbon neutral in scope 1 and scope 2 emissions by financial year 2032. Our endeavor to measure and monitor water consumption at our own premises has led to per capita per day consumption being lower than the national average indicated by National Building Code. The bank is adopting responsible practices for embracing circularity related to waste management, disposal and encouraging recycling through authorized vendors.”

 


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Women-Owned MSMEs Surge to 1.84 Crore in India

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Women-owned MSMEs have seen a spurge in India.

The country now has over 1.84 crore women-owned MSMEs, marking a significant development for the nation’s economic landscape.

The announcement underscores the growing role of women entrepreneurs in India’s business ecosystem.

Policy push:

Since launch of the Udyam and Udyam Assist Platforms (UAP) in July 2020 and January 2023, women owners have accounted for 39% of MSMEs registered. As of July 23, 2024, there are 1,84,59,809 MSMEs owned by women, Jitan Ram Manjhi, Union Minister, Micro, Small, and Medium Enterprises, said during question hour in the on-going Monsoon session in the Parliament.

Among the programs to boost the involvement of women in the MSME industry, the government amended the Public Procurement Policy in 2018. It now mandates central ministries, departments, and undertakings to obtain at least 3 percent of their annual requirements from women entrepreneurs.

The GoI has also implemented policies to improve women-owned MSMEs’ access to credit. One of the policies to improve financing options for women-owned MSMEs, offers up to 85% guarantee coverage and a 10% reduction on annual guarantee fees.

The government aims to create an inclusive business environment and empower women entrepreneurs, with the rise of women-owned MSMEs expected to significantly impact India’s economy.

Our take:

India’s economic self-sufficiency and diversity are being bolstered by MSMEs, which are driving job creation, innovation, and economic expansion, promoting gender equality and women empowerment.

The future of the MSME sector will be marked by the impact of government initiatives on female entrepreneurs and the economy as a whole.


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Gender Diversity Push in the Aviation Sector

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By 2025, the percentage of women representing the Indian aviation sector will increase to 25 percent.

Currently, women hold 5-14 percent of various roles, with the highest representation among pilots at 14%.

The Director General of Civil Aviation (DGCA) has recommended several measures to monitor and improve gender diversity.

It has issued a circular urging airlines and airports to increase women representation in the sector to 25% by 2025.

The circular suggests steps for the aviation community to ensure equal representation in the hiring process.

It signifies the importance of celebrating female role models, and promoting gender equality. It recommends inclusive workplace culture, leadership programs, tackling stereotypes, and promoting work-life balance to support female employees and create future female leaders.

The DGCA advisory recommends a zero-tolerance policy against sexual harassment, diversity objectives, and HR policies.

It also advises airlines to implement maternity leave laws, develop policies for hiring back women, conduct training programs, analyze exit interviews, and organize awareness-raising sessions to reduce gender bias.

It must be noted that the International Air Transport Association (IATA) has called for greater representation of women in the aviation industry, aligning with the International Civil Aviation Organisation’s (ICAO) vision of gender equality.


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NTPC’s GEM for Women Empowerment

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In a bid to promote gender equality, NTPC has iterated the Girl Empowerment Mission (GEM)-the Maharatna’s CSR program.

The one-month program provides a platform for the all-around development and uplift of young girls through a one-month workshop held during the summer holidays.

It strives to address gender inequality and is in line with the Government of India’s Beti Bachao, Beti Padhao initiative.

Beginning in April 2024, approximately 3,000 deserving kids from disadvantaged social groups will be added to the new GEM at 42 designated PSU locations in the power sector. This will bring the total number of kids receiving Mission benefits to over 10,000.

With just three locations and 392 participants when it was first launched as a pilot project in 2018, the GEM Mission has grown into a national movement. The COVID-19 pandemic presented obstacles in 2020 and 2021, but the program persevered in growing in scope and influence.

As of now, 7,424 girls have benefited from it overall, and the number of participants has been rising yearly. 2,707 girls from 16 states and 40 NTPC locations took part in the workshop in 2023 alone.

To prepare girls for the future, the Mission seeks to identify and develop the leadership potential within them through a variety of interventions. The workshop’s main topics are yoga, sports, fitness, safety, and health.


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What does India’s rise of 14 places in UNDP’s Gender Inequality Index (GII) indicate?

Sonal Desai


India is making slow but steady progress in the gender equality index. As per the new report published by the UNDP Gender Inequality Index (GII), India moved 14 places forward this year. Let us look at the initiatives that probably helped the country improve its position among its global peers.

Women-centric initiatives can be broadly classified into three categories: education, safety, and financial security. The government has launched and implemented various policies like Beti Bachao Beti Padhao (BBBP). According to government data, crores of women have benefited from these schemes.

The following schemes in India have also benefited women immensely:

  • Stand Up India provides loans and support to women entrepreneurs
  • Skill India Mission focuses on equipping women with industry-relevant skills
  • One-Stop Centre (OSC) scheme offers integrated support to women affected by violence, including medical aid, legal assistance, and counseling.
  • Women Helpline (181) provides 24/7 immediate assistance to women in distress.
  • Mahila Police Volunteers (MPVs) raise awareness about women’s safety and work with police to ensure their security in public spaces.
  • Sukanya Samriddhi Yojana scheme encourages parents to save for their daughters’ futures.
  • Pradhan Mantri Mudra Yojana (PMMY) provides women microentrepreneurs with easy access to loans.
  • Mahila Shakti Kendra (MSK) acts as one-stop shop for women, providing them with information and support on various government schemes and initiatives.

These schemes gave wings to women, especially girls, who can dare to dream of access to education and a better future. Undoubtedly, crores of women have benefited from these schemes, as per government data.

The government’s upskilling and loan accessibility initiatives are beginning to yield positive results. The number of female entrepreneurs in India is increasing. Remarkably, these female business owners favor hiring female staff members. She may have made the choice on purpose because she identifies with another woman’s issue.

 How have these initiatives transformed the lives of the girls/women?

But gender inequality is also a hard truth. The gender bias not only exists in rural areas, but it is also present in Tier-1 and Tier-2 cities, perhaps even more so in these affluent regions. Easy access to education, greater employment options, and occasionally pay parity or increase do not absolve women of domestic duties. Rich and independent women in the upper classes of society are also compelled to toe the line and endure abuse, as revealed by the shocking confession of a well-to-do woman director who claims to have been the victim of abuse and domestic violence.

Regretfully, women’s circumstances are not all that different elsewhere. In addition to silently suffering from violent in-laws and inebriated spouses, they also horrifyingly endure abuse at the hands of their fathers, uncles, or brothers. We are exposed to heart-wrenching accounts of women suffering abuse simply because they belong to a specific caste or religion, or as a result of family strife.

The narrative is, however, evolving. And women are leading the change. Daughters and mothers are standing up for one another. Mothers and mothers-in-law, too, are breaking the hierarchy and supporting the women in their homes. The Indian woman now has confidence and the will to follow her passion, thanks to financial inclusion, independence, and education.

Once considered a taboo, women leaving their husbands are no longer viewed with contempt. The glass ceiling is breaking. Women are helping fellow women in shattering the stereotype. Mothers, sisters, and sisters-in-law are driving this trend, which is becoming ingrained in household culture.  For example, I am aware of modern mothers-in-law who prepare and pack lunch boxes for their DILs. The new trend is inspiring and interesting. It is bringing families together.

As the nuclear family becomes the new norm, female bonding is supporting a new area in Indian households that includes togetherness and happiness in addition to financial stability.

Now, I wait for that day when I see India in the doubt digit ranks in the UNDP index.

 


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DEI, Health on FSSAI Focus

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In two separate developments, the Food Safety and Standards Authority of India (FSSAI) has announced equal opportunities for female and transgender business owners. In addition, the authority urged people to refrain from storing, serving, and packing food in newspapers.

The first instance supports DEI. FSSAI has added a special category provision to the online Food Safety Compliance System (FoSCoS) portal. The provision seeks to advance gender equality and equal opportunities for female and transgender business owners in the food industry.

“Under this provision, licensing and registering authorities will process Special Category applications in a balanced manner. The objective is to maintain a one-to-one ratio alongside regular applications. … until there are no pending applications in either category,” the authority said in a statement.

In the second instance, FSSAI cautioned that newspapers are prone to contamination by bacteria, viruses, and other pathogens.

G Kamala Vardhana Rao, CEO, FSSAI, said that the ink used in newspapers contains several bioactive substances with known detrimental effects on health. Heavy metals and other chemicals found in printing inks, such as lead, have the potential to leach into food over time and pose a serious health risk.

To ensure consumer safety, the FSSAI has advised using approved food packaging materials like food-grade containers.


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COP28 Unveils Innovative Global Accountability and Inclusivity Program

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The two-week theme agenda for the conference has been unveiled by the UAE Presidency of COP28 and is aligned with four key goals in addition to the ongoing negotiation process and the crucial Global Stocktake response.

COP28 UAE, which is slated to take place at Expo City Dubai from November 30 to December 12, will concentrate its efforts on advancing a just, orderly and equitable energy transition; fixing climate finance; putting nature, lives and livelihoods at the heart of climate action; and mobilizing for the most inclusive COP.

The two-week thematic programme was developed in collaboration with stakeholders, including civil society, NGOs, youth, and Indigenous Peoples, to ignite action and enact policy, financial, and technological remedies. The effort included a six-week transparent consultation period where stakeholders were invited to offer suggestions on the theme domains and their arrangement. The COP Presidency made a ground-breaking decision with this strategy, being the first time such a participative endeavour has been undertaken.

Highlights

  • COP28 UAE Presidency will host critical climate talks alongside an ambitious and inclusive two-week thematic program.
  • An official program designed following COP28 President-Designate’s global listening and engagement tour and strategic vision and plan announcement at MoCA in July.
  • COP28 program to include first-ever days dedicated to Health/Relief, Recovery, Peace, and Trade and Multilevel Action/Urbanization.
  • The thematic program will run in both the Blue and Green Zones.

The event will kick off with a rousing two-day World Climate Action Summit and feature the official debut of the Global Stocktake response to world leaders. During this summit, the COP Presidency will vigorously seek pledges and guarantee accountability. The programme is further enhanced with special days that are themed and designed to address critical global concerns.

COP28 will set aside a day for discussions focused on Health, Relief, Recovery, and Peace in a first for COP conferences. Notably, one of the highlights of this theme day will be a high-level ministerial on climate health. In addition, COP28 will be the first to combine trade and finance discussions, highlighting its all-encompassing strategy. To coordinate efforts for sustainable cities that are cleaner, greener, and safer for both the present and future generations, the conference serves as a unique forum that brings together leaders from all levels of government and society.

An inclusive process that prioritizes frontline communities underpins each of the fortnight’s theme days. The conversations will focus on how finance, technology, and innovation can work together to create significant solutions.

Key themes and events:

  • November 30: COP28 UAE opens to the world at Expo City, Dubai.
  • 1-2 December: World Climate Action Summit
  • December 3: Health/Relief, Recovery, and Peace
  • December 4: Finance/Trade/Gender Equality/Accountability
  • December 5: Energy and Industry / Just Transition / Indigenous Peoples 
  • December 6: Multilevel Action, Urbanization, and Built Environment/Transport
  • December 7: Rest Day
  • December 8: Youth, Children, Education, and Skills
  • December 9: Nature, Land Use, and Oceans
  • December 10: Food, Agriculture, and Water
  • 11-12 December: Final Negotiations

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Who is widening the gender diversity gap in India?

Renjini Liza Varghese


I have noticed that business organisations of late have started taking a strong stance in favour of diversity by promoting gender parity. The focus is on inclusion and Diversity, Equity, and Inclusion (DEI).

The ground reality at the community level, however, is a far cry. Lip service tops the play on the subject in any Indian community where patriarchy still plays a dominant role. Announcements, therefore, frequently come out as empty platitudes, and the progress we have made is far from adequate. A report jointly released by UN Women and UNDP, two United Nations organisations, highlights this fact.

According to the report, India continues to have a distressingly low level of global gender parity (GGPI) and women’s empowerment (WEI). Her WEI and GGPI stand at 48% empowerment deficit and a 44% gender disparity, respectively.

On the tipping scale, we scored higher than our neighbours in central and southern Asia—an empowerment gap of 50%, but the scales dipped to 44 % in the gender gap vis-à-vis the other countries who fared slightly better at 42%.

For some time now, I’ve been considering penning my thoughts on diversity and inclusion. Thus far, I was scouting for an ideal subject to write. Even as I was pondering whether to start from the terms of employment practises at the organizational level? Or should I focus on the more crucial aspect of the upbringing of a child?

My thought process was jolted by local sports or commonly known as gully games. Outdoors, gully games are a common sight in any locality. As I watched the young guns screaming and making the sport noise, I realized that the teams were either all boys or all girls! When did the sports world at the gully level transition from a gender-neutral game to bond to a competitive sport for a single gender?

For instance, in my own residential complex, there is a widening divide between boys and girls who play the same sport at the same time, but separately.  When I compare this to a decade ago, I saw a mix of both—boys and girls roughing it out on the cricket field or the make-shift football stadium. Casual conversations with friends, acquaintances and relatives revealed that the norm persists everywhere. Infact, some haughty parents (who nonchalantly played with the opposite gender proudly claim that they are asking their children to develop separate `boys` and `girls` groups. Why?

Unintentionally so, but we are widening these gaps, creating the spasm and developing adults who would grow up to be uncomfortable in the presence of the opposite sex. Shouldn’t we start teaching kids about gender equality, diversity, and inclusion at a much younger age?

These kids are the torchbearers of tomorrow.  While it may appear that I’m criticising the way kids are raised, I’m actually pointing out a critical change that is required to hasten India’s growth trajectory. Combining gender parity and diversity, equity, and inclusion (DEI) is a difficult goal that must be built up gradually.

Let’s start young and raise a generation that truly understands the value of variety, inclusion, and equality.


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