How is the ICICI Bank Propelling its SDG Journey?

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.”

Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani portfolio companies, has been certified Water Positive by DNV, an independent global assurance agency.

AGEL’s Water Balance Index for operating plants with more than 200 MW capacity (Tamil Nadu, Rajasthan, Karnataka, Gujarat and Andhra Pradesh), is 1.12 (Positive). The company has surpassed its target to become Net Water Neutral by FY25.

AGEL has a 99.5% lower freshwater consumption per unit of generation as against 3.5 KL/MWh statutory limit for thermal power in FY23.

With third-party procured surface water as its primary source and robotic module cleaning systems, AGEL continues to monitor and reduce freshwater consumption.

The DNV verification statement signifies AGEL’s water conservation is greater than consumption for FY23, aligning with the UN Sustainable Development Goal 6, the company said in a press statement.

Three dust storms in a span of 30 days
Unseasonal rains
Destruction of seasonal crops
Dust particles in the air
Rising cases of viral fever
Blatant tree felling
Unplanned urban infrastructure
Unprecedented heat in February

Readers, you can add to the list.

The impact of climate change has just raised its ugly fang in the commercial capital of India!

Mumbai has witnessed three dust-storms in the last month. The main reason for the the dust-storms was the dust winds that blew from southern Pakistan and the Arabian Sea. It is also a clear indication of the conflict between man and nature.

Alarm bells?
While the current developments ring an alarm bell and are a warning for Mumbaikars to take note of rapid developments in our city. Do not get me wrong. I completely support urban infrastructure because I have witnessed first-hand the positive role it plays in the day-to-day lives of Mumbaikars. Take the Metro network for example or the expanding railway network.

All the same, declining AQI, rising sea levels, heatwaves and dust-storms too are a reality—monsters we have to face, whether we like it or not. Turning our heads away from the problem cannot suffice. We cannot allow natural disasters to rule our lives. We do deal with one every monsoon—but the heavy downpour and water logging is not a result of climate change—but a manmade disaster led by arrogance, ignorance and shoddy work.

And yet, heatwaves and drastic changes in temperatures are clear indicators of how carbon emissions, greenhouse gases are adding to climate change and impacting not just the human lives, but marine lives and biodiversity as well.

The fix:
The present fix needs collective action. At its end, the government has set a target to make Mumbai Net Zero by 2050—20 years ahead of the national goal!

The Brihanmumbai Municipal Corporation (BMC)—our watchguard too has developed a policy document: Towards a Climate Resilient Mumbai as part of the Mumbai Climate Action Plan (MCAP).

The government and the city administration have the right intent. The target is ambitious, but achievable. Urban infrastructure will continue to expand as the city embraces more migrants and integrates them into the mainstream. Our social fabric is being stretched to the limit, is shrinking, but will never break!

I love this chaos that gives us our distinctive character. But what am I doing for my city? All it takes are small deeds. For instance, setting a timer for the AC; minimizing the use of plastic and reuse or recycle it wherever possible, e-waste and waster conservation. These are individual deeds. I want to contribute to all endeavors that retain the old flavor of Amchi Mumbai and at the same time, am excited to see what the futuristic Mumbai looks like.

BUT NOT AT THE COST OF HER PEOPLE AND HER SWABHIMAAN!!!

We all speak about water conservation, recharging the soil, and rainwater harvesting at length. Here is a second snippet I want to share after I wrote the first blog on my Kerala Diaries.

Kerala is a state blessed with rains throughout the year. Monsoon, return monsoon, intermittent summer rains, rains due to depression in the Arabian Sea, Bay of Bengal and so on. The months we really don’t receive rainfall were perhaps limited to March and April until five years ago.
In the recent past, the rain pattern has changed dramatically because of climate change. For the past few years, the state has witnessed acute water shortage during the summers starting Feb till May. What is causing this?

Considering the abundant rains, water scarcity was unheard of till about 2012-2013. However, unplanned construction, concretization of open areas which prevent #waterrecharge is leading to water scarcity, and gradual #deforestation are leading to the chaos.

My home in Kerala is on an elevated terrain. And the slope of the topography makes it easy for water to seep into the soil and store water. My father, who witnessed concretization around us, had forecast natural catastrophe in the neighbourhood. His prediction was accurate. The region faces water shortage during the summers as all the courtyards have been covered with pavement blocks or concretized. These prevent the water from seeping into the soil, and now; there is a dearth of natural resources that can retain or harvest water.

Every drop of water that falls in our house and surrounding areas seeps into the soil. A small boundary wall prevents the water from draining off the compound and instead diverts directly to the well. End result? In summer, when my neighbours face acute water issue, this well is replenished with fresh water.

Lessons learnt:
Optimize naturalresources,
Water recharge is a must,
Focus on soil and waterconservation,
Understand and respect your environment

Tag: Water Conservation

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How is the ICICI Bank Propelling its SDG Journey? WriteCanvas News

Here are some ways ICICI Bank is aligning its ESG goals with the UN SDGs:

C-Suite thurst:

Adani Green Energy obtains DNV certification for water conservation Sonal Desai

Dusting the impact of climate change on Mumbai Sonal Desai

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Kerala Diaries -2 Renjini Liza Varghese

How is the ICICI Bank Propelling its SDG Journey?
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Adani Green Energy obtains DNV certification for water conservation
Sonal Desai

Dusting the impact of climate change on Mumbai
Sonal Desai

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