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Anchoring Financial Sector Action
YES BANK is fully committed to playing the role of a catalyst and works towards unlocking innovative financial mechanisms towards achieving India’s ambitious target of combating climate change in the near and long-term.
YES BANK commits to target mobilizing USD 5 Billion for climate action by 2020
Image (COP21 logo)
On the occasion of Conference of Parties (COP) 21 climate summit in Paris, YES BANK made a commitment to mobilize USD 5 Billion from 2015 to 2020 for
climate action through lending, investing and raising capital towards mitigation, adaptation and resilience. To achieve holistic impact and aid India’s target of meeting its Nationally Determined Contributions (NDCs), the Bank also committed to achieve the following by 2020:
•Target funding of 5,000 MW of clean energy
•Gradually increase percentage of Renewable Energy in its power portfolio
•Contribute towards creating a carbon sink by planting 2 Million trees
•Touch 100 Million lives through its safe and clean drinking water program
•Offset carbon emissions of the Bank’s operations
Renewable Energy Lending and Advisory
Towards achieving India’s NDCs by 2030, it is estimated that USD 2.5 trillion of investments may be needed. The need for climate finance is steadily increasing in India, further demonstrated by the country’s target to achieve 175 GW Renewable Energy by 2022. Currently, this market is experiencing an expansive growth with an additional capacity of over 4,000 MW of clean energy being added every year. As on March 31 2016, YES BANK has an exposure of 1,311 MW of renewable energy projects including solar, wind and biomass and holds a leadership position in this space.
YES BANK launches India’s FIRST Green Infrastructure Bond issue
Given the Government’s focus on India’s renewable energy potential and its target of 175 GW of additional capacity installation by 2022, it is estimated that the renewable energy sector would require significant financing. Existing financing
mechanisms face a number of challenges including sector limits, high interest rates and asset-liability mismatch, necessitating a need to evolve innovative financing mechanisms. Green Infrastructure Bonds are one such avenue to allow for financing
to flow to vital green energy projects.
In February 2015, YES BANK took leadership position in the banking sector in renewable energy financing by announcing the launch of India’s first Green Infrastructure Bond for Rs. 500 Crores with greenshoe option. Image
YES BANK raises money through world’s First Green Masala Bond
In August 2015, YES BANK and the International Finance Corporation (IFC) opened trading of the world’s first Green Masala Bond worth INR 315 Crores, on a private placement basis, and listed on the London Stock Exchange. This is the first investment by IFC in an Emerging Markets green bond issue. The bonds, for a tenor of 10 years, would be used by the Bank to finance green infrastructure projects in renewable energy and energy efficiency projects including solar power, wind power, biomass, and small hydel projects.
Global Engagement on Sustainable Development
YES BANK has taken a leadership position among its Indian banking peers in mainstreaming the sustainable development agenda at the global stage. As signatories to key global coalitions, such as the UNEP Finance Initiative (UNEP FI), UN Global Compact, the Natural Capital Declaration and CDP, the Bank has put forth the Indian viewpoint on key issues such as climate change, responsible finance and natural capital.
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