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With responsible considerations ingrained in each action taken by YES BANK, it is imperative for the bank to not only materialize but to also set benchmarks in policy advocacy.
To achieve this position, YES BANK has partnered with the following associations:
Signatory to the UNEP FI
UNEP Financial Initiative is a global partnership between the United Nations Environment Programme and the financial sector. Over 200 institutions, including banks, insurers, and investors work with UNEP to bring about systemic change in finance to support a sustainable world.
YES BANK is the first Indian signatory to the UNEP FI and it continues to play a leadership role at the platform. Namita Vikas, Group President and Global Head – Climate Strategy and Responsible Banking, is the Asia-Pacific Chair of the UNEP FI.
Signatory to the Carbon Disclosure Project (CDP)
CDP, formerly the Carbon Disclosure Project, runs the global disclosure system that empowers bodies, including organizations, to measure and manage their environmental impacts.
YES BANK was the first Indian banking signatory to the CDP, and has been reporting on its greenhouse gas emissions since 2009. In FY 2015- 16, the Bank became the first Indian financial institution to be on the Climate Disclosure Leadership Index for five consecutive years. With a score of 98, the Bank scored second highest among all financial institutions on the Index, and improved on its score of 92 in the previous reporting cycle.
Signatory to the Natural Capital Financial Alliance (NCFA)
The NCFA was launched at the UN Conference on Sustainable in 2012 by UNEP FI and the UK-based non-governmental organisation, Global Canopy Programme (GCP). The finance-led worldwide initiative is officially known to integrate natural capital considerations into financial products and services, and to work towards their inclusion in financial accounting, disclosure and reporting.
In 2013, YES BANK became the first signatory to the NCFA (then NCD) to support the development of accounting, disclosure and reporting that incorporates the natural capital considerations.
Since January 2016, YES BANK has been consecutively and unanimously voted as the chair of the Steering Committee. As Chair, YES BANK oversees NCFA’s strategy and provides guidance to the working groups and the Secretariat.
The Bank was the Vice Chair of a Working Group on Accounting for Natural Capital, which seeks to develop a methodological system for accounting for the impacts, benefits and dependencies on natural capital at the company and portfolio level and now continues to be a member of this Working Group.
The Bank is also a part of another Working Group which focuses on Understanding impacts and dependencies on natural capital. Wherein, the Bank has committed to collaborate on building an understanding of the impacts and dependencies of natural capital relevant to operations, risk profiles, customer portfolios, supply chains and business opportunities.
Partnership with the Carbon Pricing Leadership Coalition (CPLC)
The CPLC was created at the 2014 UN Secretary-General’s Climate Summit in New York, and was officially launched at COP21 in Paris. Its vision is to cover 25% of global GHG emissions by explicit carbon prices by 2020 and to double that again in the next decade. It is a first-of-its-kind voluntary partnership of national and sub-national governments, businesses, and civil society organizations; led by the World Bank Group.
In April, 2016, YES BANK partnered with the CPLC, in the esteemed presence of H.E Ban Ki-moon, UN Secretary General, Mr. Jim Yong Kim, President - World Bank Group and Ms. Christine Lagarde, Managing Director - IMF. As a private sector partner to CPLC, YES BANK has committed to work for building momentum of Carbon Pricing by:
Partnership with the Indian Banks Association (IBA) and GIZ
YES BANK has partnered with the IBA and GIZ, the German Government’s international sustainable development agency, to develop the National Voluntary Guidelines on Responsible Financing. The guidelines seek to promote financial institutions to adopt eight principles, which include Guidance on ethical conduct and Environmental & Social (E&S) governance, E&S risk management, Minimizing environmental footprint in internal operations, Environmentally friendly products, services and investment, Enabling inclusive human and social development, Stakeholder engagement, Commitment to human rights, and Disclosure.
YES BANK was a part of the Drafting Committee of the Guidelines, which were presented at the Executive Meeting of the IBA in 2015 and cleared for external assessment by member banks for implementation.
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