YES BANK selected in the FTSE4Good Emerging Index for 2nd consecutive year
Selected amongst 87 banks from emerging markets
The selection reinforces YES BANK’s position as a global sustainability leader in India, with strong Environmental, Social and Governance (ESG) performance
Mumbai, August 20, 2018: YES BANK, India’s fourth largest private sector Bank, has been selected in the FTSE4Good Emerging Index for 2nd consecutive year. The selection highlights YES BANK’s continued leadership in environmental, social and governance (ESG) performance. YES BANK was rated above the threshold for companies in emerging markets, as well as that of developed markets, by FTSE Russell. YES BANK was selected amongst 87 banks from emerging markets, including China, Brazil, South Africa and UAE.
The Emerging Index comprises of companies selected through an assessment of over 300 data points that include:
Environmental Pillar: Climate change action, environmental footprint, and environmental supply chain
Social Pillar: Community initiatives, human rights and labour practices
Governance Pillar: Corporate governance, customer responsibility, risk management and tax transparency
The bank continues to be the first and the only Indian bank to be selected in Dow Jones Sustainability Index (DJSI) - Emerging Markets for three consecutive years; additionally selected in MSCI ACWI ESG Leaders, MSCI ACWI SRI and FTSE4Good Emerging Index for 2017.
On being included in the global ESG Index, Rana Kapoor, Managing Director and CEO, YES BANK, said, “YES BANK’s continued selection in FTSE4Good Emerging Index for the second year, is a matter of great institutional pride. This inclusion reinforces YES BANK’s consistent focus on prioritizing Corporate Governance, Risk Management and ESG performance. With Responsible Banking as a centrifugal force, YES BANK has always believed that high performance on Environmental & Social parameters coupled with strong governance practices, is a key enabler for sustained growth. This selection reiterates YES BANK’s unmatched commitment to go beyond its fiduciary responsibilities and set benchmarks in climate action, community impact, and transparency.”
Commenting on the selection of YES BANK into the Index, FTSE Russell said, “FTSE Russell confirms that YES BANK has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.”
The FTSE4Good Emerging Index, launched in December 2016, assesses 1000+ companies across 47 countries and comprises 528 organisations while covering 23 emerging economies including Brazil, China, Malaysia, Mexico, Qatar, Russia, South Africa and UAE. The selection is effective from June 19, 2018, and would be valid till the next annual review.
About FTSE Russell
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $12.5 trillion is currently benchmarked to FTSE Russell indexes1. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com
For more information on FTSE4Good indices, please visit website at http://www.ftse.com/products/indices/FTSE4Good
About YES BANK
YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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