New Delhi, January 10, 2014: YES BANK, India’s fourth largest private sector Bank, and TERI BCSD, an independent CEO-led industry body mainstreaming sustainability in business, signed a Memorandum of Understanding (MoU) to accelerate momentum for sustainable development, environmental management, social responsibility and sustained economic performance, among Indian corporates. This MoU comes at an opportune time when Corporate India is about to begin a structured journey towards CSR and Sustainable Development. Some highlights of the MoU include initiatives towards Natural Capital which India would be discussing at the 40th G8 summit in June 2014.
This MoU is an enabler for YES BANK to work with the BFSI sector on responsible finance, financial inclusion especially focussing on Agri, MSME and Tourism sectors. Both TERI BCSD and YES BANK believe that research plays an important role in policy making, evolving strategic approaches and innovative mechanism to fuel economic growth. The MoU strategically includes this as a critical step towards overall development of India.
Speaking on the occasion, Mr Rana Kapoor, Managing Director and CEO, YES BANK said “I firmly believe that such collaboration is a response to the rising need for holistic sustainable development in the nation. This MoU is a beginning of an enriching relationship which would facilitate Climate Change mitigation and Natural Capital conservation. YES BANK has been the sustainability torch bearer within the BFSI. I am sure this initiative with TERI BCSD would enable us influence a sustainable behaviour and create value for our stakeholders.”
Dr R K Pachauri, Director General, TERI stated, "YES BANK's leadership in addressing natural capital, as a financial institution, is admirable. This MoU is the start of an enriching partnership between TERI BCSD and YES BANK. I believe TERI's innovative research capabilities in the field of sustainable development will certainly support YES BANK's commitment towards responsible banking. We look forward to engaging with YES BANK in this collaborative relationship towards ensuring sustainable resource use."
About the Coldry process and applicability in India
About YES BANK LIMITED
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional and entrepreneurial commitment of its Founder Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the vision of “Building the Best Quality Bank of the World in India”.
About TERI BCSD:
TERI Business Council for Sustainable Development (BCSD) is a strong industry body with membership of more than 100 leading corporates from diverse sectors across the country. The council engages with international bodies, government ministries/departments and other industry associations to address sustainability issues throughout the supply chains. TERI-BCSD evangelizes the Indian corporate Diaspora to mainstream sustainable development in their business planning and practice and engages with the Chief Sustainability Officers of leading corporates to collectively undertake business supported and justified sustainability projects which foster a sustainable economy.
For media queries, please contact: