Mumbai, 21 August - YES BANK, India’s fourth largest private sector Bank, has become the first Indian Bank to release its sustainability report with an ‘A’ level Check Certificate from the Global Reporting Initiative, the global standard for sustainability reporting.
The Bank’s Sustainability Report was released by Shri. P. Vijaya Bhaskar, Executive Director, Reserve Bank of India, on 21 August at Mumbai in the presence of Dr. Aditi Haldar, Director, Global Reporting Initiative India, Ms. Namita Vikas, President and Chief Sustainability Officer, YES BANK, and other Senior Executives.
YES BANK is the first Indian Bank to release its Sustainability Report with an ‘A’ level Check Certificate from the GRI, endorsing its strength in sustainability disclosures. This is the first year that YES BANK is releasing its standalone Sustainability Report as per the GRI G3.1 Guidelines.
A disclosure level of ‘A’ indicates the highest level of disclosures within a sustainability report, thus placing the BANK in a leadership position in sustainability reporting within the Indian banking sector. YES BANK has effectively used sustainability reporting to enhance transparency and accountability and used it as a report card to measure its sustainability targets and objectives.
At the release of YES BANK’s first Sustainability Report, Mr. Rana Kapoor, MD & CEO, YES BANK, said, “YES BANK has been a pioneer in the sustainability space in the Indian banking sector, through its Responsible Banking philosophy and triple bottom line ethos. We consider the release of our first sustainability report with an ‘A’ level check from GRI as a reaffirmation and recognition of this long standing commitment.
We welcome the passage of the new Companies Bill that lays stress on the need for Indian Corporates to report on their environmental, social and corporate governance performance. I hope, we will be joined by our peers in the Indian banking sector and the industry at large in adopting sustainability reporting as a key organizational commitment.”
Speaking at the launch of YES BANK’s Sustainability Report, Shri P. Vijaya Bhaskar, Executive Director, Reserve Bank of India, said,” I congratulate YES BANK on the release of their Sustainability Report and I desire that YES BANK evangelises sustainability amongst other Indian Banks and in the rural areas of the country.”
Dr. Aditi Haldar, Director, Global Reporting Initiative India, said, “YES BANK’s robust sustainability disclosures on impact parameters including Community Engagement, Waste, Occupational Health & Safety and Climate Change demonstrates that it is at par with its global peers. This is an opportunity for YES BANK to play the role of a mentor to Indian Commercial Banks who need to show pro-activeness in the sustainability space.”
Sustainable Finance is the key pillar of growth at YES BANK and the Bank’s commitment to mainstream sustainability has been widely recognized through various national and international recognitions over the years.
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Speaking about the release of YES BANK’s Sustainability Report, Mr. Dipankar Sanyal, CEO, TERI BCSD, said, “We are happy to know that YES BANK is releasing its sustainability report under the GRI framework and has been rated at A level. As an active member of TERI-Business Council for Sustainable Development, we have had the pleasure of partnering in several sustainability initiatives that YES Bank has undertaken. We have observed a high level of commitment to sustainable practices at all levels of functional responsibilities. The Bank’s leadership in sustainable development is well recognized and respected in the country; getting it formally certified is its natural progression. As the first Indian bank to release its Sustainability Report FY 2012-13 – ‘Catalyzing a Shared Sustainable Future’, YES BANK reaffirmed its leadership in one more way. We congratulate YES BANK on this occasion.”
Mr. Pooran Chandra Pandey, Executive Director, Global Compact Network India, said, “ I congratulate YES BANK on release of its GRI A Level Sustainability Report. Being the first Indian Bank to release a GRI checked Sustainability Report, I hope many more of YES BANK’s peers will join it in reporting their triple bottom line performance. The fact that the report seamlessly embeds Ten Universally Acceptable United Nations Global Compact principles makes it stand taller and be unique in more ways than one.”
About YES BANK
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Mr. 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” by 2015.
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