Only Indian bank to be included among top-12% of 249 global FIs assessed
1st and only Indian bank to be a part of 3 global ESG benchmark indexes in 2017 – DJSI, FTSE4Good and MSCI ESG/SRI
Mumbai/ Delhi, May 9, 2018: YES BANK recently became the only Indian bank to be awarded ‘PRIME’ status by OEKOM Research AG. With this recognition, YES BANK stands amongst the top 12% of 249 Global financial institutions assessed on Environmental, Social & Governance (ESG) performance.
Commenting on the announcement, Rana Kapoor, MD & CEO, YES BANK and Chairman, YES Global Institute said, “YES BANK has set benchmarks in spearheading sustainability and the ‘Prime’ status awarded by OEKOM Research AG is a true demonstration of the bank’s commitment to sound sustainability practices. The bank’s 360 degree risk framework, which includes ESG parameters, is integral to future-proofing the bank’s business. The assigned ‘Prime’ status reinforces YES BANK’s laser-sharp focus on corporate governance, risk management, prioritizing ESG performance and mainstreaming sustainability in the Indian banking sector.”
Investors are increasingly focusing on financially robust and resilient companies, demanding better utilization of capital resources. As ESG disclosures take centre stage, investors need companies to disclose information on climate risks. In January, YES BANK became the first and only Indian bank to support Financial Stability Board’s (FSB) Taskforce on Climate-related Disclosures (TCFD) at the One Planet Summit hosted by French President Emmanuel Macron in Paris to mark the 2nd anniversary of the historic Paris Agreement. With recognitions such as these, YES BANK continues to incorporate ESG as a cornerstone of its business practices, wherein Environmental sustainability is not only key to the bank’s risk mitigation processes but also an indispensable part of its own responsibility as a corporate citizen.
With its ESG leadership, YES 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 and additionally selected in MSCI ACWI ESG Leaders, MSCI ACWI SRI and FTSE4Good Emerging Index for 2017.
About OEKOM Research AG
OEKOM Research AG is one of the world’s leading rating agencies for sustainable investments and has offices in Germany (Munich), France (Paris), United Kingdom (London), USA (New York) and Switzerland (Zurich). The agency analyses businesses and countries with respect to their environmental and social performance. Over 180 asset managers and asset owners in 13 countries regularly incorporate the rating agency’s research into their investment decisions. OEKOM Research’s analyses currently influence around USD 1.5 trillion assets under management.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. 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 29 states and 7 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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