- Release of YES BANK – TERI report ‘Business imperatives of adopting Circular Economy in India', at World Sustainable Development Summit 2018
Delhi, February 19, 2018: YES BANK, India’s fourth largest private sector bank partnered TERI (The Energy and Resources Institute) as Banking Partner for the World Sustainable Development Summit (WSDS) 2018 in New Delhi.
Shri Suresh Prabhu, Hon'ble Minister of Commerce and Industry, Government of India inaugurated the YES BANK - TERI joint report on ‘Business imperatives of adopting Circular Economy in India’. The report offers a self-evaluation tool for business to optimize resources at product & organization level. The tool, names Materiality Circularity Indicator assesses Circularity at both - product and organization level, allowing businesses to align their performances in line with principles of circularity and highlight untapped opportunities.
L to R: Mr Ratan P Watal, Member Secretary, Economic Advisory Council; Ms Astrid Schomaker, Director, Global Sustainable Development; Mr Chanakya Chaudhary, Group Director, Corporate Communications & Regulatory Affairs, Tata Steel; Dr Prodipto Ghosh, Former Secretary, GoI; Shri Suresh Prabhu, Hon'ble Minister of Commerce and Industry, GoI; Mr Anil Kumar Jain, Addl. Secretary, Ministry of Environment Forest and Climate Change, GoI; Ms Namita Vikas, Global Head, Climate Strategy and Responsible Banking, YES BANK; Dr Ajay Mathur, Director General, TERI
Hon’ble PM Shri Narendra Modi delivered the Inaugural Address on February 16 and stressed on re-enforcement of India’s commitment to work towards a sustainable planet, for present and future generations. The PM highlighted India’s steady progress on creating a carbon sink of 2.5-3 bn tonnes of carbon dioxide equivalent by 2030, a mighty feat. As the world’s fastest growing major economy, the PM spoke about India’s immense energy needs, expected to be met by 175 GW Energy from renewable sources, by 2022.
The Summit also witnessed participation from Shri H.S. Puri, Minister (IC) for Housing and Urban Affairs; Shri R.K. Singh, MoS (I/C), Power & Renewable Energy; Shri Jayant Sinha, MoS, Civil Aviation; Dr. Harsh Vardhan, Union Minister, Ministry of Science & Technology, Ministry of Environment, amongst a host of other National and International decision makers.
Commenting on this occasion, Rana Kapoor, MD & CEO, YES BANK, said “In a world of finite resources, it is crucial to identify and innovate a new and restorative economic model. The concept of circular economy promises a way out, through improved longevity of products, waste minimization, sharing, renting, repair and reuse to maximize product value before returning it to the environment safely. Given its USD 4.5 trillion global opportunity, innovative businesses and start-ups are already venturing into this space.”
YES BANK believes that as a financial institution, there is an inherent need to play a leading role in India’s development. Since its inception in 2004, YES BANK through its ‘Responsible Banking’ ethos has believed in creating sustained value for its stakeholders, through social, economic and environmental dimensions. Integrated with core business strategy, Responsible Banking steers the sustainable development agenda at YES BANK through its pathways of Social & Developmental Impact, Climate Action, and Transparency & Disclosures.
About YES BANK
YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its 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 offers 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 long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.
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