YES BANK- IIT Delhi partnership to be instrumental in scientifically addressing the concerns and impacts of climate change in India
YES BANK Chair would promote excellence in Climate Change Research & Development
Delhi, Aug 10, 2018: YES BANK, India’s fourth largest private sector bank, signed a Memorandum of Understanding (MoU) with IIT Delhi to institutionalize the YES BANK Chair at IIT Delhi for Climate Modeling. The Chair will be instrumental in development and improvisation of climate modeling methodology and contribute towards formulation of an India centric climate model at the DST Center of Excellence (COE) in Climate Modeling. The COE in Climate Modeling is a major initiative taken by IIT Delhi and supported by the Department of Science and Technology (DST), Government of India, to arrive at accurate future climate change projections for the country, thereby promoting informed decision-making in the wake of global warming and climate change.
YES BANK - IIT Delhi signs MoU in the presence of Prof. V Ramgopal Rao, Director, IIT Delhi and YES BANK officials
Speaking on the occasion, Rana Kapoor, MD & CEO, YES BANK, said, “Sustainability has been a mission critical pillar at YES BANK since inception, and we have always been committed towards making it core to our business operations. I want to commend IIT Delhi for its focus on sustainability and tackling climate change. I believe this partnership with IIT Delhi is a testament of YES BANK’s uncompromising focus on prioritizing ESG performance and mainstreaming sustainability in the Indian Industrial sector, through cutting edge solutions in climate and environmental finance and community impact.”
Speaking about the partnership, Prof. V Ramgopal Rao, Director, IIT Delhi said “Strategically responding to climate change would accelerate understanding of the inherent opportunities and ensure creation of sustainable solutions. I believe that our collaboration with YES BANK, a leader in Responsible Banking, would enable shared learning through joint research and development, thereby promoting climate-smart development in India.”
Since its inception, YES BANK has a strong 'sustainability mandate', bolstered by ethos of ‘Responsible Banking’ and believes in mainstreaming climate action in its core business strategy. The Bank’s laser sharp focus on addressing climate change is reflected in its unprecedented commitment to mobilize sustainable finance in India, robust risk management frameworks and disclosure mechanisms that have established a legacy of institutional excellence. YES BANK is also the first and the only Indian bank to support Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). In the 5th year of Environment Management Policy implementation, YES BANK has successfully completed certification audit of 744 YBL locations and now has the highest number of its facilities under the EMS ambit in the banking sector globally.
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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