1st and only Indian bank to be a part of three global ESG benchmark indexes – MSCI ESG/SRI, DJSI, and FTSE4Good in 2017
Mumbai, November 23, 2017: YES BANK, India’s fifth largest private sector bank, has made it to the MSCI All Country World Index (ACWI) - ESG Leaders Index and MSCI ACWI SRI Index.
YES BANK is amongst the top 12% of the global financial industry on ESG (Environmental, Social & Governance) Performance and highest compared to the top-10 largest banks globally. The MSCI ESG Ratings are constructed based on thousands of data points across 37 Key ESG Parameters, including:
Access to Finance
Financing Environmental Impact
Financial Product Safety
Privacy & Data Security
Human Capital Development
The report highlights that on Corporate Governance, YES BANK is in the highest scoring range of all companies that MSCI assesses, which includes global peers, indicating that the Bank’s corporate governance practices are aligned to shareholders’ interest. Demonstrating a strong ability to capitalize on access to finance theme, through product and distribution channels, innovation targeting SMEs and rural areas, YES BANK faces high level of opportunity to expand its services to under-banked population.
While commenting on this significant global inclusion, Mr Rana Kapoor, Managing Director & CEO, YES BANK, said, “YES BANK’s additional selection in MSCI ACWI ESG Leaders & SRI Index this year is a matter of great pride. This inclusion reinforces YES BANK’s laser-sharp focus on prioritizing Corporate Governance, Risk Management and ESG performance. The Bank’s 360 degree risk framework, which includes ESG parameters, is integral to future-proofing the Bank’s business. The Bank proactively looks at mitigating emerging risks and creates new opportunities in India’s climate resilient business sectors. We are delighted that this “Hat-Trick” after DJSI and FTSE4Good, is a true demonstration of YES BANK’s high level performance on economic, social & environmental objectives. We feel truly honored that YES BANK is selected in this prestigious index, while in its 14th year of operation, acknowledged amongst global banking giants.”
MSCI serves 99 of the top 100 largest money managers, according to the most recent P&I ranking. YES BANK’s inclusion in the MSCI ACWI Index suite would give the Bank premium positioning with those global investors that have benchmarked $3.2 Trillion assets with ACWI.
Commensurate with its Responsible Banking ethos, YES BANK is the first and only Indian bank to be selected in all major global sustainability benchmarking indexes, including Dow Jones Sustainability Index (DJSI) - Emerging Markets and the FTSE4Good Emerging Index.
About MSCI Indexes
MSCI ACWI ESG Leaders Index includes companies with high ESG performance relative to its sector peers. MSCI ACWI SRI Index consists of companies with highest ESG ratings in each sector, after excluding companies whose products have negative social or environmental impacts and those that are not compliant with UN Global Compact.
MSCI ESG Leaders Index and MSCI SRI Index are regularly accessed by global investors and financial analysts looking at socially responsible investments. With Socially Responsible Investing (SRI) on the rise, growing number of asset owners are integrating Economic, Social and Governance (ESG) criteria in investment decisions. According to United Nations Principles for Responsible Investment, 1,750 investors representing over USD 70 trillion in assets under management have committed to integrating sustainability into investment decisions.
For more than 40 years, MSCI’s research-based indexes and analytics have helped the world’s leading investors build and manage better portfolios. Clients rely on our offerings for deeper insights into the drivers of performance and risk in their portfolios, broad asset class coverage and innovative research. Our line of products and services includes indexes, analytical models, data, real estate benchmarks and ESG research. For more information, visit www.msci.com. The language and content have been suitably modified from the MSCI ESG Report for contextual relevance.
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 28 states and 9 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/