Close

Press Release

YES BANK signs Green Finance charter with European Development Finance Institutions – FMO of Netherlands, DEG of Germany and Proparco of France

~ The four Banks came together to mobilize climate finance, explore opportunities in India’s sunrise sectors and address climate change at the YES BANK & FMO Green Finance Symposium

~ YES BANK becomes first Indian Bank to launch a Green Bond Impact Report

Mumbai, June 20, 2017: YES BANK, India’s fourth largest private sector bank, and FMO (the Development Bank of the Netherlands), along with DEG (the Development Bank of Germany) and Proparco (the Development Bank of France), organized an investment symposium on ‘The Opportunity of Green Finance in India’, today, where the four banks signed a charter to champion green finance in India. Through the charter, the four banks committed to mobilize green investments, seize opportunities in India’s sunrise sectors, and contribute to achieving India’s Nationally Determined Contribution (NDC) and Sustainable Development Goals (SDG) targets, towards climate change.

The symposium, which aimed to shed light on the increasing investment potential of green assets in India and the Asia-Pacific region, also marked the launch of YES BANK’s first Green Bond Impact Report, highlighting the outcomes of projects financed by the Bank’s three green bonds, as of FY17. The proceeds of the green bonds issued by YES BANK have helped fund renewable energy projects across nine states of India, and are estimated to generate 2.35 million MWh of electricity, annually. Additionally, these projects will potentially avoid annual emissions of 2.3 MT of Carbon Dioxide (CO2), 19 KT of Sulphur Dioxide (SO2), and 5.7 KT of Oxides of Nitrogen (NOX). YES BANK issued India’s first ever Green Infrastructure Bonds in February 2015, raising INR 10 billion, followed by a second issue of INR 3.15 billion in August 2015. In September 2016, YES BANK raised INR 3.3 billion by issuing a 7-year term green bond to FMO – the Dutch bank’s first investment in Green Infrastructure Bond issued by a bank in India.

Over 50 different domestic and international financial institutions, spanning the public and private sector, including regulators, stock exchanges, rating agencies, banks, private equity firms, and DFIs, attended the symposium. Also in attendance were key stalwarts from the banking and finance industry such as Mr. Ashishkumar Chauhan, MD & CEO, Bombay Stock Exchange; Ms. Ayaan Z. Adam, Director, Private Sector Facility, Green Climate Fund; Ms. Chandni Khosla, Head, International Business, National Stock Exchange, and Ms. Barnali Mukherjee, Chief General Manager, Securities Exchange Board of India, amongst others.

Sharing his thoughts on the opportunity of green finance in India, Mr. Rana Kapoor, MD & CEO, YES BANK, said, “Green Financing has become a propeller of the global sustainability agenda and will play a mission critical role in meeting India’s climate targets. The government’s thrust towards transforming India into a low-carbon economy offers financial institutions and investors an unprecedented opportunity to leverage green financing as a growth accelerator for sunrise and climate positive sectors such as renewable energy. YES BANK has taken a lead in demonstrating innovative climate financing mechanisms, and catalyzing the Indian climate finance market. We are proud to partner and to facilitate global development banks in expanding their green portfolios in India.”

Commenting on the occasion, Ms. Linda Broekhuizen, Chief Investment Officer, FMO, said, “FMO is convinced that to accelerate green finance and to have a meaningful impact, it is essential that financial institutions, governments and international development finance institutions bundle forces. This event forms a unique platform to discuss the opportunity-side of green finance, connect the parties and propel local prosperity.”

Speaking on the occasion, Mr. Guillaume Barberousse, Head of Banking & Capital Markets, Proparco, said, “Green Finance is at the core of Proparco’s strategy, and it is even more true in India and the region. Proparco is therefore very happy to support the development of Green Finance through this partnership with YES BANK, the leading player in that space in India and a long standing client of Proparco, together with fellow DFIs FMO and DEG.” 

Commenting on the occasion, Ms. Karin Homermann, Vice President, DEG, said, “DEG as a development finance institution is focusing on green finance and has invested in the development of wind, solar and hydro power assets in India since 2008. We are looking forward to work on sustainable solutions together with our partners YES BANK, FMO and Proparco in order to contribute to India’s clean energy transition.”

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 INDIA’s FINEST QUALITY LARGE BANK”.

For further information, please contact:

YES BANK
Devika Ghosh
Ph.: Mob: +91 9820869940
Email: devika.ghosh@yesbank.in

Adfactors
Jyothi Goswami
Ph.: +91 22 67574444
Email: jyothi@adfactorspr.com

FMO
Anneloes Roeleveld
Ph.: +31 70 314 9357
M: +31 6 21303088
Email: a.roeleveld@fmo.nl

download app

Android App for YES BANK

Download App

You will shortly receive a SMS from us at the mentioned Mobile no. by you. This SMS contains an App download link.
Please try after Some time.
App Store for YES BANK

Download App

You will shortly receive a SMS from us at the mentioned Mobile no. by you. This SMS contains an App download link.
Please try after Some time
yes pay wallet

Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more

Read More