The Bank’s large offices have an Energy Performance Index of 121 signifying a 4-Star Rating as per the BEE2 benchmarking system in India.
At ICICI Bank, efficient energy management and conservation underpins our strategy of managing the Bank’s environmental footprint. The Bank’s concerted and continuous, multi-pronged efforts have led to a consistent decline in per capita energy consumption across our operations.
Our Specific Energy Consumption1 has witnessed a significant decline between fiscal 2015 and fiscal 2020. Energy Performance Index (EPI) for the large offices reduced by 21.35% and Energy Performance Metric (EPM) for branches reduced by 27.74% over the last five financial years.
We embarked on a comprehensive energy management and conservation journey in fiscal 2013 and adopted a systematic, phased approach to managing our energy goals. Our comprehensive energy conservation strategy encompasses three broad areas – improvement in energy efficiencies, investments in design and technology and adoption of renewable energy to help us in achieving our energy goals.
Our energy conservation efforts gained significant momentum when we undertook a detailed energy audit in fiscal 2014. The audit covered 15 of our large offices and branches where energy consumption was higher than specific standards and identified a number of areas of saving energy.
ICICI Bank allocates a specific budget every year to continuously improve our energy efficiency. A central team uses this budget to implement initiatives to improve our energy efficiency across all offices as well as branches. Our recent initiatives in this area include:
ICICI Bank ensures usage of renewable energy at its premises wherever feasible. In order to reduce our carbon footprint, in fiscal 2020, 7% of our total electricity consumption was sourced from renewable sources.
We adopt a two-pronged approach to drive the adoption of renewable energy:
As on March 31, 2020, the total solar power capacity installed at our premises was 2.8 MWp (Mega-Watt peak). We have installed small capacity solar power plants at 554 rural branches and at over 200 ATMs. In fiscal 2020, we added 1 MWp ground mount solar power plant at our Disaster Recovery Centre in Jaipur.
We have signed Power Purchase Agreements (PPA) to purchase solar and wind energy for three of our large offices under the open access mechanism for power sourcing. The total contracted capacity as on March 31, 2020 was 9 MWp. Our three large offices at Mumbai, Chennai and Hyderabad have been using renewable energy since fiscal 2016 and close to 60% of their requirements are met through it.