Commitment towards a Sustainable Future

At ICICI Bank, we leverage our financing decisions to help the nation in transitioning to a low carbon economy, to catalyse environment conservation and to drive positive change in the lives of the underprivileged. As a large bank offering financial services to a wide segment of customers, we are aware of the imperative for making responsible financing decisions. We are committed to support projects that encourage capacity creation in sectors that are environmentally and socially relevant. Our risk management processes involve a detailed assessment of associated environmental and social risks for projects above a specific threshold. In addition, the Bank has set up a dedicated team to provide grants to projects with well-defined social and environmental benefits in the areas of energy and environment conservation, education, health, sanitation and promotion of sustainable livelihoods.

Financing with a Focus on Sustainability

One of our major focus areas as a bank is the ability to channelise capital to sectors that are favourable for the environment. We have been financing projects for capacity creation in environment-friendly sectors. We were among the early financiers for development of the first electric vehicle in the country. The focus on promoting renewable energy in the country’s energy mix has prompted us to support financing to renewable energy sectors like solar, wind and small/mini hydro power and other sustainable sectors like waste processing, based on appropriate assessment of risks and returns. The Bank’s outstanding to the renewable energy sectors was about ₹2,900 crore at March 31, 2020. Over the years, the Bank had also financed projects related to pollution reduction and recycling. Some of these projects include conversion of molasses to ethanol, waste heat recovery in cement production and fly ash recycling.

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The Bank’s ‘Social and Environmental Management Framework’ integrates the analysis of the environmental impact of a proposed project, and the assessment of its social risks, into the overall credit appraisal process.

Assisting Projects for Sustainability

At ICICI Bank, we have a dedicated and specialised, internal group that identifies and supports projects in the areas of energy and environment conservation, education, health, sanitation and promotion of sustainable livelihoods. The group disburses and manages funding lines received by the Bank from various bilateral and multilateral agencies, and the Government of India.

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Solar based ‘Community Khawa Production Unit’ set up by Nirmal Milk Product Association in Osmanabad district, Maharashtra.