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.

ICICI Bank finances projects in renewable energy sectors and other sustainable sectors (representational image)

Beneficiaries working with solar powered charkhas, which were set up with a grant facilitated by ICICI Bank, in Amravati district, Maharashtra

Cleaning of river Gomti in progress with equipment procured by Lucknow Municipal Corporation through a grant facilitated by ICICI Bank

ICICI Bank, in association with an NGO, Samvardhan, carrying out de-siltation of a first order stream at a village in Washim district, Maharashtra

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.

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.

We adopt a holistic approach to financing which encompasses identifying and assessing relevant projects with tangible impact in our focus areas. We grant assistance either directly or through collaboration. We continuously monitor the projects to ensure efficient use of the funds. We also help the recipients of our grants to improve their efficacy by sharing knowledge and expertise with them.

Over the years, the group has supported multiple initiatives which had a significant positive impact on conserving the environment, creating sustainable livelihood opportunities for communities, and furthering access to education and health facilities for the underprivileged sections of society. From providing grants for funding construction of toilets in Tamil Nadu under the Swachh Bharat initiative to supporting Akshaya Patra Foundation in setting up of a kitchen to provide mid-day meals, we have chosen diverse social initiatives to enhance the wellbeing of our citizens.

Some of the key financial grants facilitated by us during fiscal 2020 are mentioned below:

• We facilitated a grant to Shirol Taluka Apang Punarvasan Va Arthik Sahayya Sanstha, a public trust, to set up a residential and skill development centre for differently abled children and youth.

• We have provided grant assistance to Transplants - Help the Poor Foundation, a public trust, to meet a part of the cost for organ transplants of 83 critically ill, underprivileged patients.

• We facilitated a grant to the Lucknow Municipal Corporation to purchase two fully automatic aquatic weed harvesters for cleaning the Gomti river. The project will also facilitate the development of a green belt on the banks of the river.

• We facilitated a grant assistance to Gujarat Cancer and Research Institute, a public trust providing diagnostic and therapeutic services to less privileged patients, for surgeries of patients suffering from cancer.

• Nirmal Milk Product Association, a not-forprofit company operating in Osmanabad district of Maharashtra, has been sanctioned a grant to set up a centralised solar-powered ‘Community Khawa (milk product) Production Centre’ which will provide employment opportunities to 350 women and assured milk offtake from over 3,000 farmers.

• We provided a grant to Parivartan Shetkari Krushi Vidnyan Mandal for setting up of a centralised agriculture tool bank in Washim district of Maharashtra. Over 2,500 small and marginal farmers will get access to this tool bank on payment of a nominal rent.

• Mangrove and Marine Biodiversity Conservation Foundation which was established by the Government of Maharashtra for conservation of mangroves, was one of the recipients of our grants in fiscal 2020. The grant has been utilised for plantation of mangroves and other forest species on 25 hectares of barren coastal land in Ratnagiri district of Maharashtra through community participation. The mangroves and the other trees planted will be nurtured for three years to help restoration and maintenance of the balance of the marine ecosystem.

• We facilitated a grant to Kisan Vigyan Samiti, a society that promotes sustainable farming by application of science and technology in Uttarakhand and Uttar Pradesh. The grant will be used for the development of fruit farms in six locations over two years to increase average household incomes from fruit trees, diversify the rural economy, aid employment creation and environment conservation.

• We provided grant assistance for Women’s Initiative for Self Employment (WISE), a not-for-profit organisation that promotes women entrepreneurs across four locations in Uttarakhand and Jammu & Kashmir. We have assisted WISE for establishing Women Resource Centers to help local self help groups in these four locations, over a period of two years. These centres will help local self help groups over two years to undertake initiatives that will lead to better utilisation of local resources, thereby creating employment opportunities for locals. It will also help in preventing deforestation.

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

Case Study

Setting Up of Oxygen Generation Plant at Siachen

In April 2018, SIRF proposed the commissioning of an oxygen generation plant on the premises of the battalion headquarters. ICICI Bank provided a grant which contributed to a large part of the total cost of this unique project.

Case Study

Projects for Water Management and Conservation in Uttarakhand and Uttar Pradesh

The benefits of this project include prevention of water run-off and recharging of underground aquifers and water bodies. The use of trenches has led to higher moisture in the soil which has helped in ecological conservation.

Case Study

Projects for Water Conservation, Sustainable Agriculture and Livelihood Generation in Maharashtra

At ICICI Bank, we have provided grants and initiated a holistic intervention in these regions which includes four integrated development initiatives for water conservation, sustainable agriculture and livelihood generation.