ICICI Bank has always endeavoured to partner in India’s development. The nation’s commitments and needs are important goals for the Bank as well. We have a long history of such partnerships. We started as a development financial institution aiming to meet the industrialisation goals of the country during the early stages of development. Over the years, we have been working to meet the economy’s need for inclusive growth. We have been doing so by enabling financial inclusion, skill development and other activities.
Through businesses and corporate social responsibility related activities, the Bank has made efforts to create lasting value for a sustainable tomorrow. The Bank has established a strong corporate governance framework that is based on an effective independent Board, robust monitoring and risk management, and policies that require high professional and ethical standards. Other areas of the Bank’s efforts are focused on Promoting Inclusive Growth, Managing Environmental Footprint, Socially Responsible Banking and Commitment towards a Sustainable Future. Through these efforts, ICICI Bank has been able to contribute to the national commitments towards the United Nations Sustainable Development Goals (UN SDGs). The efforts made by the Bank has enabled a positive contribution to at least 12 SDG goals.
By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day
By 2030, build the resilience of the poor and those in vulnerable situations and reduce their exposure and vulnerability to climate-related extreme events and other economic, social and environmental shocks and disasters
Skill development and strengthening livelihoods
ICICI Foundation for Inclusive Growth (ICICI Foundation) has provided skill training to over 5.2 lakh underprivileged individuals across urban and rural India to enhance employment opportunities and improve livelihood.
Financial inclusion and lending to key segments of the rural population
Banking the unbanked through 2.1 crore financial inclusion accounts, facilitating direct benefit transfers and lending to over 70 lakh women beneficiaries under the Self Help Group-Bank Linkage Programme (SBLP) have enabled smoothening cashflows, secure digital payments, financial protection and entrepreneurial activities.
By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women, indigenous peoples, family farmers, pastoralists and fishers, including through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets and opportunities for value addition and non-farm employment
By 2030, ensure sustainable food production systems and implement resilient agricultural practices that increase productivity and production, that help maintain ecosystems, that strengthen capacity for adaptation to climate change, extreme weather, drought, flooding and other disasters and that progressively improve land and soil quality
Rural and Inclusive Banking
Providing financial support to farmers and participants in the agri value chain is core to our rural strategy. The Bank has developed different products and services taking into consideration the needs of every participant across all activities. We have also developed technology-based solutions, like the mobile app, Mera iMobile, that is available in 12 Indian languages and offering financial as well as non-financial information like agri-commodity prices and real-time weather information. The app can be used even without internet.
Rural initiatives of ICICI Foundation
The village level efforts of ICICI Foundation include projects that focus on enhancing livelihood and also designing solutions to create and nurture local value chains to catalyse transformation of these villages into self-sustaining ecosystems. Imparting training in at least 50 skills, with entrepreneurship development as an integral part of the module, this initiative has impacted lives of around 2.75 lakh individuals in over 2,100 villages.
Local skill training through RSETIs
Vocational training given to rural youth from marginalised communities at the two Rural Self-Employment Training Institutes (RSETIs) focussed on promoting entrepreneurship and livelihood development. The RSETIs offer pro-bono training in 30 trades that have been developed based on local business requirements.
By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship
By 2030, eliminate gender disparities in education and ensure equal access to all levels of education and vocational training for the vulnerable, including persons with disabilities, indigenous peoples and children in vulnerable situations
Providing pro bono vocational training
ICICI Foundation offers skill development training to people from underprivileged and marginalised sections of society so that they can earn sustainable livelihoods. ICICI Foundation operates 27 urban training centres across 19 states and one union territory. It also provides training based on local needs to individuals living in villages and has covered over 2,100 villages. Since inception, ICICI Foundation has trained over 5.2 lakh individuals.
Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic and public life
Equal opportunity employer
Meritocracy and equal opportunity in the Bank’s people decisions has led to a large number of leadership positions being held by women over the last two decades. Comprehensive policies and procedures are in place to ensure a safe and dignified work environment and also take care of life-stage needs of women.
Promoting women entrepreneurship
Through the SBLP programme, we promote women entrepreneurship in rural areas.
Skill development and livelihood programmes of ICICI Foundation
ICICI Foundation provides equal opportunities for women to upskill and enhance their employment opportunities by providing pro bono skill development programmes, placement support and by encouraging women-led entrepreneurial ventures. Over half of our trainees are women.
Proportion of wastewater safely treated
By 2030, substantially increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity and substantially reduce the number of people suffering from water scarcity
By 2020, protect and restore water-related ecosystems, including mountains, forests, wetlands, rivers, aquifers and lakes
Water saving efforts in our operations
We undertake efforts to optimise consumption of water at our large offices through our 3R principles – Reduce, Recycle wastewater and Recharge through rainwater harvesting.
Water conservation projects
A dedicated group undertakes water conservation projects by deploying funding lines from multilateral agencies and the government. Some key initiatives have led to benefits like recharging of underground aquifers and water bodies.
By 2030, ensure universal access to affordable, reliable and modern energy services
By 2030, increase substantially the share of renewable energy in the global energy mix
By 2030, double the global rate of improvement in energy efficiency
Financing with a focus on sustainability
We lend to projects that support capacity creation in renewable energy projects based on appropriate assessment of risks and returns.
Environment sensitivity in our operations
We have implemented a comprehensive energy management and conservation programme and promoted use of renewable energy sources at our offices, branches and ATMs, wherever feasible. In fiscal 2020, over 7% of our total electricity consumption was sourced from renewable sources.
Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalisation and growth of micro, small, and medium-sized enterprises, including through access to financial services
By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value
By 2020, substantially reduce the proportion of youth not in employment, education or training
Rural and inclusive banking and promoting financial inclusion
We provide customised banking solutions and enable digital solutions that support the financial needs of range of rural customers including farmers, women and micro enterprises.
Skill training by ICICI Foundation
ICICI Foundation offers skill training that has enabled underprivileged individuals across 29 states and one union territory.
Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets
By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities
Rural and inclusive banking
As part of rural development efforts, we offer customised banking solutions to catalyse the agricultural and dairy ecosystems.
ICICI Foundation Rural Livelihood Programme
ICICI Foundation has been working on strengthening village ecosystems by promoting locally relevant skills and enabling market linkages thereby promoting growth of local enterprise.
Sensitivity to environmental impact
We adopt the policy of environment friendly practices and green building features at our large offices and branches.
By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status
Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard
Policies ensuring no-discrimination
The Bank is committed to a no-discrimination policy and ensures a strong mechanism for dealing with harassment or discrimination. The Bank upholds the principle of advancement based on talent and performance with a commitment to equal opportunity.
By 2030, substantially reduce waste generation through prevention, reduction, recycling and reuse
Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle
Environment sensitivity in our operations
We are committed to prudent use of natural resources and strive to minimise the overall amount of waste that we generate. We are guided by the philosophy of ‘Reduce, Reuse and Recycle’.
By 2030, combat desertification, restore degraded land and soil, including land affected by desertification, drought and floods, and strive to achieve a land degradation-neutral world
By 2030, ensure the conservation of mountain ecosystems, including their biodiversity, in order to enhance their capacity to provide benefits that are essential for sustainable development
Local level efforts towards supporting these goals
Through specific projects, we have contributed towards protecting the local biodiversity and the environment. These initiatives were largely through the ICICI Foundation and the dedicated group providing funding and knowledge for such projects. A few case studies also form a part of this report.
Substantially reduce corruption and bribery in all their forms
Develop effective, accountable and transparent institutions at all levels
ICICI Bank is committed to maintaining the highest standards of governance in the conduct of its business. The Bank promotes a culture of accountability, transparency and ethical conduct. The Bank’s corporate governance framework encompasses several policies, codes and procedures including the Group Code of Business Conduct and Ethics, Anti-Bribery and Anti-Corruption Policy, Compensation Policy and Group Anti Money Laundering Policy. The Bank also endeavours to be a responsible partner in nation-building.