ICICI Bank office at Gachibowli, Hyderabad rated ‘Gold’ by IGBC in ‘LEED India – Core & Shell’ category (inset: IGBC Plaque).

We focus on environmental sustainability in our operations.

The Covid-19 pandemic has accelerated action around protecting society and the environment, and adopting the principles of Environmental, Social and Governance. At ICICI Bank, we have a long-standing commitment of contributing to socio-economic development in a way that is impactful and makes a difference to the lives of people. We have a Board-approved Environment, Social and Governance (ESG) Framework that articulates key principles and actions governing the Bank’s efforts in adopting ESG. The Bank is committed to responsibly conduct its business with prudent use of resources. We follow responsible financing practices by promoting environment-friendly sectors and have laid emphasis on environmental and social risk management objectives as a part of financing.


Project and corporate financing are governed by prudent risk management practices. All new project and corporate financing proposals are reviewed under a social and environmental management framework that integrates analysis of the environmental and social risk assessment into the overall credit appraisal process. The key elements of the assessment include an exclusion list, seeking a declaration from borrowers of compliance with applicable national environmental guidelines/approvals for qualifying proposals subject to threshold criteria defined in the framework, and due-diligence by a Lender’s Independent Engineer (LIE) for large-ticket project loans identified as per the criteria defined in the framework.

Our lending to environment-friendly sectors is based on appropriate assessment of risks and returns. We have actively financed projects for capacity creation in environment-friendly sectors. This includes renewable energy sectors like solar, wind and hydro power and other sustainable sectors like waste processing and mass rapid transport. Our outstanding portfolio to the renewable energy sectors was about ₹31.50 billion at March 31, 2021.

Further, the Bank availed lines of credit from select multilateral agencies towards financing green/sustainable assets. The assets financed under these lines include financing for wind, solar, biomass plants and energy efficiency projects. At March 31, 2021, the outstanding lending by us for such specific purposes was USD 70.8 million.

An internal team within the Bank is dedicated to providing financial assistance to initiatives that promote biodiversity, environmental sustainability and initiatives in education, health, sanitation and livelihoods. The team’s mandate is to administer funding lines received from bilateral/ multilateral agencies/Government of India, specifically for such projects. Their efforts include identifying relevant projects, ensuring financial assistance through collaboration or directly and knowledge sharing. Total financial assistance provided by the group in fiscal 2021 was about ₹265.0 million. Some of the projects implemented in fiscal 2021 were:

  • Assistance was provided for skilling in a tribal belt in Amaravati district in Andhra Pradesh. Adopting sustainable agriculture, sustainable livelihood and village level institutional empowerment are some of the focus areas which is expected to benefit the people in 20 villages.
  • A watershed development project in Yavatmal district of Maharashtra has been given assistance that would lead to 200 hectares of land being brought under protective irrigation and treatment for soil/water erosion.
  • In the area of promoting education, assistance has been provided for part of the cost for setting up a school in Bhandara district of Maharashtra, which is expected to provide educational facilities to students belonging to low-income groups at a nominal fee. Another project involved sponsoring the conversion of two schools into innovation hubs for education.
  • Establishment of a geriatric care centre for older adults at Bhubaneswar that would provide outpatient, diagnostic and surgical services, a rehabilitation centre for the elderly, home care and tele medicine/internal medicine facilities. The centre will also focus on training eye care cadres in elderly care and research on various age-related eye conditions.
  • Government departments, institutions and organisations were supported in their efforts to fight the Covid-19 pandemic. This involved supplying essential protection material, strengthening hospital infrastructure and extending support to health workers.


The Bank’s commitment to energy efficiency and adopting environment-friendly practices in its operations remains a prime objective. Our consistent efforts over several years, and ongoing enhancements at our premises on various fronts, has led to efficiency gains. These efforts range from adopting green features at our premises, energy efficiency practices, water conservation measures and paper savings. Fiscal 2021 was a disruptive year as the Bank’s large offices were partially closed and there was limited opportunity to undertake any new energy conservation initiatives, though certain ongoing projects continued.

Green Building Features

Roof top solar panels at ICICI Bank Towers in Ambattur, Chennai.

Since fiscal 2018, the Bank has been ensuring Indian Green Building Council (IGBC) green building features in all its new offices and branches at the time of set up. The total number of offices awarded the highest rating was 11 at March 31, 2021, covering a total area of 2.28 million square feet. The Bank has employees who are certified IGBC Accredited Professionals.

97.5 KWp

of new solar power capacity added at the Bank’s premises, taking the total onsite renewable energy capacity to 2.9 MWp.

30 %

of the energy requirement at the Bank's three large offices were met through renewable energy in fiscal 2021.

A lithium ion battery storage system at an ICICI Bank branch in Delhi.

Efforts Towards Reducing Emissions

Reducing greenhouse gas emissions and securing the future of our planet requires an all-encompassing approach. We have actively pursued opportunities to adopt new technologies and energy-efficient practices in our operations to reduce our operational emissions. This is an ongoing effort at the Bank. Our efforts have included undertaking audit of our large offices and branches for identifying areas of focus for improving energy savings, investing in new technologies and experimenting with new ideas that are proven to be favourable for the environment. One such recent effort has been towards replacing diesel generating sets with lithium ion battery storage system at branches to enhance reliability and improve energy efficiency. Another effort undertaken during fiscal 2021 was replacing carbon dioxide based fire extinguishers with Clean Agent fire extinguishers at the Bank’s branches that are less damaging to the environment.

Our efforts to reduce emissions also include promoting use of renewable energy sources wherever feasible at our premises. During fiscal 2021, 97.5 KWp (Kilo Watt peak) of new solar power capacity was added at the Bank’s premises, taking the total onsite renewable energy capacity to 2.9 MWp (Mega Watt peak) at March 31, 2021. The total generation from these systems was 3 million kWh during the year, which was 66% higher on a year-on-year basis.

Under the open access mechanism for power sourcing, the Bank has signed power purchase agreements (PPA) for solar and wind energy purchase for three of our large offices. The total contracted capacity is 9 MWp. These offices have been using renewable energy since fiscal 2016, and during fiscal 2021, 30% of the energy requirement at these offices was met through renewable energy.

In fiscal 2021, the Bank engaged an external consultant to evaluate our Scope 1* and Scope 2** emissions for comprehensiveness and accuracy. The Bank’s Scope 1 and Scope 2 greenhouse gas emissions in the last three years were as follows:

*Greenhouse Gas (GHG) Scope 1 - Direct GHG emissions that occur from sources owned or controlled by an organisation. For instance, fuel-led emissions from boilers, furnaces, vehicles, etc.

**Greenhouse Gas (GHG) Scope 2 - Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling. While these emissions may physically occur at the facility where they are generated, they are accounted for in an organisation’s GHG inventory as they are generated for use by the organisation.

Water Savings

The Bank has been ensuring that water consumption per day in its large offices is lower than the benchmark of 45 litres per person per day as per the Bureau of Indian Standards for large offices. The Bank has undertaken various initiatives to conserve water. The Bank recycles and reuses waste water at three large offices including the ICICI Service Centre (Corporate Office) at Bandra-Kurla Complex, Mumbai. All new offices and branches opened during the year were fitted with water-efficient plumbing fixtures. Rainwater harvesting is being undertaken at three large offices.

Paper Consumption

Fiscal 2021 was an exceptional year for paper consumption, due to lockdown and containment measures and large-scale adoption of work-from-home. These factors and the growing use of digital channels led to a decline in paper consumption.

Extending the digital advantages to customers and in our processes are an ongoing effort. The Covid-19 pandemic accelerated the adoption of digital channels by customers for undertaking banking activities. This was augmented by a series of digital products launched by us during the year to enable our customers to continue accessing banking services without visiting a branch and with minimal disruptions. We believe that encouraging customers to adopt digital practices not only helps in improving efficiency and reducing servicing time, but also create a positive impact on the environment. ICICI STACK, WhatsApp banking, Video KYC for onboarding of customers and cardless cash withdrawal facility at ATMs were some of the digital initiatives launched during the year that enabled customers to transact in a safe and secure environment. During the year, a range of insta-lending products were offered to customers which are end-to-end digitally processed. There were significant efforts towards decongesting processes and reducing physical movement of documents. A significant portion of the Bank’s operations today are paperless. Further, we procure environment-friendly copier paper which is manufactured from wheat straw, which is an agricultural residue. The Bank is continuously reviewing its systems and processes for optimising paper consumption.

Waste Management

The Bank focusses on waste reduction and its management in every aspect of its operations. The Bank undertakes recycling of organic waste using composting techniques at the Bank’s large offices in Mumbai at Bandra-Kurla Complex and Chandivli, and at the Learning Centre in Khandala. E-waste is disposed by handing over to certified recyclers. The Bank also supports reuse of electronic devices. The Bank uses remanufactured toners in printers which get recycled at least 2-3 times. The Bank also recycles its IT assets which are then donated.


The Bank has adopted corporate objectives for environment conservation activities in conformity with the ISO-14001 standard 'International Organisation for Standardisation' for environmental management systems. This enables the Bank in developing policies for addressing the objectives of environmental sustainability and assessment of impact of the Bank’s activities, products and services on the environment. Health and safety systems at 13 large offices of the Bank have been OHSAS 18001:2007* certified. The environment management systems of the ICICI Service Centre at Bandra-Kurla Complex in Mumbai are both OHSAS 18001:2007 and ISO 14001:2004** certified.

The data centre was the country’s first data centre to be awarded ‘Platinum’ by IGBC. The call centre at Thane in Mumbai was declared a Leader in energy efficiency at the National Level Energy Conservation & Management Awards by the Confederation of Indian Industry (CII). The Bank won 16 awards for energy efficiency/ environment management during fiscal 2021.

*OHSAS 18001:2007 is an international standard for environmental management, applicable to all companies in business. It is an international certification that shows an organisation’s commitment to health and safety of employees.
**ISO 14001:2004 is an international standard that specifies requirements for an effective environmental management system (EMS).