Environmental Sustainability

ICICI Bank has made significant strides in fiscal 2022 towards further embedding environmental priorities in its business and own operations.

ICICI Service Centre in Bandra-Kurla Complex, Mumbai, has been awarded a 'Platinum' rating by Indian Green Building Council (IGBC).

Environmental, Social and Governance (ESG) matters are becoming increasingly relevant for companies across various sectors. For banks, ESG priorities, inter alia, range from identification and promotion of sustainable assets, recognising ESG risks and opportunities, developing sustainable financing strategies, and incorporating ESG and climate change issues in risk management and governance.

The Bank has been making efforts in these areas through various initiatives. In fiscal 2022, a consulting firm was appointed to review the ESG practices at the Bank, and recommend steps to strengthen the same. The Bank established a Board-approved Environmental, Social and Governance (ESG) Policy, which outlines the key priorities and integration of ESG across various functions. The environmental focus of the Bank at present is broadly towards promoting capacity creation in sustainable sectors, evaluation of ESG and climate risks and incorporating it as part of the credit assessment process and ensuring environmental sensitivity in the Bank’s own operations.


ICICI Bank is committed to supporting the nation’s transition to a low-carbon economy and contribute towards sustainable growth. The Bank has emphasised financial inclusion and has developed digital products and strategies to improve access to finance for segments like Micro, Small and Medium Enterprises and the unbanked rural areas. Lending to sustainable sectors, like renewable energy, is another focus area subject to appropriate assessment of risks and returns. At March 31, 2022, the Bank's outstanding portfolio to sectors like renewable energy, electric vehicles, green certified real estate, waste management and positive impact sectors like small-scale khadi and handicrafts was about ₹ 73.80 billion.

Consideration of ESG in the Bank’s lending decisions and risk management framework are important factors and the Bank has started evaluating various approaches in this regard. A beginning was made in April 2020 with the introduction of the social and environmental management framework that integrates analysis of environmental and social risks 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.

ICICI Bank has recently taken a step further in the process of incorporating ESG and climate risk aspects as part of the credit evaluation process. Borrower ESG scores from external agencies are considered during the evaluation of a proposal. Further, the Bank has developed sector-specific checklists on ESG and assessment of climate-related physical and transition risks that a borrower in the sector could be exposed to. A response would be sought from the top borrowers of the Bank on these identified areas that would help in profiling the borrowers, based on their ESG-related risks and maturity in terms of policies and processes deployed to address these risks. The data gathered would then be evaluated to understand the ESG profile of the Bank’s borrowers, likely concentration risks and determining the next steps.

Climate change and its impact on the economy and financial systems is a tangible risk and requires close monitoring. The Bank will align its efforts with the nation’s commitments and efforts towards transitioning to a low-carbon economy. As the understanding on climate risk is still evolving, the Bank has formulated an approach to address risks emanating from climate change, as part of a Climate Risk Management Framework. The scope of the framework comprises assessment of impact of climate change on the Bank’s own operations, climate risk management of the Bank’s loan book and integration of material climate risks into the existing risk management framework. The framework will be periodically reviewed for aligning with regulatory guidance on climate risks.

Developing proficiency in understanding ESG-related risks and opportunities and evaluation of ESG/climate related risks has been part of the training imparted to a core team within the risk management group during fiscal 2022.


ICICI Bank continued to make progress in rationalising the use of natural resources and developing strategies for improving energy efficiency and adoption of green practices.

Few key activities undertaken during the year were:

  • An additional 0.80 million square feet of Bank’s premises were certified under the Indian Green Building Council (IGBC) green building rating. The total area with IGBC certification increased from 2.28 million square feet in fiscal 2021 to 3.09 million square feet in fiscal 2022.
  • An additional 260 kWp of solar power capacity was added during fiscal 2022, taking the cumulative renewable energy installed capacity to 3,174 kWp. The Bank also reviewed and enhanced the supply of renewable power under the power purchase agreements. Around 7% of energy consumption in fiscal 2022 were from renewable sources.
  • The Bank developed a digital integrated maintenance portal to manage breakdown and preventive maintenance requirements of critical equipment at branches and offices.


of total area green certified


temperature policy as per ASHRAE1 guidelines across branches and offices

Energy consumption of

127 million units

or 0.89 units per square feet per month, which is equivalent to a 4-Star as per BEE Energy Efficiency benchmark


new branches were equipped with energy and water efficient equipment

Rainwater Harvesting

implemented at various locations, including two of our large offices

1 ASHRAE standards and guidelines include uniform methods of testing for rating purposes, describe recommended practices in designing and installing equipment and provide other information to guide the industry.

A rooftop solar plant installed at ICICI Bank's regional office on Bund Garden Road in Pune.


The Bank appointed TUV India Private Limited to conduct an independent limited assurance of the Bank’s Scope 12 and Scope 23 emissions in fiscal 2022.

In absolute terms, the Bank’s GHG emissions increased by 3.6% in fiscal 2022. However, the year-on-year carbon emission per Full Time Equivalent (FTE) employee declined from 1.38 tCO2e4 in fiscal 2021 to 1.36 tCO2e in fiscal 2022. The Bank did not purchase carbon credits and related instruments during the year.

ICICI Bank’s GHG emissions in its own operations in fiscal 2022 were:

2 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.

3 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.

4 tCO2e - Tonnes of carbon dioxide equivalent.