About the Report

ICICI Bank is a responsible corporate committed to building a sustainable future through focussed initiatives and interventions. It has a well-structured Environmental, Social and Governance (ESG) framework to drive its sustainability efforts and enable long-term growth.

Our ESG Policy is approved by the Board of Directors and covers all the important facets of sustainability. The Board Risk Committee is responsible for oversight of this policy. The Committee periodically reviews the Bank’s action plan on various aspects of ESG, external reporting and stakeholder feedback.

Message from the Chairman

During fiscal 2023, we continued to advance in our ESG journey by undertaking relevant initiatives aimed at building a sustainable and responsible business.

Girish Chandra Chaturvedi Chairman

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Message from the Executive Director

The Bank’s focus on environmental, social and governance (ESG) area is anchored by a dedicated team and guided by an executive-level ESG Steering Committee under the oversight of the Risk Committee of the Board of Directors.

Sandeep Batra Executive Director

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17.1 billion litres

Water harvesting potential created annually


Schools benefitted from rainwater harvesting


Restoration of water bodies

11 billion litres

Water saved annually through System of Rice Intensification (SRI) and Alternate Dry and Wet (ADW) sustainable farming methods

1.4 million

In fiscal 2023

2.6 million

Since inception

17.08 million kWh

Renewable energy used in fiscal 2023 in own premises


IGBC certifications for Business Centres (branches) and offices covering 4.42 million sq. ft. area, a little over one-third area of the Bank

1.35 tCO2e to 1.16 tCO2e

Carbon emission reduced per Full Time Equivalent (FTE) employee from fiscal 2022 to fiscal 2023

Over 2,000

Schools were solar powered with a total capacity of 5 MW in fiscal 2023

tCO2e – Tonnes of carbon dioxide equivalent. It is a standard unit for counting GHG emissions

One Full Time Equivalent (FTE) employee = One full time employee working on a full time schedule over the year

Indian Green Building Council (IGBC) certification is assessed on the key metrics of energy efficiency, use of renewable energy, water conservation, waste management, indoor air quality and sustainable sourcing of material among others

10.9 million

Across all states and union territories since inception

1.5 million


2.9 million


6.5 million

Societal Development

₹12 billion

Committed to Tata Memorial Centre (TMC) in June 2023 to set up three new buildings for cancer care and equip them with state-of-the-art machines


Patients will be treated annually, doubling the capacity of these centres


Individuals supported for availing treatment in fiscal 2023


Hospitals supported till March 31, 2023


Independent Directors


Executive Directors

Independent Directors

They constitute the majority on most committees

They chair most committees

Performance evaluation of Board, Committees and Directors by independent external agency

Set up a dedicated ESG team to lead ESG and CSR initiatives; regular updates on the ESG actionables and progress provided to Risk Committee

Developed a Framework for Sustainable Financing; the Bank's outstanding Sustainable Financing portfolio was ₹556 billion at March 31, 2023

Introduced the Suppliers’ Code of Conduct

  • For vendors providing infrastructure-related services
  • Taking steps to align vendors’ plans with the Bank

Set guidelines for green procurement in own operations

Limited assurance undertaken for Scope 1 and Scope 2 emissions

Multiple levels of management oversight with ultimate responsibility lying with the Board of Directors

External review of privacy maturity assessment in fiscal 2023 placed the Bank’s data privacy practices above industry benchmark

Benchmarking assessment put the Bank’s cybersecurity posture at par with global banks

'Fair to Customer, Fair to Bank'

One Bank, One Team

Return of Capital is Paramount

Agile Risk Management

Compliance with Conscience

ICICI Bank’s Contribution to UN SDGs

At ICICI Bank, we are playing our part in contributing to the NDCs and the UN SDGs through our business and corporate social responsibility activities. Our presence across the length and breadth of the country gives us the opportunity to bring about meaningful change and with long-term benefits.

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Stakeholder Engagement and Materiality Assessment

In fiscal 2022, the Bank conducted its first materiality assessment exercise to identify key material topics for ourstakeholders and business. Our five-step approach for assessing material issues involved:

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