ICICI Bank, as a responsible corporate, is committed to building a sustainable future. It is steadfastly focused on delivering on its Environmental, Social and Governance (ESG) agenda through targeted initiatives.
At ICICI Bank, we have put in place an ESG Policy, formally approved by our Board of Directors. The Board Risk Committee of the Bank has an oversight of this policy. The Committee will review the Bank’s action plan on various aspects of ESG, external reporting and stakeholder feedback.
The ESG philosophy of the Bank aims at adopting sustainable business practices that ensure the long-term success of the organisation and have a positive impact on the environment and society. The Bank endeavours to promote long-term sustainable growth in the economy through business initiatives and responsible corporate citizenship.
ICICI Bank has aligned its ESG framework to the United Nations Sustainable Development Goals (UN SDGs) as well as the long-term developmental goals of building and enabling a dynamic India.
In line with our ESG roadmap, we strive to perform our operations in an environment-friendly manner. We seek to adhere strictly to the highest standards of corporate governance in the conduct of our business. Further, our programmes are designed to empower underprivileged Indians by transforming their lives and enabling them to earn sustainable livelihoods.
A key facet of our ESG agenda is rural transformation. We undertake various value chain interventions to transform our villages into self-sustaining entities progressing in an environment-friendly ecosystem. We propagate sustainable usage of natural resources to drive environment conservation. We also deploy responsible financing practices by promoting environment-friendly sectors. We also partner with third parties in enabling inclusive growth and conserving the ecological balance by providing them with financial grants.
In fiscal 2022, as a responsible financial institution, we continued our focus on fulfilling the needs of our customers, employees and the communities around us. We scaled up our digital interface to enable our customers and employees to transact amid the continuing pandemic. We gave our customers 24x7 contactless access to our products and services through our digital offerings. At the same time, we put in place well-crafted systems to ensure uninterrupted functioning of our branches and ATMs.
We also augmented our employee safety and well-being initiatives during the year. We provided our employees with a range of services designed to protect them and their families. We raised the bar of our digital proposition to empower our people so that they can effectively meet the expectations of our customers, while continuing with their career progression in the Bank.
As part of our community outreach efforts, we supported the nation’s Covid-19 relief operations in collaboration with the central/state governments, district administrations, municipal corporations, police forces and healthcare organisations. From providing basic essentials, we shifted focus to meet the urgent emerging needs of the people amid the second wave of the pandemic.
Our initiatives continue to propel the Bank's ESG journey towards environmental conservation, social empowerment, as well as transparent, ethical and responsible governance.
The information covered in the report is India-centric and excludes ICICI Bank’s international operations. It provides information related to ICICI Bank's ESG initiatives and covers the operations of ICICI Foundation for Inclusive Growth in fiscal 2022. Additional information about ICICI Bank can be found on its website www.icicibank.com
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