YES BANK has been recognized among the 100 Best Emerging Market Performers by V.E, part of Moody’s ESG Solutions. The ranking, as of July 2021, highlights the top 100 companies listed in developing markets that demonstrate advanced performance in social responsibility, human rights, employment practices, environmental protection, corporate governance, business ethics, and contributions to socioeconomic development.
YES BANK continues to be the only Indian bank featured in the ranking. It was previously included in the V.E list during the December 2017 – June 2019 period.
The ranking is based on V.E’s Equitics® Emerging Markets Universe, covering 843 companies across 31 countries and 22 sectors. Companies are assessed on 38 ESG criteria and nearly 330 indicators across six areas: environment, human rights, human resources, community involvement, business behaviour, and corporate governance. The list is updated annually in July.
Niranjan Banodkar, Chief Financial Officer, YES BANK, said:
“We are pleased to regain our position on V.E’s prestigious ‘Best Emerging Market Performers’ ranking. It reflects the significant steps taken by the Bank to strengthen governance frameworks, focus on climate and environmental performance, enhance socioeconomic contributions, and make comprehensive disclosures. Our aim is to build a responsible, resilient franchise that creates sustainable value for all stakeholders.”
YES BANK has taken several initiatives to integrate ESG considerations into its business strategy:
Adopted a voluntary Environment and Social Policy to manage ecological and social risks in lending.
Instituted an ISO 14001:2015 certified Environmental Management System to address operational impact.
Introduced an ESG-linked Supplier Code of Conduct to promote sustainability in its supply chain.
Committed to climate action by measuring financed emissions, aligning with global decarbonization pathways, and reducing carbon emission intensity by 5% in FY21.
Rated ‘A-’ (Leadership Band) by CDP for its 2020 Climate Change disclosures.
In FY21, the Bank’s Inclusive & Social Banking and Microfinance Banking divisions provided access to finance to 9.8 lakh women in rural and semi-urban areas. Its CSR initiatives trained farmers in productivity enhancement and improved access to safe drinking water.
YES BANK also remains the only Indian Founding Signatory to the Principles for Responsible Banking, the first global framework aligning banking practices with the UN Sustainable Development Goals and the Paris Agreement on climate change.