Mumbai, August 27, 2021: YES BANK is among the 100 Best Emerging Market Performers as assessed by V.E, part of Moody’s ESG Solutions. The ranking, as of July 2021, comprises the top 100 performing companies listed in developing markets with the most advanced scores in social responsibility, human rights, employment practices, environmental protection, corporate governance, business ethics and contributions to social and economic development in areas where they operate.
YES BANK continues to be the only Indian Bank in the ranking. It was first included in the V.E ranking from December 2017-June 2019 period.
The top performers are based on V.E’s Equitics® Emerging Markets Universe, which covers 843 companies from 31 countries. The companies shortlisted for the review are listed in 17 countries and cover 22 sectors. V.E assesses the performance of companies according to the Equitics® methodology, which is based on 38 ESG criteria and nearly 330 indicators broadly categorized under six key areas of environment, human rights, human resources, community involvement, business behaviour and corporate governance. The composition of this ranking is updated by V.E annually in July.
Commenting on the achievement, 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 is a testament to the significant steps taken by the Bank towards strengthening its governance frameworks, sharpenening its focus on climate, environmental and socioeconomic performance, and making comprehensive disclosures on how it is focusing on building a responsible, resilient franchise aimed at creating sustainable value for all its stakeholders.”
YES BANK has taken significant steps to integrate ESG considerations into its business strategy. The Bank has voluntarily adopted an Environment and Social Policy to address potential ecological and social risks associated with its lending activities. It has instituted an ISO 14001:2015 certified Environmental Management System to address the impact of its operations, while also adopting an ESG-linked Supplier Code of Conduct to integrate sustainability into its supply chain.
Committed to climate goals, the Bank has taken definitive action towards measuring its financed emissions and aligning its electricity portfolio with global decarbonization pathways and achieving a 5% reduction in the carbon emission intensity of its operations in FY21 over the year before. It was rated ‘A-‘(Leadership Band) by CDP for its 2020 Climate Change disclosures.
In FY21, the Bank’s Inclusive & Social Banking and Microfinance Banking divisions continued to deliver access to finance to 9.8 lakh women customers in rural and semi-urban areas. Its Corporate Social Responsibility initiatives trained farmers in productivity enhancement and also ensured access to safe and clean drinking water in FY21.
The Bank remains the only Indian Founding Signatory to the Principles for Responsible Banking – the first global framework enabling banks to align their business to the objectives of the Sustainable Development Goals adopted by the United Nations and the Paris Agreement on climate change.
About YES BANK
YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody’s Investors Service and Moody’s Analytics to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services. For more information visit Moody’s ESG hub at www.moodys.com/esg