ICICI ESG Report - Financing with a Focus on Sustainability

Financing with a Focus on Sustainability

At ICICI Bank, we follow responsible financing practices by laying emphasis on environmental and social risk management. The Bank’s ‘Social and Environmental Management Framework’ integrates the analysis of the environmental impact of a proposed project and the assessment of its social risks, into the overall credit appraisal process. The assessment involves mapping with an exclusion list, seeking confirmation from borrowers towards applicable national environmental guidelines and approvals for qualifying proposals subject to threshold criteria defined in the framework. It also includes conducting of due-diligence by a Lender’s Independent Engineer (LIE) for largeticket project loans identified as per the criteria defined in the framework.

The Bank’s outstanding portfolio to the renewable projects encourages capacity creation in sectors that are environmentally and socially responsible. We have financed projects for capacity creation in renewable energy sectors like solar, wind and hydro power and other sustainable sectors like waste processing and mass rapid transport. The Bank’s outstanding portfolio to the renewable energy sectors is approximately ₹31.5 billion as on March 31, 2021.

In addition, the Bank has availed lines of credit from multilateral agencies towards financing green and sustainable assets. The projects financed under these lines include financing for wind, solar, biomass plants and energy efficiency projects. Cumulatively as on March 31, 2021, we had extended credit for such specific purposes that amounted to about USD 70.77 million.

Further, the Bank has a dedicated internal group to identify and grant financial assistance to projects that promote biodiversity, environmental sustainability and initiatives in education, health, sanitation and livelihoods. The group disburses and manages funding lines received by the Bank from various bilateral and multilateral agencies and the Government of India. Our efforts include identifying the relevant projects and extending financial assistance either directly or through a collaboration. We also help the projects by sharing our expertise and knowledge with them.

Read Less

Assisting Projects with a Focus on Sustainability

Some of the key projects to which ICICI Bank facilitated grant assistance in fiscal 2021 are mentioned below:

We have supported the setting up of two clusters of 10 schools each in the Himalayan belt of Uttarakhand and Sikkim. These clusters are expected to serve as model ecosystem hubs for promoting innovation in education. They aim to provide teachers with skills so that they can enable students to think creatively in order to find innovative solutions for real-life challenges. We expect that these model schools will produce thought leaders and serve as innovation hubs to inspire neighbouring schools to adopt new methodologies in education.

A student of an innovation hub in Uttarakhand learning ‘wood craft’ using a drill machine

Geriatric eye care centre

Hyderabad Eye Institute (HEI) is a registered public charitable trust that provides holistic eye care to patients. In the latter half of fiscal 2021, we have facilitated financial assistance to establish an exclusive geriatric care centre for the elderly at HEI’s L. V. Prasad Eye Institute in Bhubaneswar, Odisha. The 10,000 sq. feet facility will house a rehabilitation centre for the elderly. It will also provide home care and telemedicine facilities as well as outpatient, diagnostic and surgical services. The centre will also focus on training personnel in elderly care.

A patient being examined at the eye care centre at HEI L.V. Prasad Eye Institute in Bhubaneswar, Odisha

Empowerment of tribal women

Jagat Janani Mahila Swayam Sahayata Bachat Gat is a public trust, which is managed by women members, in Mansudhawadi, a tribal village in Amaravati district in Maharashtra. We have assisted the trust with a financial grant for implementation of sustainable agriculture and livelihood, and empowerment in 20 villages of the taluka. The activities of the trust are expected to lead to environment-friendly, socio-economic upliftment of the people in these villages and also reduce migration of villagers during the dry season to urban areas in search of livelihood.

Watershed development

Gramin Samassya Mukti Trust is a not-forprofit society and a trust in Yavatmal district of Maharashtra that addresses livelihood issues of the tribal community. We have sanctioned a grant assistance for development of watersheds and plantation in four villages of Maregaon block of Yavatmal district in Maharashtra. This project will benefit about 300 tribal farmers of four villages. An area of 200 hectares of land will be brought under protective irrigation and treated for water and soil erosion. This intervention is expected to usher in long-term ecological benefits by increasing water level, reducing soil erosion, enhancing crop production and positively impacting income of the farmers.

Canal deepening and widening work under the Watershed Development Project in Yavatmal district, Maharashtra

Other projects assisted with a grant or
financially assisted by ICICI Bank

Women Resource Centers in Uttarakhand

Beneficiaries of the Women Resource Center (WRC) at Naraya village in Dehradun district, Uttarakhand. Four WRCs have been set up with grant assistance provided by ICICI Bank. (Picture taken in 2019)

Financing with a Focus on Sustainability

Assisting Projects with a Focus on Sustainability

Other projects assisted with a grant or financially assisted by ICICI Bank

Other projects assisted with a grant or
financially assisted by ICICI Bank