Managing Environmental Footprint

We, at ICICI Bank, are conscious of how our operations impact the environment. We are, therefore, focussed on managing our environmental footprint. We have incorporated several changes to our operations in this endeavour. These include optimising energy consumption, reducing wastage of resources, and making sure to recycle and reuse. We believe that by integrating the idea of preserving the environment into our business paradigm, our work can have a positive impact. This is particularly important as we conduct business across the country.

Building sustainable, eco-friendly workplaces

As on March 31, 2021, 11 of our offices spread across 2.28 million sq. ft., have been certified with a ‘Platinum’ rating by the Indian Green Building Council (IGBC).

A rooftop solar plant of 21 KWp capacity installed at ICICI Bank’s branch at Udaipur University, Rajasthan

The environment management system of ICICI Service Centre in Mumbai is both OHSAS 18001:2007 and ISO 14001:2004 certified

ICICI Bank office at Jaipur, Rajasthan received the CII National Award for Excellence in Energy Management 2020

Our environment conservation strategy is focussed on building and maintaining green places of work. Keeping in mind our widespread operations, we have undertaken several initiatives to reduce our carbon footprint. Each of these initiatives is based on our core ethos. This are to Reduce, Reuse, Recycle while increasing the efficiency with which we operate.

Our initiatives are focussed on:

initiative-focus

This is the highest possible rating and has been awarded to us for various categories. The rating system used by Indian Green Building Council (IGBC) assesses the sustainable practices and solutions a building uses to reduce detrimental impacts on the environment. IGBC awards these ratings based on the assessment of energy efficiency, use of renewable energy, water conservation, waste management, indoor air quality and sustainable sourcing of material used.

We have ensured that all of our new office premises and branches that have been set up over the past three years follow IGBC green standards as far as possible.

As on March 31, 2021, we have over 100 employees who have qualified to be IGBC accredited professionals. This is indicative of our commitment to build internal capability to ensure consistency and sustainability in our initiatives.

Additionally, we have adopted practices for environment conservation activities in conformity with the ISO-14001 standard - International Organisation for Standardisation - for environmental management systems. The health and safety systems at 13 large offices of the Bank have been OHSAS 18001:2007 certified. For instance, the environment management system of ICICI Service Centre at Bandra-Kurla Complex, Mumbai is both OHSAS 18001:2007⁶ and ISO 14001:2004⁷ certified.

In fiscal 2021, the Bank has received nine awards in energy management, recognising our efforts in energy efficient practices in our operations.

ICICI Bank offices won coveted awards for energy management

awards-for-energy-management

6. OHSAS 18001:2007 is an international standard for environmental management, applicable to all companies in business. It is an international certification that shows an organisation’s commitment to the health and safety of its employees.
7. ISO 14001:2004 is an international standard that specifies requirements for an effective environmental management system (EMS).
8. CII - Confederation of Indian Industry
9. NCR - National Capital Region
10. Uttar Pradesh New & Renewable Energy Development Agency is a part of the Department of Additional Sources of Energy, Government of Uttar Pradesh
11. Above 100kW – ICICI Bank was declared winner at the third position

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The Bank is committed to energy efficiency and is always seeking to adopt environment– friendly practices in its operations. Our efforts include adopting--energy efficient practices, green features at premises, water conservation measures and paper saving.

Our strategy to manage our environmental footprint is based on efficient usage of energy with a focus to manage and conserve it. The Bank’s concerted and continuous, multipronged efforts have led to a reduction in energy consumption in its operations. Our energy conservation strategy focuses on three areas to help us achieve our energy goals. They are improvement of existing energy efficiencies, investment in superior design and technology and adoption of renewable energy.

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ICICI Bank ensures that water consumption at its large offices is lower than the benchmark. We have undertaken various initiatives to conserve water. We recycle and reuse waste water at three large offices including ICICI Bank Service Centre at Bandra Kurla Complex, Mumbai. All new offices and branches opened during fiscal 2021 were fitted with water efficient plumbing fixtures. Rain water harvesting is being undertaken at three large offices.

Integral to our initiatives focussed on managing our environmental footprint are a focus on waste reduction and management. We constantly aim to minimise the waste we generate with our operations. We also aim to decrease the waste we send to landfills. This is in line with our philosophy of ‘Reduce, Reuse and Recycle’.

At ICICI Bank, a majority of our waste is wet waste, dry waste, and e-waste. We make use of several initiatives in order to manage the same effectively.

ICICI Bank is a pioneer in digitisation and adoption of emerging technologies in banking. Our initiatives encompass digital re-engineering of our operations that provide us with an opportunity to manage our environmental footprint, while creating superior and delightful banking experiences for our customers. We believe that encouraging customers to adopt digital practices not only helps in improving efficiency and reducing servicing time, but also helps create a positive impact on the environment.

A large focus of our digitisation measures have been geared towards saving paper. We have moved a large number of our services to the digital platform. These services include opening a bank account with ICICI Bank and applying for a loan along with other regular banking transactions. During the fiscal, we also enabled digitisation of high volume service requests on our mobile and internet banking platforms. This has led to 98% of nomination updates, 60% of requests for change of address and 28% of ReKYC (Know Your Customer) and profile update being undertaken digitally in fiscal 2021.

Owing to our consistent communication and awareness programmes, a large number of our customers have been amenable to the idea of adopting e-statements, physical letters, and information to be sent via SMS and e-mails.

Our customer-facing digitisation efforts include an array of initiatives like digital sourcing, reduction of paper-based application forms, elimination of paper-based transaction advice slips and encouraging customers to adopt digital account statements.

Digital sourcing of retail products in fiscal 2021

digital-sourcing-of-retail-products

Over 90% of our savings account transactions in fiscal 2021 were done through digital channels, which included internet, mobile, point of sale (POS), touch banking, phone banking and debit card e-commerce transactions. We are an industry leader in digital sourcing of products.

Increasing digital adoption among our business banking customers is also indicative of our continuous commitment towards saving paper. In March 2021, 87% of payments done by our business banking customers were through InstaBIZ, our mobile banking application for businesses, and internet banking. In Q4-2021, 60% of monthly average trade transactions were initiated digitally on our Trade Online portal, indicating a significant shift to paperless transactions in a hitherto paper-intensive segment of business.

We have leveraged technology and data analytics to develop a bouquet of digital lending products that has made credit accessible and affordable for our customers. During the year, a range of loans were offered as ‘instant loans’ to a set of ‘pre-approved’ customers. These offerings were end-to-end digitally processed. For instance, with instant processes like Express Home Loans, the entire loan sanction process is facilitated in just five simple steps and in few minutes for eligible customers.

During fiscal 2021, there were significant efforts towards decongesting processes and reducing the physical movement of documents. During the pandemic, we launched the Video KYC facility, which empowered retail customers to complete their on-boarding process for savings accounts, personal loans and Amazon Pay credit cards through a contactless video interaction. With this, we do not need to take physical documents from customers and store them as the entire process is now digital. This has helped us save 200,000 sheets of A4 size paper in fiscal 2021. We have also migrated investment by retail banking customers in Government of India bonds to the internet banking channel. Nearly 70% of these investments now take place digitally, reducing significant consumption of paper.

We also procure environment-friendly copier paper which is manufactured from wheat straw, an agricultural residue. Our continuing efforts in fiscal 2021 led to savings of over 9 million sheets of paper, equivalent to saving nearly 1,100 trees and 4.5 million litres of water.²⁰

19. Percentage share is based on count of customers including those who are instantly and digitally on-boarded.

20. As per generic estimates, one tree makes 16.67 reams of paper (8,333 sheets) and around 500 ml water is required for one sheet.

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Case Study

ICICI Bank Office at Noida, Uttar Pradesh

It is our constant endeavour to aim for benchmarks in managing our enviormental footprint.This vision is reflected at Noida Sector 16, Uttar Pradesh

Case Study

Indirect-Direct Evaporative Cooling Project at ICICI Bank office, Jaipur

At ICICI Bank, efficient energy management and innovative conservation underpins our strategy of managing the Bank’s environmental footprint.