ICICI Bank is a responsible corporate committed to building a sustainable future through focussed initiatives and interventions. It has a well-structured Environmental, Social and Governance (ESG) framework to drive its sustainability efforts and enable long-term growth.
Our ESG Policy is approved by the Board of Directors and covers all the important facets of sustainability. The Board Risk Committee is responsible for oversight of this policy. The Committee periodically reviews the Bank’s action plan on various aspects of ESG, external reporting and stakeholder feedback.
During fiscal 2023, we continued to
advance in our ESG journey by undertaking
relevant initiatives aimed at building
a sustainable and responsible business.
The Bank’s focus on environmental, social and governance (ESG) area is anchored by a dedicated team and guided by an executive-level ESG Steering Committee under the oversight of the Risk Committee of the Board of Directors.
Water harvesting potential created annually
Schools benefitted from rainwater harvesting
Restoration of water bodies
Water saved annually through System of Rice Intensification (SRI) and Alternate Dry and Wet (ADW) sustainable farming methods
In fiscal 2023
Since inception
Renewable energy used in fiscal 2023 in own premises
IGBC certifications for Business Centres (branches) and offices covering 4.42 million sq. ft. area, a little over one-third area of the Bank
Carbon emission reduced per Full Time Equivalent (FTE) employee from fiscal 2022 to fiscal 2023
Schools were solar powered with a total capacity of 5 MW in fiscal 2023
tCO2e – Tonnes of carbon dioxide equivalent. It is a standard unit for counting GHG emissions
One Full Time Equivalent (FTE) employee = One full time employee working on a full time schedule over the year
Indian Green Building Council (IGBC) certification is assessed on the key metrics of energy efficiency, use of renewable energy,
Across all states and union territories since inception
Healthcare
Livelihood
Societal Development
Committed to Tata Memorial Centre (TMC) in June 2023 to set up three new buildings for cancer care and equip them with state-of-the-art machines
Patients will be treated annually, doubling the capacity of these centres
Individuals supported for availing treatment in fiscal 2023
Hospitals supported till March 31, 2023
Independent Directors
Executive Directors
Independent Directors
They constitute the majority on most committees
They chair most committees
Performance evaluation of Board, Committees and Directors by independent external agency
Set up a dedicated ESG team to lead ESG and CSR initiatives; regular updates on the ESG actionables and progress provided to Risk Committee
Developed a Framework for Sustainable Financing; the Bank's outstanding Sustainable Financing portfolio was ₹556 billion at March 31, 2023
Introduced the Suppliers’ Code of Conduct
Set guidelines for green procurement in own operations
Limited assurance undertaken for Scope 1 and Scope 2 emissions
Multiple levels of management oversight with ultimate responsibility lying with the Board of Directors
External review of privacy maturity assessment in fiscal 2023 placed the Bank’s data privacy practices above industry benchmark
Benchmarking assessment put the Bank’s cybersecurity posture at par with global banks
'Fair to Customer, Fair to Bank'
One Bank, One Team
Return of Capital is Paramount
Agile Risk Management
Compliance with Conscience
At ICICI Bank, we are playing our part in contributing to the NDCs and the UN SDGs through our business and corporate social responsibility activities. Our presence across the length and breadth of the country gives us the opportunity to bring about meaningful change and with long-term benefits.
In fiscal 2022, the Bank conducted its first materiality assessment exercise to identify key material topics for ourstakeholders and business. Our five-step approach for assessing material issues involved:
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
2022-23
India’s national bird, Peacock, symbolises not just majestic beauty but the power of regeneration and reinforcement. The Peacock’s ability to shed its old feathers and grow new ones naturally is a metaphor for revitalisation. It resonates with ICICI Bank’s environmental, social and governance agenda, with its reinforced and responsible focus on sustainable development of the next generation of Indians.
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