About the Report

Sustainability is integral to ICICI Bank’s philosophy and is embedded in each of its business functions. The Bank continues to take-focussed initiatives to drive its sustainability journey. It also has in place a robust Environmental, Social and Governance (ESG) framework to steer its efforts towards sustainability. Our ESG Policy, which is approved by the Board of Directors, covers all the key aspects of sustainability. The Risk Committee of the Board is entrusted with the responsibility of maintaining policy oversight. It also has the mandate to review the Bank’s action plan on various aspects of ESG, external reporting and stakeholder feedback on a periodic basis. Our ESG philosophy focusses on ensuring sustainable business practices by integrating responsible corporate citizenship into business with the objective of creating a sustained positive impact on the environment and society. Our ESG framework is aligned to the United Nations Sustainable Development Goals (UN SDGs). It directs us to pursue environment-friendly practices in our business operations. We undertake various targeted ESG programmes and initiatives with the objective of transforming the lives of underprivileged Indians and empowering them through livelihood promotion. We follow the highest standards of corporate governance in all our dealings and remain committed to ethical and transparent business conduct.

Milestones of Fiscal 2024

During fiscal 2024, we continued to make strides in our ESG journey through multiple initiatives. Our efforts in managing emissions from our own operations has given us the confidence to set a goal of becoming carbon neutral in Scope 1 and Scope 2 emissions by fiscal 2032. Our environment conservation efforts were centred around ecological and wildlife conservation in forests, plantation, water management and generation of solar power. Our livelihood generation projects for the communities in the areas around the forests helped to empower tribals and local people. Our efforts in the social arena spans several initiatives from health, safety and well-being of employees, engagement with our customers and society at large. Under our corporate social responsibility activities, extensive work has been done in areas of healthcare, livelihood and societal development. Our governance focus in fiscal 2024 was aimed at enhancing accountability towards all our stakeholders, including customers, employees and the communities. We are investing in ESG data architecture to enhance its monitoring and reporting. For further queries about the report, please contact esg@icicibank.com