According to V.E, a division of Moody's ESG Solutions, YES BANK is ranked among the 100 Best Emerging Market Performers. From December 2017 to June 2019, it was initially featured in the V.E ranking and now it is the only Indian Bank that continues to maintain its ranking. The ranking has been achieved based on the "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," according to the news release of Yes Bank.
"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," according to the media release of the bank issued on 18th August 2021.
"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," Niranjan Banodkar, Chief Financial Officer, YES BANK, acknowledged on the achievement.
"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." according to the media report.
"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," according to the media release of the lender.
The press release has further mentioned that "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."
On the other side, Yes Bank has also partnered with WheelsEMI Pvt Ltd to provide two-wheeler loans at competitive interest rates. According to a press statement released by the bank on August 23, 2021, both firms intend to finance over 1 lakh two-wheelers in the first phase of the partnership. To know more about the joint offering, please click here.