Embracing the 4R Approach to Environmental Sustainability

Digitisation of Operations

In recent years, ICICI Bank has been actively deploying digital tools and solutions for customers with the objective of providing seamless customer experience through various channels and for internal operations from digitisation of most processes resulting in enhanced productivity. These measures have also enabled ICICI Bank to minimise CO₂ emissions and preserve trees by reducing paper usage across operations.

In fiscal 2025, we increased the coverage for our pre-print forms stationery to FSC-approved recycled paper, making 79% of the Bank’s paper use sustainable at March 31, 2025. We had shifted to the use of Forest Stewardship Council (FSC) recycled paper for pre-print forms used at business centres and by customers in fiscal 2024.

Other key initiatives include:

This amounted to 129.6 tonnes of A4-size paper and was equivalent to saving 2,203 trees, resulting in the abatement of emissions of 234.5 tCO_2e.

One tonne of A4-size paper saves approximately 17 trees. The Indian Pulp & Paper Technical Association (IPPTA) estimates the CO₂ emission intensity for the Indian paper industry at 1.58 mtCO_2e per tonne of paper. ISO 14001:2015 lays down the requirements for an environmental management system. ISO 45001:2018 outlines an organisation’s commitment to the health and safety of its employees.

Energy Conservation

Energy conservation is a cornerstone of ICICI Bank’s commitment to environmental sustainability. We implement targeted initiatives to optimise energy use across our offices, business centres and operational facilities. Our approach includes the installation of energy-efficient equipment, capacity optimisation, and meticulous predictive as well as preventive maintenance to manage energy consumption.

A key energy-efficient focus in our strategy is the systemic replacement of ageing air conditioning (AC) units with newer, more energy-efficient better star-rated models available in the market. This ensures optimal energy utilisation and reliable uptime with an eye on environmental responsibility. Further, we monitor energy usgage across several key performance metrics and take corrective measures to eliminate wastage.

Investing in Green Buildings

A crucial aspect of our strategy is to improve sustainability by investing in green buildings and making the workplace socially inclusive. It is estimated that the built environment is responsible for nearly 40% of global energy-related CO₂ emissions. To minimise our carbon footprint, we adhere to the standards prescribed by Indian Green Building Council (IGBC), progressively increasing the portfolio of IGBC-certified spaces. IGBC certification evaluates multiple parameters including energy efficiency, renewable energy integration, water conservation, waste management, indoor air quality, and sustainable material sourcing.

In fiscal 2025, we expanded our green building footprint with the addition of four sites, covering a total area of 72,000 sq. ft. Among these, three premises received IGBC ‘Platinum’ certification, and one earned the ‘Gold’ rating.

As part of our commitment to green building initiative, we actively promote the adoption of energy-efficient lighting and equipment across all locations. A range of capacity optimisation tools further enhances energy efficiency at our sites. We leverage IT-enabled systems to record, monitor, audit and benchmark energy use at most of our premises. Moreover, our focus extends to conserving raw materials, optimising asset utilisation and minimising waste through the lifecycle of the equipment we use. To achieve this, we invest in inverter-based and Variable Refrigerant Flow (VRF) air conditioning units, modular Uninterruptible Power Supply (UPS), and Energy Star labelled IT machines.

These initiatives and investments significantly contribute to a reduction in the Bank’s connected load per sq. ft.—the total energy consumption by all electrical devices linked to the power supply. Over the last nine years, ICICI Bank successfully reduced the connected load per sq. ft. by almost 40%.

Enhancing Renewable Energy Usage

To advance ICICI Bank’s carbon neutrality goal for 2032, we are consistently taking measures to access renewable energy (RE) at our premises and reducing carbon emissions. In fiscal 2025, the adoption of RE increased to 38% of our total energy consumption, up from 35% in fiscal 2024. This growth is driven by renewable energy sourced from the grid, solar panels installed on-site, and through purchase of 11,000 International Renewable Energy Certificates (IRECs). The sources of RE underlying the IRECs were a mix of solar and wind generation in India.

IRECs are globally recognised instruments that allow organisations to transparently demonstrate their adoption of renewable energy. They help organisations to achieve Scope 2 carbon emission reduction targets through offset mechanism while contributing to the expansion of renewable energy worldwide.

Our purchase of IRECs, combined with renewable energy generation and procurement through green tariff mechanism, has raised the Bank’s total adoption of RE to 92 million kWh.

Scope 1, Scope 2, and Scope 3 Emissions

During fiscal 2025, the Bank’s total Scope 1* and 2^# emissions increased by 16.0%. India experienced extreme heatwaves in the northern parts during the year, which resulted in higher electricity demand for cooling, and in turn contributing to GHG emissions. In addition, there was an increase in the geographical spread of the Bank’s footprint, with addition of business centres and offices during fiscal 2025.

Similar to fiscal 2024, in fiscal 2025, reasonable assurance of BRSR Core parameters was conducted by Grant Thornton Bharat LLP as part of publishing the SEBI mandated Business Responsibility and Sustainability Report.

Evaluation of Bank’s Scope 3^{^} emissions in own operations was further expanded in fiscal 2025 to include: capital goods (category 2), fuel and energy related activities (category 3), upstream transportation and distribution (category 4), waste generated in operations (e-waste) (category 5), business travel (category 6), employee commuting (category 7) and downstream transportation and distribution (category 9). Total Scope 3 emissions in fiscal 2025 was 133,459 tCo_2e. The Bank’s endeavour is to follow the principles of GHG Protocol for the inventorisation of the emissions.

Total Scope 3 emissions in fiscal 2024 was 161,250 tCO_2e. This included: capital goods (category 2), business travel (category 6) and employee commuting (category 7).

The source for emission factors were different for certain categories in fiscal 2025 compared to previous year(s) and hence are not comparable.

Scope 1* emissions include CO₂ emissions from the combustion of fuel in diesel-generating (DG) sets and company-owned vehicles, emissions due to loss of refrigerants and emissions due to CO₂ based fire extinguishers. The spend-based approach has been adopted to estimate emissions from DG sets. Accordingly, the annual average diesel price in the country has been applied on total expenses on procurement of diesel to estimate the quantity of diesel consumed. The emissions from refrigerants, fire extinguishers and owned vehicles are based on actual consumption. The source of emission factor for diesel and CO₂ used in fire extinguisher is Intergovernmental Panel on Climate Change (IPCC), and for refrigerants is US Environment Protection Agency (US EPA).

Scope 2^# emissions are due to electricity purchased from the grid. The estimation is based on actual consumption of electricity, and using the grid emission factor for electricity generation including renewable energy for the respective year, published by the Central Electricity Authority, India.

Scope 3^{^} emissions are indirect emissions from the Bank’s value chain. The approach for arriving at the emissions is summarised as follows:

tCO_2e - Tonnes of carbon dioxide equivalent 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.

Waste Management

ICICI Bank implements robust waste management practices to ensure responsible disposal of waste across most of its premises. We have a robust process for handling waste, including composting organic waste in large premises. E-waste is recycled through authorised agencies in compliance with national and local regulations. We remain committed to further strengthening our waste management practices to enhance resource conservation and minimise environmental impact.

Occupational Health and Safety

As part of its commitment to employee well-being, ICICI Bank obtained Occupational Health & Safety certification as per ISO 45001 standard for three additional premises in fiscal 2025. With this, the total certified offices have increased to 21. These include service centres, phone banking centres, data centres and regional offices.

At March 31, 2025, these sites accommodated about 30,000 employees, representing about 23% of ICICI Bank’s workforce.

Further, ICICI Bank conducted emergency evacuation drills across 100% of its Business Centres. Health and safety training is provided to all employees as part of their induction programme.

About ISO 45001 The Occupational Health & Safety Standard ISO 45001 certification is an internationally recognised standard for workplace health and safety, ensuring a systematic approach to hazard assessment and risk control. The certification is valid for three years.