Task Force on Climate-related Financial Disclosures (TCFD) Index
| Section | Recommendation | Summary | Refer Page Number |
|---|---|---|---|
| Governance | a) We describe the Board's oversight of climate-related risks and opportunities |
The Bank has a Board-approved ESG Policy
which includes the ESG Policy statement,
our Vision, our Mission, our ESG Philosophy,
the ESG governance structure and key focus
areas. The Policy is subject to annual review
and is available on the Bank’s website. The Board has authorised the Risk Committee to oversight the Bank’s action plan on various aspects of ESG, external reporting and stakeholder feedback. ESG-related areas that are within the purview of other Board Committees continue to be overseen by the respective Committees and updates relevant to ESG in these areas are presented to the Risk Committee. Updates are provided to the Risk Committee twice a year and annually to the Board. |
27-32 |
| b) We describe the management's role in assessing and managing climate-related risks and opportunities | Identification and implementation of ESG-related initiatives are undertaken by the ESG Steering Committee comprising senior representatives of various functions within the Bank. The ESG Steering Committee is chaired by the Group CFO. A dedicated team within the Group CFO’s span, is directly responsible for formulating and coordinating the Bank’s action plan on ESG and provides regular updates to the ESG Steering Committee. | 27 | |
| Risk Management | a) We describe the Bank's processes for identifying and assessing climaterelated risks |
The Bank has formulated a Climate Risk
Management Framework for integration of
climate risk into the overall risk management
framework and to provide guidance on
assessing the impact of climate change on
the Bank's own operations due to physical risk
events. Additionally, it guides in identifying
and analysing the impact of both physical and
transition risks on the lending portfolio. The Bank’s Social and Environmental Management Framework requires analysis of specific environmental and social risks as part of the overall credit appraisal process for assessing new project financing proposals. |
29-33 |
| b) We describe the Bank's processes for managing climate-related risks |
With regard to credit risk management,
borrowers are evaluated based on their
responses to checklists designed to assess
ESG maturity and ESG risk of their business
models resulting in an overall ESG rating. For its own operations, as part of business continuity management, the Bank conducts periodic assessment of potential impact of simultaneous happening of extreme natural disasters on key primary and alternate locations including data centres and operations hubs. |
29-32 | |
| Metrics & Targets | a) Our Scope 1, Scope 2 and Scope 3 operational greenhouse gas (GHG) emissions and the related actions being taken |
The Bank measures its operational Scope 1, Scope 2 and some categories of Scope 3 emissions and reports these with disclosure on the methodologies and the climate emission factors used. The Bank is making interventions like afforestation, conserving forest ecology and biodiversity, water rejuvenation and conservation through its CSR initiatives to make a positive impact on environment. Additionally, investments are being made in own operations for improving efficiency in energy and water use, embracing circularity related to waste management through responsible disposal and encouraging water recycling. |
44-48, 33, 27-28 |
| b) Our target used to manage carbon footprint in own operations |
We have set ourselves the goal of becoming carbon neutral in Scope 1 and 2 emissions from our own operations by fiscal 2032. The Board tracks progress and is reported as part of the ESG report. |
28 |
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