Case study: How YES BANK works with its clients and customers to encourage sustainable practices

YES BANK is a premium, customer-focused, service-oriented financial institution supporting the emerging businesses of India. It has evolved into a full-service commercial bank, providing a wide range of products and services to its corporate, MSME, and retail clients. As the sixth-largest private sector universal bank, YES BANK offers an extensive array of products and services through its nationwide network of 1,234 branches, 219 Business Correspondent Business Outlets (BCBOs), and 1,290 ATMs (including CRMs and BNAs) across more than 300 districts in India. YES BANK is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities. Tweet This!
This case study is based on the 2023-24 PRB Reporting and Self-Assessment Template by YES BANK prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
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- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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- How YES BANK proceeded with stakeholder identification and consultation, and
- How YES BANK worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
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Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
YES BANK interacts with a diverse range of stakeholders who are vital to its journey of creating value. The bank has identified nine key stakeholder groups, including Investors, Employees, Regulatory Authorities, Competitors, Customers, and Communities. It maintains ongoing engagement and consultation with these stakeholders through a mix of structured and need-based mechanisms to address concerns and incorporate their feedback into its overall business strategy.
Additionally, YES BANK monitors market trends, ESG frameworks and standards (such as TCFD, CDP), ESG ratings, and participates in the ESG Steering Committee of the Indian Banks Association to advance sustainability within the banking sector.
YES BANK continues to engage with its stakeholders through various predefined, structured, and need-based initiatives.
Stakeholders
Some notable engagement activities include knowledge reports, policy advocacy for fostering an enabling ecosystem, and support through YES BANK’s Knowledge Banking Approach, which encompasses:
- Sustainable Finance Unit with a strategic focus on ESG
- Specialized Corporate & Government Advisory (CGA)
- Food & Agribusiness Strategic Advisory Research (FASAR)
- Business Economic Banking (BEB)
How did YES BANK work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023-24 PRB Reporting and Self-Assessment Template YES BANK reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
YES BANK is dedicated to fostering a sustainable and responsible relationship with its clients and customers, as reflected in its “Code of Bank’s Commitment to Customers” and “Charter of Customer’s Rights.” The bank aims to deliver superior and seamless customer service to strengthen its service offerings.
Furthermore, YES BANK works with and supports its customers in adopting sustainable practices through innovative products, initiatives, and its Knowledge Banking Approach.
- Innovative Products/Instruments: Green Bonds
- Environmental and Social Policy: YES BANK conducts thorough due diligence in line with the Equator Principles and IFC Performance Standards. It develops time-bound corrective action plans with corporate clients identified as carrying significant ESG risks, encouraging them to adopt sustainable practices aligned with higher ESG industry standards.
- Awareness Initiatives: Financial literacy programs
- Knowledge Banking Approach:
- Sustainable Finance Unit with a strategic focus on ESG
- Specialized Corporate & Government Advisory (CGA)
- Food & Agribusiness Strategic Advisory & Research (FASAR)
- Business Economic Banking (BEB)
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
FBRH Principles for Responsible Banking (PRB) Assurance:
First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience
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- FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
- FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
- FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.
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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by YES BANK, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
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