The Bank of Baroda has announced its ESG Policy on Earth Day 2025, aiming for net-zero emissions by 2057.
The ESG policy aligns with the global sustainability frameworks and reflects the bank’s commitment to responsible banking practices, mitigating ESG risks, and seizing opportunities for a low-carbon future.
The policy guides the bank’s ESG initiatives, outlining governance structure, focus areas, and ESG metrics & targets.
The ESG policy targets in a nutshell:
• Achieve net zero emissions by 2057.
• Realize a 75% reduction in Scope 1 and Scope 2 emissions by 2034.
• Ensuring Climate Risk Assessment for large credit exposures by 2027.
• Conduct employee training and capacity building on ESG and climate risk by 2027.
• Regular sensitization programs for the board and leadership team on ethical AI, cybersecurity, data privacy, ethics, and code of conduct.
The ESG pillars:
The Bank has prioritized the following areas under each of the three ESG pillars:
• Environment: Reducing emissions from the bank’s own operations, demonstrating environmental stewardship, incorporating climate risk into the risk management framework, and promoting sustainable/green finance.
• Social: Encouraging digitization, financing social inclusion, putting customer centricity first, protecting customer privacy and information security, and fostering employee growth and well-being.
• Governance: developing a culture focused on compliance; prioritizing business ethics and governance.
Efforts on World Earth Day:
Bank of Baroda plans to prioritize financing for renewable energy, aligning with Earth Day 2025’s theme, “OUR POWER, OUR PLANET.” So far, the bank has planted over 30,000 trees for every auto and home loan disbursed under its ‘Plant a Tree’ program in CY2025 to contribute to a greener planet.
A variety of sustainable finance products, including green deposits, the green hydrogen financing scheme, and the residential rooftop solar loan scheme, have been introduced by Bank of Baroda. A code of ethics that outlines the standards of moral behavior expected of staff members, suppliers, and other partners is also in place at the bank. The bank is holding a training and capacity-building workshop on “Green Financing” to raise awareness among staff members, and on Earth Day, it launched a special “BOB Earth” website to highlight its sustainability efforts.
Mr. Debadatta Chand, Managing Director & CEO, Bank of Baroda, said, “Earth Day 2025 marks a defining moment in Bank of Baroda’s sustainability journey. The unveiling of our ESG policy and our net-zero commitment is a reflection of the importance that the bank places on being a responsible corporate citizen—through contributing meaningfully to the environment, promoting social well-being, and maintaining the highest standards of governance. Our goal is to embed ESG practices into the core of our strategy and operations.”
