India’s fifth largest private bank, Yes Bank has exhibited landmark growth since their inception in 2004. Another feather was added to their cap after it became an official supporter of the Natural Capital Declaration (NCD) and the first ever organisation to host a completely carbon neutral ‘Natural Capital Awards’, partnering with the country’s Ministry of Environment, Forest & Climate Change. Yes Bank has always been deeply committed to the social and environmental development of India. With this grand initiative, this institution has truly set an unprecedented example before the financial community of India how robust growth, and sustainable development can go hand in hand, and thus, paved way for a revolution financial green economy in the Indian market.
Natural Capital is the intangible and tangible stocks of the planet’s natural resources such as local geology, soil, air and water resources as well as the all living beings occupying these. With the present state of our planet, and economic progress businesses are experiencing at the cost of our natural assets, it is high time that every organisation invests towards conservation of our natural capital.
The brainchild of visionary banker, Rana Kapoor, Yes Bank was among the financial institutions of 30 supporter organisations and 40 signatories to the Declaration. They have offered their expertise, provided all sorts of support and resources, as well as shared their valuable input on managing stakeholder interests for sustainable development of accounting, disclosure and reporting frameworks, which has incorporated into natural capital considerations to devise effective conservation strategies.
Rana Kapoor On Yes Bank and its initiatives in Natural Capital Declaration
With the depleting resources and climate change scenario, the need for conservation of natural resources was at its highest urgency. On this revolutionary endeavour taken up by the organisation Rana Kapoor remarked, “Natural capital considerations should be at the epicentre of all business and financial decisions. At YES BANK we firmly believe that the financial sector needs to take a leadership role in promoting the transition towards natural capital accounting and this can not only be evidenced by our on-going involvement with the NCD”. This was indeed a game changing green initiative, that went beyond CSR.
Focus on sustainable development and conservation of natural resources and biodiversity have always held a top priority for Rana Kapoor, who has left no stone unturned to reduce his organisation’s environmental footprint. It is one-of-a-kind financial institution, that has been constantly working on green initiatives, launching parallel campaigns, while experiencing landmark financial success as well. With campaigns such as ‘Say YES to Save Our Pride – The One-Horned Rhino’, ‘Say YES to Save the Godawan’ and ‘Say YES to Red Panda Conservation’, among others, Yes Bank has already established itself as a leading force for environmental conservation.
Ever since its inception, this bank is one-of-a-kind institution that has been playing a key role in building a unique concept of progressive ‘green finance’ in the country. Their commitment towards promoting sustainable growth is seen in their policies that help embed a wide economic, social and environmental development across the urban, as well as rural sector. Yes Bank has actively addressed regulation barriers and advocated for improved policies and financial instruments, thus establishing its role as a leading contributor to India’s green market movement. While maintaining a consistent and active focus on ‘Sustainable Economy’, this bank has experienced unprecedented business growth, thus building a strong brand value, and investor confidence. Rana Kapoor, the visionary behind the institution, with his extensive experience of international green finance has partnered with a wider range of stakeholders, such as government and civil bodies, national and international corporate, multilateral and environmental organisations to work upon climate and environmental advancements in India. It was the first Indian bank to issue green infrastructure bonds, the first Indian banking signatory to the UN Global Compact, UNEP Finance Initiative, Carbon Disclosure Project and the Natural Capital Declaration
Yes Bank have been and still is truly a revolutionary organisation, leading the way towards a better and more effective sustainable financial market, and a greener India.