HDFC Bank spent Rs 634.91 crore towards #Parivartan, the umbrella programme for all Corporate Social Responsibility initiatives, in FY 2020-21. Out of Rs 634.9 crore, over Rs 110 crore was allocated and utilised towards initiatives focused on Covid-19 relief. Further, the bank’s #Parivartan has cumulatively impacted over 8.5 crore lives across India.
#Parivartan focuses on following identified areas:
- Rural Development
- Promote Education
- Skill Training and Livelihood Enhancement
- Healthcare & Hygiene
- Financial Literacy and Inclusion
HDFC Bank pledges to become carbon neutral by FY32 by:
- The Bank aims to reduce its emissions, energy and water consumption.
- Incorporate and scale up use of renewable energy in banking operations.
- Focus on offering loans for green products at differential interest rates.
- Incorporate ESG scores while making credit decision.
“As India’s largest private bank, we are humbled to have been able to make a difference in the lives of people, in a year that was difficult for many,” says Ms. Ashima Bhat, Group Head – Business Finance, Strategy, Administration, Infrastructure, ESG & CSR, HDFC Bank. “HDFC Bank focuses on long-term sustainable initiatives that address the root cause of the problem as against any short-term relief. In a year that saw restrictions of many kinds due to Covid-19, the HDFC Bank team, including NGO partners, worked harder to remain committed to these initiatives and project goals. I want to take this opportunity to applaud them for their dedication. In the new FY, we’ll continue the work with a renewed vigour.”
The bank’s social initiatives are aligned with United Nations (UN) Sustainable Development Goals (SDGs). The Bank’s efforts under Sustainability and social change are in sync with the SDGs outlined by the UN. The Sustainability element in the Integrated Annual Report outlines the work undertaken by the Bank by engaging with the communities to work on reducing poverty, achieving zero hunger, providing clean water & sanitation, quality education, and creating sustainable cities and communities to name a few.