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SBI set to measure carbon risk of its ₹33 trn loan book
Business Standard
|August 26, 2023
State Bank of India (SBI), the country's largest lender, has drawn up plans to measure the carbon footprint of its ₹33 trillion loan portfolio at the account level. The initiative is aimed at mitigating climate risks and providing sustainable financing.
PUSH FOR SUSTAINABLE FINANCING
The lender will begin with an assessment of the carbon impact of its loans to large enterprises. These companies usually have formal policies and commitments for climate risks and sustainability. However, the bank will not just rely on the submissions made by such customers but will do due diligence regarding steps taken on the ground for climate and carbon risk goals, a senior executive of the bank told Business Standard, requesting anonymity.
The ambit of carbon footprint assessment would be expanded in the long term to include retail and micro, small and medium enterprises, the executive added.
This story is from the August 26, 2023 edition of Business Standard.
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