BETTER BANKING WITH ESG

ICICI Bank's early initiatives included digitisation to reduce paper usage, improving energy efficiency, and encouraging sustainable operations

- RAHUL OBEROI

IN A WORLD increasingly shaped by climate urgency and environmental, social, and governance (ESG) needs, ICICI Bank has emerged as a sustainability frontrunner in the domestic banking sector. Its holistic approach—spanning responsible lending, sustainable business practices, and digital transformation—has earned it the Business Today Sustainability Leadership Award in the BFSI category for the banking sector. The bank's journey toward sustainability began long before ESG became a buzzword. “ICICI has been in the service of the nation for the last 70 years,” says a spokesperson from the bank. “In these seven decades, we've consistently aligned our goals with India's economic and societal progress.” A significant milestone came in 2008 with the establishment of the ICICI Foundation for Inclusive Growth, aimed at deepening the bank's impact on social and environmental development.