ESG INITIATIVES OF INDIAN PRIVATE BANKS - A CASE STUDY OF ICICI BANK

Abstract

Businesses are increasingly paying closer attention to a company's capacity to influence social and environmental change in a positive way. In addition to helping a company, identify risks and opportunities that could affect its long-term success, sustainability reporting is essential because it can increase transparency and boost a company's reputation. Environmental, social and governance (ESG) issues, as well as the opportunities and constraints that arise along with them, are of increasing relevance to financial institutions. Banks are essential for promoting overall sustainable development since they act as a funding intermediary for fiscal and development programmes. Through ESG reporting, investors can assess a company's environmental, social and corporate governance policies and how these aspects are governed. ICICI Bank is one of such financial institutions that routinely reports on sustainability. This case study aims to look at ICICI Bank's sustainability reports and annual reports for the fiscal years 2019-2020 to 2021-2022 in order to explore the significant ESG initiatives and the level of important ESG disclosures made by the company. SWOT (strengths, weaknesses, opportunities and threats) analysis has also been conducted in order to evaluate the factors affecting ESG performance. Based on the findings, ICICI Bank is in the process of implementing sustainable business practices that promote the organization's long-term sustainable performance that have an advantageous influence on both the environment and society. Through business strategies and moral corporate conduct, the bank strives to promote long-lasting and sustainable economic growth.