YES Bank commits $5 bn for climate action in India

Yes Bank has announced mobilisation of USD 5 billion towards its commitment to climate finance in India.

• Goal: To limit the rise in global temperatures to less than 2 degree Celsius through a common agreement.
• Target: Funding 500 MW clean energy annually, which it had overachieved.
• The bank’s USD 5-billion mobilisation target from 2015 to 2020 will be done through lending, investing and raising capital towards mitigation, adaptation and resilience.

To help achieve India’s target of meeting its Intended Nationally Determined Contributions (INDCs), the bank also set a number of its own targets for 2020:

• Target funding of 5,000 MW of clean energy
• Gradually increase percentage of renewable energy in the power portfolio, contribute towards creating a carbon sink by planting 2 million trees
• Touch 100 million lives through its safe and clean drinking water program and offset carbon emissions of the bank’s operations.

Recent: YES Bank also signed anMoU with London Stock Exchange Group (LSEG) to collaborate on bond and equity issuance, with focus on developing green infrastructure.

Yes Bank Keys:
India’s fifth largest private sector bank
CEO and managing director – Rana Kapoor
Headquarters – Maharashtra