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ESG

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Environmental, Social and Governance

FirstEnsure PNG

Introduction

As a world-class financial institution, IDFC FIRST Bank is committed to integrating sustainability, inclusion, and governance initiatives across the enterprise. We realise that concerted action from our strong base of employees, together with our resources, can make a significant difference in the world. Towards this end, we have taken a structured approach for engaging our employees through the ‘FIRST ENSURE’ programme, our formal ESG identity. The core ethos of FIRST ENSURE is to Enable Sustainability, Responsibly. It signifies sustainability as a continuous journey, and reminds every employee to ensure that their every action is ESG compliant. It also adds a layer of responsibility, which denotes the Bank’s stance on promoting ethics, and staying away from false claims or greenwashing.

With its ESG program, IDFC FIRST Bank strives to minimize its environmental footprint, encourage responsible consumer behavior, empower its employees and communities, adopt globally-recognized corporate reporting frameworks, and support global climate action movements.

As an organization, we firmly believe that we can only succeed by being mindful of the broader impact of our activities and by consistently embedding material Environmental, Social and Governance (ESG) considerations into all that we do across the value chain. Ultimately, this will help deliver economic value for the bank’s shareholders and other stakeholders, while driving a positive impact on the economy.

Our Leaders Message

Mr. Sanjeeb Chaudhuri - Chairman

As you know, ESG has become an integral part of the business landscape in India and around the world. Our objective is to make IDFC First Bank an ESG leader in financial services by driving innovative, sustainable practices in our strategies and action plans coupled with the highest governance standards. This requires specific focus to channelize the efforts of the Bank in this direction. As a Board, we are committed to the ESG agenda as it is extremely important for the future of our country and our planet. By incorporating ESG considerations in our day to day working, we can not only create long-term value for your Bank but also contribute positively to the environment and the society in which we live.

Our dedication to ESG remains resolute. By integrating ESG considerations into our operations and decision-making processes, we want to make a positive impact on society while safeguarding the interests of our customers and all our stakeholders.

Mr. Sanjeeb Chaudhuri

Mr. V. Vaidyanathan – Managing Director & CEO

ESG INITIATIVES OF THE BANK

On ESG, our business itself is naturally ESG centred the way we think about our business, the way we treat our employees, the customer segment we operate in, all blend naturally into ESG. We set very high standards of corporate governance.

We have built a team that is passionate about sustainability, in order to achieve our mission of sustainable future for community. In making the start of ESG journey a successful one, the Bank continues to reinforce its focus on ESG performance and leadership. Further, we ensure to keep our purpose clear- straightforward enough to be understood by the entire corporate workforce for the way forward ahead.  As ESG is all about being transparent, we are working towards being more informative to help our stakeholders.

This microsite is a means of publicly documenting and disclosing our responsible management commitments, programs and performance each year. Throughout this website, you will see how we are working to generate long-term value and sustainable growth.

Mr-V-Vaidyanthan

Ms. Shikha Hora Kamdar – Head – Retail Assets & ESG

The global movement towards ESG and corporate sustainability is growing stronger every day and gaining relevance like never before. For all stakeholders, including investors, regulators, consumers, employees, supply chains, and communities, sustainability has become a non-negotiable imperative.

As a relatively new Bank, we at IDFC FIRST have had the opportunity to start things anew, break commonly held notions, and build a Bank that was meant to be sustainable from the get-go. Our SEAL – which embodies ETHICAL, DIGITAL, and SOCIAL GOOD as our core ethos, directly guides our ESG framework, goals, and sustainable value-creation model.

All our efforts and initiatives to build a growth-oriented, sustainable, and ethical organisation are powered by a highly independent and efficient governance mechanism. Led by an engaged Board and Management with a strong vision, our policies, systems, and processes continue to provide us with the necessary guardrails to grow the right way.

We have taken a multi-faceted approach to ESG, which spans initiatives to reduce our environmental footprint, amplify financial inclusion, improve our ESG ratings, accelerate employee participation, and continuously improve our ESG reporting.

Even as our ESG initiatives bear fruit and create impact, we believe that we have a long way to go. Operating in a world faced with new challenges and opportunities, we believe that there is a significant role we can play – be it through credit access, sustainable finance, environmental consciousness, or social interventions. Towards this end, we are actively in search of new avenues to create impact and are striving to do the right thing at every juncture of our growth journey. This, we believe, will help us stand out in the years to come.

sikha