BoB aspires to achieve Net Zero target by 2057
Bank of Baroda (Bank), one of India’s leading public sector banks, marked Earth Day 2025 with a landmark announcement unveiling its Environment, Social, and Governance (ESG) Policy and its aspiration to achieve Net Zero emissions by 2057
image for illustrative purpose
Mumbai, Apr 24: Bank of Baroda (Bank), one of India’s leading public sector banks, marked Earth Day 2025 with a landmark announcement unveiling its Environment, Social, and Governance (ESG) Policy and its aspiration to achieve Net Zero emissions by 2057. This strategic move reinforces the Bank’s long-standing commitment to promoting responsible & sustainable banking practices, mitigating ESG risks and seizing opportunities for a low-carbon future, aligning with Global Sustainability Frameworks and inculcating an ESG-centric culture within the Bank.
In line with the theme for Earth Day 2025, “OUR POWER, OUR PLANET”, that highlights the importance of renewable sources of energy, Bank of Baroda would prioritise financing to Renewable Energy. In its efforts to contribute towards a greener planet, the Bank has also planted over 30,000 trees in CY2025 till date on behalf of its customers for every Auto and Home Loan disbursed under its ‘Plant a Tree’ programme.
The ESG Policy will serve as a guiding document for all ESG initiatives and activities undertaken by the Bank. The Policy sets forth the ESG Governance Structure at the Bank, the focus areas under each of the 3 pillars of Environment, Social and Governance and ESG Metrics & Targets.
Speaking on the occasion, Debadatta Chand, Managing Director & CEO, Bank of Baroda, said, “Earth Day 2025 marks a defining moment in Bank of Baroda’s sustainability journey. The unveiling of our ESG Policy and our Net Zero commitment is a reflection of the importance that the Bank places on being a responsible corporate citizen – through contributing meaningfully to the environment, promoting social well-being, and maintaining the highest standards of governance. Our goal is to embed ESG practices into the core of our strategy and operations.”
Bank of Baroda has introduced a range of sustainable finance products such as Green Deposits, Residential Rooftop Solar Loan Scheme and the Green Hydrogen Financing Scheme. The Bank also has in place a Code of Ethics that defines the principles of ethical conduct expected from employees, vendors and other partners.
On Earth Day, the Bank has launched a dedicated ‘BOB Earth’ web space to showcase its sustainability initiatives and is undertaking a ‘Green Financing’ training & capacity building workshop to create awareness amongst employees.
