Yes Bank

YES Bank, headquartered in IN and operating within financial intermediation services, has outlined ambitious climate commitments and reported its carbon emissions.

For the reporting year 2023, YES Bank reported a total of approximately 61.7 million kg CO2e. This figure encompasses Scope 1 emissions totalling about 3.5 million kg CO2e, Scope 2 emissions of approximately 37.5 million kg CO2e, and Scope 3 emissions amounting to about 572.9 million kg CO2e. Key contributors to Scope 3 emissions in 2023 included investments (approximately 560 million kg CO2e), business travel (about 2.1 million kg CO2e), and employee commute (around 2.3 million kg CO2e).

In the preceding year, 2022, YES Bank's total emissions were significantly higher, reaching approximately 1.97 billion kg CO2e. This included Scope 1 emissions of approximately 3.2 million kg CO2e, Scope 2 emissions of about 44.3 million kg CO2e, and Scope 3 emissions of approximately 1.92 billion kg CO2e, with investments being the primary driver at about 1.91 billion kg CO2e.

YES Bank has committed to achieving Net Zero greenhouse gas emissions by 2030. To support this goal, the bank plans to transition a majority of its facilities to renewable energy sources. In FY 2022-23, renewable energy accounted for around 11% of the bank's electricity consumption, resulting in an estimated 4,435.77 tonnes of CO2e in avoided emissions. The bank has also made progress in reducing its direct emissions, achieving a 13.66% reduction in FY 2022-23 compared to the previous year. Furthermore, YES Bank aims to decrease its energy consumption through enhanced energy efficiency measures. Currently, its corporate office and 34 of its 81 branches in Mumbai are powered by renewable energy.