Yes Bank

YES Bank, a financial intermediation services company headquartered in India, has committed to achieving net-zero operational emissions by 2030.

In 2023, YES Bank reported its Scope 1 emissions at 3,541,400 kg CO2e, Scope 2 emissions at 37,468,120 kg CO2e, and Scope 3 emissions at 572,923,410 kg CO2e. This data primarily stems from sources such as their annual business responsibility and sustainability report.

Looking back, in 2022, the bank's Scope 1 emissions were approximately 3,217,140 kg CO2e, Scope 2 emissions were around 44,284,500 kg CO2e, and Scope 3 emissions totalled about 1,924,342,690 kg CO2e. For 2021, Scope 1 fugitive emissions were 2,522,930 kg CO2e, Scope 2 purchased electricity emissions were 37,385,900 kg CO2e, and Scope 3 emissions were 77,093,400 kg CO2e, which included business travel and employee commute.

To progress towards its net-zero target, YES Bank aims to transition most of its facilities to renewable energy. In the fiscal year 2022-23, the share of renewable energy in the bank's electricity mix reached approximately 11%, leading to about 4,435.77 tonnes CO2e in avoided emissions. This adoption of renewable energy contributed to a 13.66% reduction in direct emissions during FY 2022-23 compared to the previous year. The bank also plans to enhance its energy efficiency to reduce overall energy consumption.

YES Bank had a "Commitment removed" status for its near-term target from the Science Based Targets initiative (SBTi) as of September 2018. However, an earlier SBTi status from September 2018 indicated that the bank had "Committed" to near-term targets, with targets to be submitted by July 2023. This commitment has since been removed.