Yes Bank

Yes Bank, a financial intermediation services provider based in India, has committed to achieving Net Zero greenhouse gas emissions from its operations by 2030. In 2023, the bank's Scope 1 emissions were approximately 3,541,400 kg CO2e, Scope 2 emissions were around 37,468,120 kg CO2e, and Scope 3 emissions totalled approximately 572,923,410 kg CO2e. This includes about 559,982,760 kg CO2e from investments, 2,077,850 kg CO2e from business travel, and 2,316,140 kg CO2e from employee commute.

To progress towards its Net Zero target, Yes Bank plans to transition most of its facilities to renewable energy. In the financial year 2022-23, the bank's renewable energy share in its electricity mix increased to around 11%, resulting in approximately 4,435.77 tonnes CO2e in avoided emissions. This led to a 13.66% reduction in its direct emissions in FY 2022-23 compared to the previous year. The bank's corporate office, YES BANK House, and 34 of its 81 branches in Mumbai have already switched to renewables. Yes Bank also aims to reduce energy consumption through enhanced energy efficiency.

In 2022, the bank's Scope 1 emissions were about 3,217,140 kg CO2e, Scope 2 emissions were approximately 44,284,500 kg CO2e, and Scope 3 emissions were around 1,924,342,690 kg CO2e, with approximately 1,915,033,940 kg CO2e from investments. For 2021, Yes Bank reported Scope 1 fugitive emissions of about 2,522,930 kg CO2e, Scope 2 purchased electricity emissions of approximately 37,385,900 kg CO2e, and total Scope 3 emissions of around 77,093,400 kg CO2e. In 2020, Scope 1 fugitive emissions were approximately 2,569,080 kg CO2e, Scope 2 purchased electricity emissions were about 40,722,970 kg CO2e, and total Scope 3 emissions were around 48,596,250 kg CO2e. The bank also disclosed Scope 1, 2, and 3 emissions for 2019, 2018, and 2017. While Yes Bank had previously committed to near-term targets with the Science Based Targets initiative (SBTi), this commitment status has since been removed or is in a transitory grace period.