Mumbai: YES BANK, India’s fifth largest private sector bank, has released its Sustainability Report for FY 2014-2015, “Glocalizing Responsible Banking in India”.
The release of the Report comes at a time when global boundaries are fading to create a ‘glocal’ effect, wherein challenges, both global and local, are being addressed with global or local solutions in various permutations and combinations. This emerging phenomenon is helping countries move towards a circular economy where financial, social and environmental priorities are integrated. Right since inception, YES BANK has striven to deliver on its responsibility as a financial institution and has incorporated the Responsible Banking ethos to deliver on this integrated vision.
With this release, YES BANK becomes the only Indian bank to release an externally assured report as per the GRI G4 ‘Comprehensive’ reporting guidelines of the Global Reporting Initiative (GRI), the global benchmark framework for sustainability reporting.
The G4 is the latest generation of the GRI reporting framework that encourages reporters to provide disclosures and respond to indicators that are material to their business. The Report’s ‘Comprehensive’ criterion emphasizes that it includes responses on each indicator of all the material issues identified from enhanced stakeholders’ dialogue and consultation. The Report has been externally assured by KPMG, further strengthening the reliability of its content and relevance for readers.
While announcing the launch of the report Mr. Rana Kapoor, MD & CEO YES BANK said, “In line with our responsible banking ethos, we take considerable pride in setting the benchmarks for triple bottom line accounting and reporting in the Indian banking sector. As our sustainability vision weaves into our core business strategies and processes, every employee, customer, partner, or banking sector peer becomes a key stakeholder, and this Report aims to cover the key material issues and concerns that are important to them.”
The report can be viewed at http://www.yesbank.in/investor-relations/sustainability-report.html
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