The foray into Green Power is also one such initiative that the Bank has taken towards achieving carbon neutrality over a period of time. As a move towards that end, it was decided to install windmills for generation of green power for Bank’s captive use with a view to substitute polluting thermal power. In the process, SBI has emerged as the first bank in India to install Wind Mills for captive use, which will go a long way in reducing its carbon footprint and projecting itself as a role model for others to emulate.
In the second phase, discussions have been initiated with various State Electricity Regulatory Authorities to obtain clearance on issues relating to multi point wheeling facility to HT as well as LT connections. In this context, discussions with the Gujarat Energy Development Authority to permit LT wheeling to enable the Bank to install additional 20 MW capacity windmills in the State are at an advanced stage.
Besides the above, the Bank has also undertaken a pilot study in respect of LEWWAC (Land, Energy, Water, Waste, Air & Carbon) management to establish carbon emission baselines, developing benchmarks and working on economically feasible ecological solutions for implementation, with the help of external consultants. Based on the finding emerged out of the pilot study, Bank has decided to implement some measures suggested in the pilot project report in order to test their usefulness so that such measures can be rolled out across all its establishments in order to achieve internationally acceptable standards.
Accordingly, adopting ‘Green Building’ standards in all the future constructions of the Bank and initiating every possible measure that will help protecting the environment will be the endeavour of the Bank with the aim of setting an example of Corporate Social Responsibility and reducing Bank’s direct as well as indirect carbon foot prints.
Besides internal greening of the Bank, as a part of the Green Banking Policy, the Bank also encourages its clients to adopt greening policies by switching over to efficient manufacturing technologies, and implementing energy efficient systems etc by offering to lend at concessional rate of interest. Clean Development Mechanism projects are offered a loan product – Carbon Credit Plus – that provides for financing of the resultant CER receivables.
About the Project Partners
WWF-India
WWF-India is one of India’s largest and most respected independent conservation organizations. Its mission is to stop the degradation of the planet’s natural environment, which it addresses through its work in biodiversity conservation and reduction of humanity’s ecological footprint. As part of its conservation agenda, WWF also partners with businesses to mainstream sustainable development, as part of their business operations. For more information, visit www.wwfindia.org.
CII-ITC Centre of Excellence for Sustainable Development
This pioneering effort of CII was launched in January 2006. It creates an enabling climate for Indian businesses to pursue sustainability goals by promoting thought leadership and building capacity to achieve sustainability across a gamut of issues to implement India’s agenda for inclusive growth. The Centre enables businesses to transform themselves by embedding concepts of sustainable development into their strategies, decisions and processes. For more information, visit www.sustainabledevelopment.in.
Carbon Disclosure Project (CDP)
The Carbon Disclosure Project (CDP) is an independent not-for-profit organization holding the largest database of primary corporate climate change information in the world. Some 3,000 organizations across the world’s largest economies now measure and disclose their greenhouse gas emissions and climate change strategies through CDP, in order that they can set reduction targets and make performance improvements. This data is gathered on behalf of 534 institutional investors, with combined assets under management in excess of $ 64 trillion, as well as purchasing organizations and government bodies and made available for integration into business and policy decision making. For more information, visit www.cdproject.net.
Source: WWF Press Release dated February 21, 2011.
