With this Report, YES BANK has become the first Indian Bank to release a Sustainability Report based on the Integrated Reporting (<IR>) framework of the International Integrated Reporting Council (IIRC). Integrated Reporting enables the Bank to highlight not only its non-financial performance but also the connections between its financial and non-financial performance, and help stakeholders better understand connections between the financial performance and management of its human, natural and intellectual capitals.
The Report continues to adhere to the GRI G4 reporting framework choosing to report as per the ‘In accordance – Comprehensive’ option, emphasizing it includes responses on each indicator of all material issues identified through enhanced stakeholders’ dialogue and consultation. The Report has been externally assured by KPMG.
FY 2015-16 has been historic, with the adoption of, the Addis Ababa Action Agenda towards financing for global development, the Sustainable Development Goals for inclusive development, and the Paris Agreement on climate action. In the backdrop of this collective global agenda, the Report captures YES BANK’s impact across its stakeholders through multidimensional approaches, gauging its success through shared value created across the six capitals as per the <IR> framework.
On the release of the Report, Namita Vikas, Group President & Managing Director, Climate Strategy & Responsible Banking, YES BANK said, “In line with its Responsible Banking ethos, YES BANK has striven to positively impact its stakeholders through multidimensional approaches, gauging its success on integrated outcomes and value created. Aligning with the Integrated Reporting framework would enable us to more comprehensively present this value creation sustained through the short and long term. With the launch of the first report in the Indian banking sector aligned to the IR framework, YES BANK continues to be the benchmark institution for Triple Bottom Line accounting and reporting in India.”
In a significant move towards YES BANK’s integrated reporting journey, the Bank became the first Indian Banking sector member of the <IR> Lab India, a collaborative effort between CII, IIRC, regulators, accounting firms, academics and the corporate sector, with a focus on advocacy and proliferation of integrated reporting in India.