The country's third-largest private sector lender Axis Bank has committed Rs 30,000 crore lending till the fiscal year 2025-26 under its sustainable financing framework, a senior official said.
The country's third-largest private sector lender Axis Bank has committed Rs 30,000 crore lending till the fiscal year 2025-26 under its sustainable financing framework, a senior official said.
These commitments are in line with the Sustainable Development Goals (SDGs), supporting India's commitments under the Paris Agreement.
"As part of its commitments, the bank has set a target of incremental lending of Rs 30,000 crore over the next 5 years, under wholesale banking towards pertinent sectors included in its Sustainable Financing Framework (SFF)," Rajesh Dahiya, Executive Director (Corporate Centre), Axis Bank told PTI.
Environmental, Social, and Governance (ESG) is a measure which investors use as a tool to assess how good the practices of a company are. For the last 3-4 years, the words sustainability and ESG have made people sensitive about the whole idea of a sustainable planet, Dahiya said.
"These are the metrics which have been spoken about for about 3-4 years now. However, COVID and all its problems, it highlighted the issue of sustainability in a very big and magnified manner.
"In the next five years, we want to lend Rs 30,000 crore more incrementally as wholesale banking towards pertinent sectors including Axis Bank's SFF. We want to increase our portfolio of green lending," Dahiya said.
He said the bank's existing wholesale banking portfolio towards SFF, including green and social sectors, is a little over Rs 29,000 crore and it intends to lend to companies where there are green practices.
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