YES Bank, India’s fifth largest private sector bank, has announced that it will spend Rs 250 crore towards livelihood, water security and environment sustainability by 2020 through its focused and intensified corporate social responsibility (CSR) and sustainability actions.
Highlighting the activities, Rana Kapoor, Managing Director & CEO, YES Bank said,” At YES Bank, we realise that it is vital to adopt a holistic, long-term view towards CSR to be able to generate scale and resultant social impact. In accordance with this philosophy, we have approved a 5 year plan instead of looking at socio-economic interventions on a limited, yearly basis. We remain committed to touching 10 crore lives by 2020 by providing access to safe and clean drinking water.”
The YES Bank had confirmed in December 2015, on the occasion of COP21 at Paris to target mobilising US$ 5 billion towards climate finance in India, and provide access to safe and clean drinking water to 10 crore lives by 2020.
The Bank, in 2015-16, touched more than 2 lakh lives every day by providing access to safe and clean drinking water through its ‘Livelihood and Water Security’ initiative and in a significant development, has partnered with the Indian Railways to provide safe and clean drinking water at 1,000 railway stations across India by 2019.
Namita Vikas, Group President and Global Head, Responsible Banking, YES Institute said, “YES BANK has established itself as a sustainability leader in the banking sector through its various industry-first initiatives, including its multi-faceted interventions towards livelihood and water security, skill development, and environment sustainability. We have been able to create stakeholder value by implementing projects based on unique models that are scalable and have sustainable impact.”