Bank of Baroda unveils ESG policy, aims to achieve net zero emissions by 2057

Bank of Baroda aims for a 75% reduction in Scope 1 and Scope 2 emissions by 2034
| Photo Credit:
ANUSHREE FADNAVIS

Bank of Baroda (BoB) on Wednesday unveiled its Environment, Social, and Governance (ESG) policy, whereby it plans to prioritise financing to renewable energy, ensure climate risk assessment for all large credit exposures of ₹50 crore and above by 2027 and achieve net zero emissions by 2057, among others.

The public sector bank has set various targets under the policy including realising a 75 per cent reduction in Scope 1 and Scope 2 emissions by 2034 (base year is 2024); employee training and capacity building on ESG and climate risk, with all staff members being covered by 2027.

Debadatta Chand, Managing Director & CEO, said: “The unveiling of our ESG policy and our net zero commitment (on the occasion of Earth Day 2025) is a reflection of the importance the Bank places on being a responsible corporate citizen – through contributing meaningfully to the environment, promoting social well-being, and maintaining the highest standards of governance. Our goal is to embed ESG practices into the core of our strategy and operations.”