YES BANK becomes the first Indian financial institution to endorse the Natural Capital Declaration
4 September 2013: The Natural Capital Declaration (NCD) announces that YES BANK – India’s fourth largest private sector bank, has become an official supporter of the NCD and will provide continued support and input into the development of accounting, disclosure and reporting frameworks that incorporate natural capital considerations.
The NCD (convened by Global Canopy Programme and the United Nations Environment Programme Finance Initiative), is a finance-led and CEO-endorsed initiative committing financial institutions to integrating natural capital considerations into financial products and services, accounting and reporting. Over 40 financial institutions are signatories to the Declaration and more than 30 supporter organisations which bring a range of expertise and stakeholder interests.
YES BANK as one of India’s most forward thinking and entrepreneurial banks is committed to developing sustainable business models which not only meet the current needs of Indian businesses but also the future needs. Committed to adopting international standards and best practices, YES BANK is as a business is prioritising and promoting natural capital considerations as vitally important to the long term economic development of the Indian economy. As part of this continued commitment, YES BANK will be holding the first Natural Capital Awards in conjunction with Saevus, where the finest natural capitalist of India will be recognised.
Mr Rana Kapoor, MD and CEO, YES BANK stated “We are extremely pleased to have become active members and signatories to the Natural Capital Declaration. Natural capital considerations should be at the epicentre of all business and financial decisions. At YES BANK we firmly believe that the financial sector needs to take a leadership role in promoting the transition towards natural capital accounting and this can not only be evidenced by our on-going involvement with the NCD, but also with our forthcoming Natural Capital Awards and several adjacent initiatives.”
Yuki Yasui, Officer in Charge of UNEP FI states “We are very pleased with YES BANK’s endorsement of the NCD, the first Indian bank to do so. As emerging markets such as India continue to grow it is important to better understand how changing environmental phenomena (weather extremes, water availability, ecosystem degradation) can affect the loans, investments and other products on a banks’ balance sheet. The NCD aims to provide insight to uncover these and solutions how to address these issues in credit risk management and product development.”
For further information, or to arrange an interview, please contact:
Global Canopy Programme
Rachel Mountain, Head of Communications, Global Canopy Programme,
Tel: +44 (0)1865 724 333
UNEP Finance Initiative
John Domkins, Communications Officer, UNEP FI,
Tel: +41 22 91 78 134
Abhishek Issar, Marketing & Corporate Communications,
Tel: +91 9711205142]
Notes to editors
About Yes Bank
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the vision of “Building the Best Quality Bank of the World in India” by 2015.
About the Natural Capital Declaration
The Natural Capital Declaration (NCD) is a global finance-led and CEO-endorsed initiative to integrate natural capital considerations into financial products and services, and to work towards their inclusion in financial accounting, disclosure and reporting. The NCD is the cumulative result of in-depth consultations with the finance community and other stakeholders and was launched at the Rio+20 Earth Summit in June 2012. In phase II, which started in 2013, signatory financial institutions are settting about implementing the commitments in the Declaration through the NCD Roadmap. The initiative is jointly convened by the United Nations Environment Programme Finance Initiative (UNEP FI) and the Global Canopy Programme (GCP). www.naturalcapitaldeclaration.org
About the YES BANK –Saevus Natural Capital Awards 2013
YES BANK is institutionalizing India’s first ever Natural Capital Awards, in association with SAEVUS, India’s premier wildlife and nature publication. The YES BANK-SAEVUS Natural Capital Awards 2013 is a unique recognition platform that identifies corporates and individuals who have made ecological preservation and conservation their utmost priority.
The YES BANK-Saevus Natural Capital Awards will endeavour to find, reward and showcase the finest natural capitalists of India, comprising of individuals, groups and future corporations that are dedicated towards biodiversity growth and environmental stewardship.
The final winners will be announced at an awards ceremony on the 4th September 2013. For more information about the awards visit http://www.thenaturalcapitalawards.com/
About UNEP Finance Initiative
UNEP Finance Initiative is a global partnership of over 200 institutions, including banks, insurers and fund managers, working with UNEP to understand the impacts of environmental and social considerations on financial performance. www.unepfi.org
About the Global Canopy Programme
The Global Canopy Programme (GCP) is a tropical forest think-tank, working to demonstrate the scientific, political and business case for safeguarding forests as natural capital that underpins water, food, energy, health and climate security for all. www.globalcanopy.org
Go back to News, Press release