IndusInd Bank’s commitment to sustainable development is underscored by compelling data reflecting its impact in 2023. Sustainable finance now constitutes approximately 46% of the bank’s total lending, up from 43% in 2022 and a significant rise from 33% in 2018. In 2023, the bank’s green and climate finance advances amounted to Rs78.8 billion ($944 million), representing 2.72% of its total loans.
AfE 2024
To advance India’s net-zero goals, IndusInd Bank has introduced a comprehensive suite of environmental, social and governance-linked financing solutions aimed at mobilizing corporate support. A prime example is its role as the lead underwriter and lending institution for a Rs10 billion project finance facility for NLC India’s 300-megawatt solar project. This initiative is projected to annually generate approximately 750,000 megawatt hours of solar energy and mitigate an estimated 690,000 tonnes of CO2 emissions upon completion.
In addition to its focus on renewable energy, the bank has embarked on underwriting project finance deals in the burgeoning electric vehicle sector, sanctioning over Rs4 billion in loans to corporates in this industry.
IndusInd Bank has also launched Indus Solar, a new financing product designed to provide rooftop solar loans to small and medium-sized enterprise clients. This initiative aims to help SMEs reduce energy expenses, thereby enhancing profitability and sustainability.
Highlighting its global engagement, IndusInd Bank participated in Global Canopy’s Taskforce on Nature-related Financial Disclosures pilot programme in India. This initiative focused on assessing the bank’s corporate agricultural portfolio against two key parameters, biodiversity and water scarcity. By integrating insights from this assessment, the bank aims to incorporate nature-related risks into its lending decisions.