To mark Earth Day 2025, Bank of Baroda, one of India’s leading public sector banks, made a major announcement that shows its strong commitment to sustainability. The bank has unveiled its new Environment, Social and Governance (ESG) Policy and declared its goal to achieve Net Zero emissions by the year 2057.
This announcement aligns with the Earth Day 2025 theme — “Our Power, Our Planet” — which encourages the use of renewable energy and environmental responsibility. The bank is taking solid steps in that direction. As part of its green efforts, over 30,000 trees have already been planted this year for every home and auto loan disbursed under its ‘Plant a Tree’ programme.
The newly launched ESG Policy will act as a guide for all the bank’s activities related to environmental, social, and governance issues. It defines the governance structure, sets clear goals, and highlights key areas of focus for creating a sustainable and responsible banking model.
Speaking on the occasion, Shri Debadatta Chand, Managing Director & CEO of Bank of Baroda, said that Earth Day 2025 is a turning point in the bank’s sustainability journey. He stated, “By launching our ESG Policy and making a Net Zero commitment, we are showing that we care deeply about the environment, social well-being, and strong governance. We are working to build these values into the core of our business operations.”
The ESG Policy outlines several important targets for the coming years:
- Achieving Net Zero carbon emissions by 2057
- Reducing Scope 1 and Scope 2 emissions by 75% by the year 2034, using 2024 as the base year
- Conducting climate risk assessments for all large credit exposures (Rs 50 crore and above) by 2027
- Providing ESG and climate risk training to all staff by 2027
- Organising regular awareness sessions for the Board and leadership team on topics like ethical AI, cybersecurity, data privacy, and code of conduct
The bank has also clearly defined its focus areas under the three ESG pillars:
- Environment: Reducing emissions in its operations, integrating climate risk into decision-making, and supporting green finance
- Social: Protecting customer privacy, promoting digital banking, supporting financial inclusion, and ensuring employee well-being
- Governance: Fostering a culture of compliance, ethics, and strong corporate governance
In addition to the ESG Policy, Bank of Baroda has also introduced a range of sustainable finance products, including Green Deposits, a Residential Rooftop Solar Loan Scheme, and a Green Hydrogen Financing Scheme. The bank also follows a Code of Ethics, which applies to employees, vendors, and other stakeholders.
To raise awareness, the bank has launched a dedicated section called ‘BOB Earth’ on its website. It also held a Green Financing training workshop on Earth Day to educate its employees about the importance of sustainability in banking.
An abridged version of the ESG Policy has been made available to the public on the bank’s official website.
Founded in 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of India’s most trusted financial institutions. It is majority-owned by the Government of India and serves over 165 million customers worldwide, operating across 17 countries. The bank continues to expand its digital services and is committed to offering reliable and sustainable banking solutions.
