State Bank of India

Additionally, in FY 2021-22, the Bank has not undertaken any spending towards political campaigns, political organisations, lobbyists or lobbying organisations. [...] The Policy mandates for a Corporate Centre Sustainability Committee (CCSC) to oversee the implementation of the policy. This committee is headed by a Deputy Managing Director, who is also designated as the Chief Sustainability Officer [...] Yes. The Board approved Sustainability and Business Responsibility (BR) policy mandates for a Corporate Centre Sustainability Committee (CCSC) which is responsible for decision making on sustainability.

#### 2.1 Risk Governance

2.1.1 **Board oversight: The Central Board shall have**

the primary responsibility of overseeing climate
change related matters through the Risk
Management Committee of the Board.
2.1.2 **Management oversight: The Climate Change**

**Climate change risk governance structure**

Risk Management Committee (CCRMC) shall
be responsible for overseeing climate change
matters at senior management level. The
CCRMC shall meet once in a quarter or more
frequently as required, and the proceedings of
the meeting shall be placed before RMCB for
information and for required
recommendations/approvals.
2.1.3 **Implementation of the Policy: The Policy shall be implemented by heads of all**

business and operating units, integrating climate change considerations into their
specific areas of business and operations.

The execution of Bank's environmental and social goals and targets are monitored by the Corporate Centre Sustainability Committee (CCSC) that comprises 14 Corporate Business and functional Heads. As per the National Voluntary Guidelines on Social, Environment and Economic responsibilities, the Business Responsibility at the Bank will be headed by a Director level position (Managing Director) overseeing the compliance requirements of the Bank. The mandatory Business Responsibility Report, shall form part of the Annual Sustainability Report. Further, the Circle Sustainability Committees (CSC) have also been established at each Circle to monitor the sustainability performance at the Circle level. The Corporate Sustainability Department at the Corporate Centre is the nodal department to handle the issues relating to Sustainability matters of the Bank. DGM Sustainability is responsible for overall sustainability performance management, executing sustainability initiatives across the Bank, running awareness programmes for sustainability across the Bank, development and publication of the annual sustainability report and other related matters. [...] Roles and responsibilities at each level of the governing structure are outlined below: ▪ The Board of Directors is responsible for approving the sustainability and Business Responsibility Policy. ▪ The Deputy Managing Director(HR) and Corporate Development Officer (CDO) will directly supervise the implementation of the Policy on behalf of the Board and the DGM (Sustainability) will be the owner of the policy. DGM (Sustainability) will also be responsible for overseeing the implementation and communication of the sustainability strategy to the stakeholders. ▪ The Corporate Centre Sustainability Committee (CCSC) is responsible for overall execution of the policy. The Committee will also be responsible for: i. Ensuring that the policy is consistently and effectively executed by each functional unit of SBI and provides for adequate training, coaching and resources to ensure effective implementation and compliance. ii. Ensuring new functional units are designed keeping in mind the policy and, iii. Reporting on the achievements, failures and difficulties of implementing the policy to the Board. ▪ The Nodal Officer at respective circles (DGM & CDOs) will implement the policy at the circle level along with the circle level sustainability committee.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]SBI's credit policies and appraisal procedures are prepared in line with Bank's focus on protection of environment and sustainable business activities. The Entry barrier in Credit Risk Assessment (CRA) Model for credit proposals above INR 25 lakhs clearly outlines: 'Compliance of Environmental Regulations' as an "Entry Barrier† in Bank's CRA model. In respect of existing connections coming up for renewal / review / enhancement, failure to comply with environmental regulations may lead to down-gradation of credit rating. All the credit proposals are reviewed annually.
SBI has developed a "Sustainability and Business Responsibility Policy† that determines its effort to adapt and operate efficiently in an environment filled with risks and opportunities. The policy also addresses aspects covered under the nine principles as defined by National Guidelines on Responsible Business Conduct (NGRBC) published by the Ministry of Corporate Affairs, Government of India. The primary objective of the policy statement is to help direct SBI's sustainability strategy and integrate it with its business strategy. The Bank's involvement and engagement with policy makers, industry association and knowledge partners on climate change issues will be aligned to the objectives to be fulfilled by its Sustainability and Business responsibility policy.