Axis Bank Ltd

In September 2021, under the oversight of the ESG Committee, we announced a series of commitments to achieve the UN Sustainable Development Goals (SDGs) and bolster India's commitments under the Paris Agreement. We regularly report our progress on these commitments to the ESG Committee of the Board. [...] During the year, the Indian Banks' Association (IBA) formed the IBA Standing Committee on ESG to drive the adoption of ESG frameworks and best practices by Indian banks, with a strong focus on climate risk and sustainable finance. The Managing Director, Axis Bank, was nominated as the Alternate Chair of the committee, with two other senior leaders also nominated as members. [...] The FICCI National Committee on Banking aims to support and accelerate the Indian banking sector's contribution to India's economic progress. The Managing Director, Axis Bank is the Chair of the Committee. At the request of the committee, Axis Bank co-authored and submitted a policy recommendation paper on ESG and climate action, which has been submitted to the government of India and the RBI.

During the year, we continued our participation in and contribution to policy advocacy and thought leadership on topics around ESG, climate action and CSR with formal representations on diverse policy level, industry, and academic forum, such as the World Economic Forum, SEBI, CII and FICCI. [...] As a leading financial institution, we remain committed to playing a pivotal role in enabling a low-carbon, more inclusive and more equitable economy. In 2021, we were the first Indian bank to establish a standalone ESG Committee of the Board. This committee has strengthened the Bank's strategic thinking and decision-making around ESG. [...] Additionally, an ESG Steering Committee was established at the management level. In fiscal 2022, we adopted a purpose statement –'Banking that leads to a more inclusive and equitable economy, thriving community and a healthier planet' – leading to the formation of the first standalone ESG Committee in the Indian banking sector. To address specific ESG themes, management-level groups, such as the ESG Working Group for Sustainable Financing and the Diversity, Equity & Inclusion (DEI) Council were established.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]The Bank has significantly scaled up its industry and sectoral engagement on ESG matters, including climate change. The Bank has been involved in a number of initiatives around sustainable financing, including market development for green bond /green capital markets, with agencies including Climate Bonds Initiative and ICMA. Axis Bank has been a founding member of the India Green Bond Council, launched jointly with FICCI and other leading stakeholder institutions. We were also members of the ICMA Green Bond Principles group, which formulated the Green Bond Principles. The Bank's Chief Risk Officer is a member of Advisory Committee on ESG related matters constituted by The Securities and Exchange Board of India (SEBI), as well as on the Task Force constituted by the Ministry of Finance, Government of India, that is developing India's domestic green financing taxonomy. In addition, the Bank's Head of Sustainability is a member of the FICCI Task Force on ESG for FY 2022-23.

In addition, the Head of Sustainability is a member a CDP India Working Group on Sustainable Finance that has been constituted in early 2022 to influence public policy in this space.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]No, and we do not plan to have one in the next two years