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Most banks fail on policies of climate change, human rights; inaction leaves sector vulnerable to investment risks: Report
FirstpostAs per the Fair Finance Guide India scorecard, three out of eight Indian banks have scored high on parameters of financial inclusion and corruption. New Delhi: Most Indian banks fail on policies of environment and human rights and this inaction leaves the Indian banking sector vulnerable to investment risks arising due to climate emergencies, according to the first edition of Fair Finance Guide India scorecard. The scorecard, that analysed environmental, social and governance policies, disclosures and commitments of various banks in India, noted that Indian banks have policies on financial inclusion and corruption, but are found wanting on social, environmental and human rights issues in their investment policies. The assessment covers ten themes across ESG domain — nature and climate change, labour rights, human rights, gender equality, financial inclusion and arms, transparency and accountability, corruption and tax.
History of this topic
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RBI’s proposal for a disclosure framework to ascertain climate-related financial risks | Explained
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‘Adapting to climate change to cost India ₹85.6 lakh crore by 2030’
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