IndusInd Bank Partners with UNICEF for Climate Action

November 23, 2024

IndusInd Bank has partnered with UNICEF to tackle climate risks, which aims to enhance community resilience in five Indian districts. The initiative was formalized through a Statement of Intent, which is part of the bank’s Climate Action program.

Target Districts

The partnership will focus on five districts:

Dharashiv, Maharashtra
Begusarai, Bihar
Virudhunagar, Tamil Nadu
Baran, Rajasthan
Bahraich, Uttar Pradesh

These areas are vulnerable to climate-related disasters. The goal is to create disaster-resistant communities.

Programme Objectives

The initiative will aim to Improve community resilience to climate impacts, Improve disaster preparedness and response, and implement sustainable practices in local governance. These objectives align with broader climate action goals.

Collaborating Partners

IndusInd Bank will collaborate with various organisations:

CSR Trust for SDGs in India (CTSI) – IIT Gandhinagar
Gorakhpur Environment Action Group – Mission Samriddhi

These partners will contribute expertise and resources.

Leadership

Srinivas Bonam, Head of Inclusive Banking Group at IndusInd Bank, brought into light the bank’s commitment to vulnerable communities. He stated that the initiative promotes sustainable development. Arjan de Wagt from UNICEF India emphasised the importance of local solutions. He noted that the partnership will help local governments implement climate strategies effectively.

IndusInd Bank’s shares traded at ₹973.90. This reflects a decrease of ₹26.30 or 2.63% on the NSE. The market’s reaction might be influenced by various factors, including the announcement of this partnership.

Important Facts for Exams:
CSR Trust for SDGs in India (CTSI) – This organisation focuses on corporate social responsibility initiatives. It aims to align business strategies with sustainable development goals. It promotes responsible business practices in India.
Gorakhpur Environment Action Group – This NGO works on environmental issues in Gorakhpur. It aims to raise awareness and implement sustainable practices. It engages communities in environmental conservation efforts across the region.
Bahraich, Uttar Pradesh – This district is known for its vulnerability to climate-related disasters. It is part of the partnership with UNICEF and IndusInd Bank. Efforts are underway to enhance community resilience here.

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