Bank of Baroda, one of India’s largest public sector lenders, said on Tuesday it aims to achieve net-zero greenhouse gas emissions by 2057, unveiling a new environment, social and governance policy to guide its sustainability efforts.
The announcement made on Earth Day marks a significant milestone in the bank’s push to embed ESG principles across its operations.
The bank has also committed to reducing its Scope 1 and Scope 2 emissions by 75 percent by 2034, using 2024 as the base year.
Scope 1 emissions are direct emissions from sources owned or controlled by an organization, such as fuel combustion in vehicles, boilers, furnaces or other equipment.
In contrast, Scope 2 is indirect releases, such as electricity, steam, heating or cooling purchased from external providers.
“Earth Day 2025 marks a defining moment in Bank of Baroda’s sustainability journey,” said Debadatta Chand, managing director and CEO. “Our Net Zero commitment reflects the importance we place on being a responsible corporate citizen.”
Climate Commitments and ESG Integration
The ESG policy outlines a governance structure and defines focus areas under the three pillars. Environmental efforts will include integrating climate risks into risk frameworks and promoting sustainable finance, including prioritized lending to renewable energy projects.
As part of its social commitments, the bank highlighted goals around digital inclusion, customer data privacy and employee development. Governance initiatives will focus on business ethics, cybersecurity, and compliance culture.
Bank of Baroda has also committed to conducting climate risk assessments for all large credit exposures above ₹50 crore by 2027. It aims to train all employees on ESG and climate risk issues within the same timeframe.
Green Finance and Employee Engagement
The lender has introduced products such as Green Deposits, Residential Rooftop Solar Loans, and a Green Hydrogen Financing Scheme.
It has also launched a ‘BOB Earth’ digital platform to showcase its sustainability initiatives and is conducting training workshops on green finance for staff.
In line with Earth Day’s 2025 theme, “Our Power, Our Planet,” the bank said it has planted over 30,000 trees this year under a customer-driven initiative linked to its auto and home loan disbursements.
