How Bank of India Plans to Slash Emissions by 63%

Mumbai, May 22, 2026: Bank of India (BoI), one of the country's leading public sector lenders, has published its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The comprehensive report outlines the bank's commitment to environmental, social, and governance (ESG) principles, including a bold new transition plan to drastically reduce its carbon footprint.

In a filing with the National Stock Exchange (NSE) and BSE, the bank detailed its performance across the nine principles of the National Guidelines on Responsible Business Conduct (NGRBC). The report has received "reasonable assurance" from JointValues ESG Services Private Limited on its BRSR Core metrics.

A Landmark Commitment to Decarbonization

A cornerstone of this year’s report is Bank of India’s formal Transition Plan to reduce absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 63% by the fiscal year 2034-35, using FY 2024-25 as the base year.

To achieve this, the bank has outlined a multi-pronged strategy:

Renewable Energy Expansion: The bank has already installed 630 kW of rooftop solar systems across 32 owned premises and plans to scale this up with battery energy storage solutions.
Green Power: All three of its Head Office buildings at the Bandra Kurla Complex (BKC) operate on 100% green power under a tariff agreement with Tata Power and have achieved Gold Category Green Building Certification.
Green Finance Targets: BoI has identified a strategic opportunity to mobilize ₹1 lakh crore in incremental green finance by 2035, with an interim target of ₹50,000 crore by FY 2031 to support portfolio decarbonization.

Key Performance Highlights of FY 2025-26

The BRSR report showcases the bank's progress on several ESG fronts during the fiscal year:

Environmental Impact: The bank reported a reduction in its GHG emission intensity to 1.08 tCO2e per crore of turnover, down from 1.22 in the previous year. Green finance exposure has already exceeded ₹14,000 crore.
Social Inclusion & Empowerment:
- Women constitute 29.9% of the total workforce (15,252 employees), with one woman on the Board of Directors and one of two Key Management Personnel being female.
- The bank financed over 3.57 lakh women Self-Help Groups (SHG) and sanctioned approximately ₹2,600 crore under Sustainable Water and Waste Management initiatives.
- Over 2.96 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts have been opened, bringing banking to the unbanked.
Governance & Data Security: The bank maintains a zero-tolerance approach to corruption and has embarked on a Digital Personal Data Protection (DPDP) implementation journey, including the establishment of a Data Protection Office (DPO). The bank also maintains ISO 27001:2022 (ISMS) and ISO 22301:2019 (BCMS) certifications.

Employee Well-being and Grievance Redressal

Bank of India reported a stable workforce of 51,010 permanent employees. The bank spent 0.32% of its total revenue on employee well-being measures. The BRSR also detailed the bank's grievance mechanisms, noting that out of 291,644 customer complaints received during the year, 1,755 were pending resolution at the year's end. The bank reported zero complaints related to data privacy or cyber-security from customers, though it noted four DDoS attacks during the year with no data breach.

Looking Ahead

The report emphasizes that ESG oversight is now a Board-level priority, with a dedicated ESG committee of senior executives and a separate "Green Assets & Liabilities Cell" to operationalize sustainability strategies.

Disclaimer: This article is based on a business responsibility and sustainability report filing submitted by Bank of India to the stock exchanges. The figures and claims are as reported by the bank and assured by JointValues ESG Services Pvt. Ltd.