ICICI Bank Reduces Energy Consumption By Nearly 20% In 3 Years

ICICI Bank has saved 34.2 million units in terms of energy consumption over the last 3 years. This is equivalent to the amount of energy that can power 42,000 rural households for an entire year. ICICI Bank has utilized 20 million units of solar energy which means that nearly 10% of the Bank’s energy consumption today relies on the renewable solar energy. The overall energy savings & utilization of renewable energy has enabled the Bank to reduce carbon emission by nearly 40,000 tonnes. This is equivalent to planting over 1,90,000 trees to offset the volume of carbon emissions.

On the occasion of World Environment Day, Ms. Chanda Kochhar, MD & CEO, ICICI Bank said, “We at ICICI Bank have always given utmost importance to environmental preservation in all our initiatives. Over the last few years, the Bank has focused largely on reducing its carbon footprint and bringing in more efficient technologies and processes. In line with this thought, we have taken several measures to ensure that the Bank actively contributes towards environmental sustainability. I’m happy to share that our efforts have borne results.

All of this has been possible due to our constant efforts at leveraging technology in all our offerings that has enabled customers to adopt more of digital modes of banking. The encouraging response from customers has helped us build on our strengths to create a more self-sufficient ecosystem. Thus, we will continue to utilize renewable energy sources to cater to our energy requirements in the coming years as well.”

Key Highlights:

1.       ICICI Bank has reduced its overall energy consumption in large offices & branches from 198 million units in FY2014 to 164 million units in FY2017, saving 34.2 million units in last 3 years.  This is equivalent to the amount of energy that can power 42,000 rural households for an entire year.

2.       In terms of utilisation of renewable energy, ICICI Bank has utilized 20 million units of solar energy over the last 3 years. Nearly 10% of the Bank’s energy consumption today relies on the renewable solar energy.

3.       The overall energy savings & utilization of renewable energy has enabled the Bank to reduce carbon emission by nearly 40,000 tonnes. This is equivalent to planting 1,94,000 trees to offset the volume of CO₂ emissions.

4.       The Bank has reduced its overall paper consumption from 2441 tonnes in FY2014 to 1852 tonnes in FY2017 resulting in a 25% decrease in the last 3 years. This is equivalent to saving around 10,000 trees.

5.       This has been possible due to the Bank’s efforts to popularise digital services including internet banking, mobile banking, Tab Banking, subscription to e-statements and Green PINS at ATMs.

6.       Additionally, the Bank has commissioned over 200 solar powered ATM sites   

Key initiatives which have led to the reduction in the overall energy consumption:

1.       Efficient design template for new branches/offices. It ensures that the built in efficiency is equivalent to 3 STAR rated performance from the time of commissioning of the branch itself.

2.       Launched an Industry First initiative of Centralized Monitoring System (CMS) which enables 24/7 remote monitoring and control of infrastructure at all branches and offices. CMS helps in managing infrastructure & drives efficiency by giving real time alerts for quick response. The eletse India 2015 award winning system is covers more than 3000 branches of the bank.

3.       Enhanced renewable energy portfolio through:

·              Installation of roof top solar panels to on the Bank’s office buildings

·              Sourcing of 11MW solar power through open access mechanism at large office buildings.

·              Installed 1kWp capacity solar panels at 525 branches in unbanked villages. This has helped improve network uptime in these branches as well as preserving the nature at these locations by avoiding polluting DG sets.

·              This roof top solar generation meets over 30% energy requirements of these branches, while enhancing the reliability & availability of power supply.