Federal Bank's Commitment to Environmental Stewardship

Federal Bank’s efforts to minimise our operational carbon footprint is focussed on the digitalisation of products and services, generation and use of renewable energy, responsible utilisation of resources and waste recycling, among others.

Through the implementation of energy efficient technologies, emission reduction strategies, and sustainable practices, we strive to lower our environmental impact. Our diligent measurement and disclosure of emissions across various scopes backs our Bank’s aim of minimising our carbon footprint. This includes direct and indirect emissions from operations and those resulting from green financing initiatives. Our Bank is also focussing on CSR activities such as planting trees and installing solar streetlamps which help reduce the carbon footprint.

We have successfully installed solar rooftop plants in several of our branches and office premises, reaching a total capacity of 300KW as of March 2023. We aim to further increase this capacity to 500KW by FY 2024-25. In line with our commitment to energy efficiency, we are replacing all the CFL light fittings in our premises with energy-efficient LED lights. Additionally, we are gradually replacing the conventional AC units with Inverter type AC units that use eco-friendly low GWP gas. This upgrade will not only reduce energy consumption but also minimise emissions. Moreover, as part of our emission reduction efforts, we have committed to exclusively procure BEE star-rated equipment.

*For calculations, the transition from 6,645 traditional fluorescent lights to LED lights decreased approximately 222 kilowatts (kW) in power consumption. This estimation has been projected for a period of 12 months, assuming 8 hours of usage per day for 24 days each month.

**In this fiscal year, 1,419 Inverter/VRF AC units were installed in new and existing premises, with a capacity of approximately 2,418 TR for Inverter AC and 376 HP for VRF machines. Power savings are estimated at 12% due to the lack of a measurement mechanism, compared to the industry average of 25% savings.

As of March 2023, our Bank had successfully installed rainwater harvesting units with a capacity of 84,000 litres, resulting in an estimated conservation of 2,00,000 litres of water. Furthermore, there are plans to install additional rainwater harvesting units on more premises.

Our focus is on minimising our environmental impact by advocating for paperless operations, reducing single-use plastics, and implementing comprehensive recycling programmes. Waste segregation bins are provided in all our branches and offices, promoting the separation of dry and wet waste at the source.

We collaborate with local authorities for effective waste collection and disposal. In line with our commitment to environmental sustainability, we engage authorised e-waste recyclers for responsible disposal.

Single-use plastic bottles have been eliminated within our premises, and we are exploring alternatives to reduce paper and plastic waste. We have started tracking plastic waste, including plastic pouches for gold ornament safekeeping. We ensure appropriate disposal in collaboration with local corporations, municipalities, and panchayats. Employee engagement initiatives like the ‘Bring Out Your Sustainability Ideas on Plastic Free Workplaces’ contest supported practical and implementable solutions. Reusable water bottles were provided to staff, promoting a reduction in single-use plastics.

Moreover, we have initiated the tracking of paper waste at our head office and plan to gradually expand this practice to other offices. We believe these proactive efforts will significantly contribute to our overall waste reduction goals.