Sign up to access all our data and the evidence and analysis underlying our overall scores. Once you've created an account, we'll get in touch with further details:
Sign Up
| Overall Assessment |
Comment |
Score |
| Strong |
Axis Bank provides a high level of transparency on what it engages on and how, though it is less explicit about the precise changes it wants to secure. The bank identifies several concrete climate-related policy initiatives it has worked on, including development of India’s domestic green-financing taxonomy through a Ministry of Finance task force, the Securities and Exchange Board of India’s 2017 green-bond disclosure requirements, and national energy measures such as the Electricity (Amendment) Bill 2022 and the Green Energy Open Access Rules 2022, as well as its role in the India Green Bond Council and the ICMA Green Bond Principles group. It explains a range of mechanisms it uses—“mandatory filings with key regulators,” “interaction during inspections,” “one-on-one meetings and group meetings,” participation in banking platforms and conferences, and formal membership of committees and task forces—and names clear lobbying targets such as SEBI, the Reserve Bank of India, and the Ministry of Finance. However, its disclosures describe only broad ambitions, such as promoting decarbonisation, catalysing India’s hydrogen economy and encouraging “transparent, consistent, and measurable reporting of ESG processes,” without spelling out specific legislative amendments, quantitative targets or timelines it is advocating. This leaves the desired policy outcomes less well defined than the policies and engagement channels themselves.
|
3
|
| Overall Assessment |
Comment |
Score |
| Limited |
Axis Bank Ltd discloses some governance elements related to its lobbying and engagement activities, particularly in the context of ESG and climate-related matters. The company highlights its participation in policy advocacy through forums such as SEBI, CII, and FICCI, and mentions its involvement in initiatives like the India Green Bond Council and ICMA Green Bond Principles group. It also notes that its Chief Risk Officer and Head of Sustainability are members of various ESG-related advisory committees and task forces, which influence public policy. Additionally, the ESG Committee of the Board oversees commitments related to the UN Sustainable Development Goals and the Paris Agreement, with regular progress reporting. However, while these disclosures indicate some oversight and engagement in climate-related advocacy, there is no explicit mention of a structured governance process to ensure alignment of lobbying activities with climate goals. For example, the company does not disclose mechanisms for monitoring or managing lobbying alignment, nor does it provide evidence of actions taken to align direct or indirect lobbying with its climate strategy. Furthermore, Axis Bank explicitly states that it does not have a public commitment to conduct engagement activities in line with the Paris Agreement goals and does not plan to adopt one in the next two years. This indicates limited governance in terms of ensuring alignment of lobbying activities with climate-related objectives.
|
1
|