State Bank of India is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai. Its six services are: Personal Banking, Rural Banking, International Banking, SME Banking, Corporate Banking and Government Banking. The financial institution’s major subsidiaries include SBI General Insurance, SBI Life Insurance, SBI Mutual Fund and SBI Card. As of 2021, State Bank of India had INR 49.88 trillion in total assets.
State Bank of India publicly commits to gender equality and women’s empowerment. It also discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations.
State Bank of India discloses the proportion of women in its total direct operations workforce for each employee category. The financial institution discloses the amount of finance it directs towards usually excluded groups and small- and medium-sized enterprises (SMEs).
There is no evidence that State Bank of India assigns responsibility for sustainability to the group’s central board. Moreover, there is no evidence that the financial institution links the remuneration of its executive or management teams to sustainability performance criteria. In terms of female representation in leadership positions, none of the financial institutions board members are women. The financial institution has an opportunity to reach at least 40% female representation both on the board and in senior leadership positions, and to discloses the actions taken to address any pay gaps. Regarding engagement, State Bank of India has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.
There is no evidence that State Bank of India discloses a target to reach net-zero financed emissions by 2050. The financial institution discloses that it has climate products and services including a green fund, green bonds and green loans, but has an opportunity to discloses the aggregate amount or share of finance it devotes to climate solutions. Additionally, it could to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on alignment with the Paris Agreement. Regarding nature and biodiversity, the financial institution has an opportunity to commit to minimising its negative impacts.
State Bank of India states that it respects human rights, but has an opportunity to place this statement in a public policy document. Moreover, the financial institution has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. In regard to workforce diversity, the financial institution has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group. It could also disclose the amount of finance directed towards low-income developing countries.
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Revenue: INR 3.16 trillion; Total assets: INR 49.88 trillion