Federal Bank in India has partnered with DHL Express to implement the ‘Go-Green Plus’ plan, aimed at reducing the bank’s carbon emissions associated with document transport. The plan utilizes Sustainable Aviation Fuel to offset emissions from courier services, aligning with the bank’s ESG commitments.
In 2023, Federal Bank reported a total of 18,473 metric tonnes of CO2e in Scope 3 emissions. The adoption of the ‘Go-Green Plus’ plan is a strategic move to address the emissions from couriers, parcels, and posts, which had not been reported previously.
According to DHL’s data, Federal Bank’s emissions from overseas couriers were around 45 tonnes in 2023. By implementing ‘Go-Green Plus’, these emissions are projected to initially decrease by 30% in CT24, with the possibility of further reductions in the future.
Key features of the ‘Go-Green Plus’ initiative include:
- Insetting for Carbon Emission Reduction: Actively contributes to reducing the Bank’s Scope 3 emissions through in setting.
- Book and Claim Methodology: Ensure supply chain continuity with minimal disruption.
- User-Friendly Integration: A plug-and-play model for easy adoption into the Bank’s operations.
- SGS Validated Emission Reports and Certificates: Credible and globally recognized validation of the Bank’s annual carbon emission reduction.
Federal Bank has taken proactive measures to reduce Scope 3 emissions in its downstream activities and has subscribed to the ‘Go-Green Plus’ plan, further demonstrating its commitment to environmental sustainability and making progress in its ESG efforts.
Reference- DHL website, PR Agency Feed, Economic Times, Business Standard