With the launch in India today of the 11th Fair Finance Guide, a further 8 banks are now being held accountable for their impact on society and the environment in one of the world's largest economies. The first Fair Finance Guide India scorecard highlights the status of Indian banks’ adoption of international ESG standards, and shows that although these banks score well on financial inclusion and corruption, 7 out of 8 banks score zero on the themes of climate change and environment, and perform poorly in assessments on taxes, labour rights and human rights.
Fair Finance Guide India assessed policies of 8 banks: 4 public and 4 private. The analysis has been undertaken through the Fair Finance Guide International methodology encompassing a total of 10 ESG themes. This would be the baseline assessment for India. The assessment is supported by sector based case studies that draw out the impact investing linkage. The India coalition comprises of Oxfam India, Partners in Change, Praxis, Environics, Cividep and OpenSpace.