- Background of SBI GREEN FUND
As the premier public sector bank of the country, SBI strongly believes it is its responsibility and the right corporate culture to safeguard the environment by transforming India into a digital nation. To take forward our Hon’ble Prime Minister’s ambitious vision of Digital India, SBI launched “Yono SBI” – a first of its kind omni-channel digital platform on 24th November, 2017. SBI, caters to varied needs of customers viz. banking products & services, investments, insurance, credit cards and hosts a variety of e-commerce ventures in a single place.
It has been SBI’s continuous endeavour to educate and migrate its’ customers from paper-based banking to digital banking through “Yono SBI” and to contribute to society in particular and the nation at large for a greener today and tomorrow by following sustainable practices. SBI, therefore, adopted ‘sustainability’ as one of its core values in 2017.
However, we felt a dire need of bringing our customers on board for this journey to promote sustainability which is a vital way to protect the environment collectively. Consequently, SBI launched “SBI Green Fund” to allow customers to participate in the sustainability mission by contributing their reward points. This measure demonstrates SBI’s core value system and is a reminder of its commitment towards society and preserving nature for future generations.
- Vision of SBI GREEN FUND
The SBI Green Fund aims to promote activities which directly contribute to sustainability such as plantation of trees, construction of bio-toilets, Water conservation - construction of Reverse Osmosis (RO) plants, Waste management program - avoidance of single use plastic, Providing solar lights/lamps/panels etc.
- Activities supported through SBI GREEN FUND
- Contribute to COVID-19 Relief Fund
SBI foundation has launched a COVID-19 relief fund for implementing various initiatives to strengthen the healthcare infrastructure and diagnostics facilities, ensure effective patient management, meet the nutritional requirement of individuals infected, capacity building of healthcare professional, and a helpline to address psychological concerns that have arisen due to the pandemic. A certain portion of this fund would also be allocated to promote research and innovation efforts to combat the corona virus.
- Tree Plantation
Planting trees is one of the easiest and most sustainable ways to positively affect the environment. Therefore, at a time when climate change and global warming are threatening to redefine our future, we need to act drastically to stop this catastrophe. Increasing the green coverage by conducting tree plantation drives and engage in social forestry in identified areas which have been hard-hit with tree loss. We plan to plant approximately 5 million trees through contributions from SBI GREEN FUND.
- Construction of Bio-Toilets
Since 2014, eight crore toilets have been built and we now have a new challenge in the form of untreated sewage ahead of us. Bio-toilets are one eco-friendly solution to this problem. Bio-toilet is a decomposition mechanised toilet system which decomposes human excretory waste in the digester tank using specific high graded bacteria (aerobic or anaerobic) further converting it into methane gas and water. Bio-toilets should be treated as priority in the sanitation revolution in India. Bio-toilets are not only affordable but most importantly reduce the water usage. We aim to construct 4,000 bio-toilets through contributions from SBI GREEN FUND.
- Water Conservation – Construction of RO Plants
Today, India is confronted with a very severe water crisis which is largely man-made in nature. 2,00,000 people die due to inadequate access to clean water each year. According to NITI Aayog, 70% of water resources in India are polluted. The contemporary water crisis is dehydrating, disturbing and undermining the foundation of the existence of all living beings. Through contributions from SBI GREEN FUND, we plan to kick-start a Water Conservation project in identified 10 cities/towns which are stressed due to non-availability of clean drinking water. A minimum of one RO plant would be set-up in each of these cities/town.
- Waste Management Program – Avoidance of Single-Use Plastic
60 Indian cities generate 4,059 tonnes of plastic i.e. 405 truckloads every day. India uses 14 million tonnes of plastic annually. According to the United Nations, plastic waste is at epidemic proportion in the world’s oceans with an estimated 100 million tonnes dumped there to date. Through contributions from SBI GREEN FUND, we plan to run a waste management program to curtail use of single-use plastic in identified cities/towns which are high on environmental pollution levels due to excessive use of plastic.
- Providing Solar Lamps/Lights/Panels
Renewable and clean energy is what will make our planet better for the coming generations. The climate crisis today demands bold action and therefore, to make our future look resilient, it is time to adopt sustainable solutions like solar energy. In an effort to reduce carbon footprint and promote sustainable living, we will provide a solar power panel/light/lamp to individual households in identified 5 cities/towns through contribution from SBI GREEN FUND.
- Contribute to COVID-19 Relief Fund