Bank of Baroda files BRSR for FY26 with net-zero targets
Bank of Baroda filed its Business Responsibility and Sustainability Report for FY 2025-26, outlining ESG targets such as net-zero emissions by 2057 and a 75% reduction in Scope 1 and 2 emissions by 2034. The report, assured by Ravi Rajan & Co LLP, highlights a 60% YoY growth in renewable energy financing and details environmental metrics including total energy consumption of 843,743.05 GJ.
*this image is generated using AI for illustrative purposes only.
Bank of Baroda has filed its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The filing, submitted under Regulation 34 of the SEBI (LODR) Regulations, 2015, details the bank's environmental, social, and governance (ESG) performance and sets specific targets for sustainability. The report received reasonable assurance from Ravi Rajan & Co LLP, the bank's statutory central auditor, for its core indicators.
The bank has established defined targets under its ESG Policy, including achieving net-zero emissions by 2057 and reducing Scope 1 and Scope 2 emissions by 75% by 2034. Additionally, the bank aims to increase renewable energy financing to 50% of total energy sector financing by 2029. During FY 2025-26, the bank strengthened its ESG framework through the launch of a Climate Risk Management Policy and a Sustainable Finance Framework.
Business Segments and Performance
The bank operates through five primary business segments, with corporate banking contributing the largest share of turnover at 35.20%. Retail banking and agriculture banking followed with contributions of 30.30% and 17.20%, respectively. The bank reported a robust 60% year-on-year growth in its Infra Power – Renewable Energy sector during FY 2026. It also won the Finance Asia Award for the Best Project Finance Deal related to a green hydrogen project.
| Segment | % of Turnover |
|---|---|
| Corporate Banking | 35.20% |
| Retail Banking | 30.30% |
| Agriculture Banking | 17.20% |
| MSME | 15.90% |
| Others | 1.40% |
Environmental Impact
The bank reported total energy consumption of 843,743.05 GJ for FY 2025-26, with 20,743.05 GJ sourced from renewable energy. Total Scope 1 and Scope 2 emissions were recorded at 157,425.11 metric tonnes of CO2 equivalent. The bank's water consumption stood at 920,887.88 kilolitres, while total waste generated amounted to 408.86 metric tonnes. The bank installed solar panels in 386 leased branches and 93 owned premises, resulting in a reduction of 10,433 tonnes of carbon dioxide emissions.
Social and Governance Metrics
Bank of Baroda employed a total of 76,075 individuals, with women constituting 26.85% of the workforce. The bank reported 13 complaints under the Sexual Harassment of Women at Workplace (POSH) Act during the year, all of which were resolved. The board of directors comprised 20% women. The bank also disclosed that it had paid a penalty of ₹61,40,000 to the Reserve Bank of India for non-compliance with certain directions regarding financial services and customer service.
Historical Stock Returns for Bank of Baroda
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.27% | -0.96% | +5.18% | -3.92% | +17.38% | +245.27% |
How will the bank's recent penalty for non-compliance impact its governance ratings and investor confidence?
What specific capital allocation strategies will be employed to achieve the 50% renewable energy financing target by 2029?
Will the success in the green hydrogen project finance deal lead to a dedicated vertical for emerging green technologies?
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