Punjab National Bank sets net zero target for 2060 in FY26 BRSR
Punjab National Bank's FY26 Business Responsibility and Sustainability Report outlines a net zero target for 2060 and details its environmental and social performance. The bank reported Scope 3 emissions of 66.15 million tonnes CO2e, a 49.6% reduction in customer complaints, and investments in solar power infrastructure.
*this image is generated using AI for illustrative purposes only.
Punjab National Bank has set a long-term goal of achieving net zero emissions by 2060, aligning with national climate commitments, as detailed in its Business Responsibility and Sustainability Report for FY26. The report, which covers the financial year ended March 31, 2026, highlights the bank’s environmental initiatives, including the installation of rooftop solar power systems and a focus on green financing. The bank has also set a Net Zero target year of FY2031 for Scope 1 and Scope 2 emissions.
Environmental Performance
The bank reported total Scope 1 emissions of 10,075 metric tonnes of CO2 equivalent and Scope 2 emissions of 1,64,328 metric tonnes of CO2 equivalent for FY26. Total Scope 3 emissions were significantly higher at 6,61,52,620.88 metric tonnes of CO2 equivalent, primarily driven by financed emissions. To mitigate its environmental impact, the bank invested ₹4.63 crore in capital expenditure towards rooftop solar power installation, covering 65 buildings nationwide with a total capacity of 1504 kWp.
| Parameter | FY 2025-26 |
|---|---|
| Total Scope 1 Emissions (MtCO2e) | 10,075 |
| Total Scope 2 Emissions (MtCO2e) | 1,64,328 |
| Total Scope 3 Emissions (MtCO2e) | 6,61,52,620.88 |
| Total Energy Consumed (GJ) | 10,96,564 |
| Total Waste Generated (MT) | 43.53 |
Social and Governance Metrics
The bank serves over 18.53 crore customers through a network of 10,324 branches and 11,065 ATMs. As of March 31, 2026, the bank employed 1,03,193 individuals, with women comprising 25.34% of the workforce. The board of directors includes two women, representing 22.22% of the nine-member board.
Customer grievances saw a significant decline during the year. The bank received 5,74,498 complaints in FY26, a 49.60% decrease compared to the previous year. Of these, 7,331 complaints were pending resolution at the end of the year. The bank maintains a zero-tolerance policy towards corruption, with no instances of fines, penalties, or disciplinary actions reported for bribery or corruption during the year.
Assurance and Oversight
The Sustainability and Resilience Committee, headed by the MD & CEO, governs sustainability issues at the bank. M/s Ummed Jain & Co., the Central Statutory Auditor, provided reasonable assurance for the BRSR Core indicators. The bank’s financing framework for green, social, and sustainability-linked activities was externally reviewed by CARE Analytics and Advisory Private Limited.
Historical Stock Returns for Punjab National Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.14% | +1.09% | -6.66% | -16.64% | +1.44% | +144.76% |
What specific strategies will Punjab National Bank implement to reduce the massive Scope 3 financed emissions, which constitute the bulk of its carbon footprint?
How will the bank balance its 2060 net zero goal with the potential increase in financed emissions as it expands its loan book?
What interim targets has the bank established between FY2031 and 2060 to ensure consistent progress toward its long-term net zero objective?
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