SBI Cards ESG score rises to 80.2 in FY26 on environmental gains
- Adjusted ESG score improved to 80.2 in FY26 from 79.7 in FY25
- Environmental pillar rose to 76 due to lower emissions and higher renewable energy use
- Governance score increased to 82 on board diversity and ESG-linked pay
- Social pillar remained flat at 80 despite high cyber security scores
- Rating agency flagged gaps in non-permanent workforce training coverage
*this image is generated using AI for illustrative purposes only.
SBI Cards and Payment Services Limited disclosed an adjusted Environmental, Social, and Governance (ESG) score of 80.2 for FY26, an increase from 79.7 in the previous fiscal year. The rating was assigned by SES ESG Research Private Limited based on data for the financial year ended March 31, 2026.
The company notified the stock exchanges on September 4, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report highlights improvements across the environmental and governance pillars, while social performance remained broadly stable.
Pillar-wise Performance
The overall improvement was driven by specific gains in the environmental and governance categories. The social pillar score remained unchanged at 80, while the environmental pillar rose from 75 to 76 and the governance pillar increased from 81 to 82. Governance carries the highest weightage in the evaluation model at 45%, followed by social at 38.5% and environment at 16.5%.
| Pillar | FY25 Score | FY26 Score | Weight |
|---|---|---|---|
| Environment | 75 | 76 | 16.5% |
| Social | 80 | 80 | 38.5% |
| Governance | 81 | 82 | 45% |
What the Numbers Show
While the company achieved a perfect 100 score for cyber security and data privacy with zero reported breaches, the social pillar remains constrained by workforce coverage gaps. The report notes that 87% of the total workforce consists of non-permanent employees who were not covered for skill development and health and safety training. Additionally, a material gender pay gap exceeding 20% was observed between male and female employees.
Environmental and Governance Drivers
The environmental score improved due to lower non-renewable energy consumption and reduced Scope 1 and Scope 2 emissions. Renewable energy usage increased, accounting for 7.54% of total energy consumption in FY26, up from 2.61% in FY25. Approximately 93% of waste was recovered through recycling and reuse methods.
Governance improvements were attributed to greater board diversity and the introduction of ESG-linked remuneration for executives. The company reported zero regulatory penalties and zero bribery cases during the period. However, the rating agency noted concerns regarding prolonged director associations and non-disclosure of individual independent directors' fees.
Historical Stock Returns for SBI Cards
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.42% | +2.05% | -1.02% | -11.82% | -17.24% | -40.61% |
How might SBI Cards address the 20% gender pay gap and expand skill development coverage to its 87% non-permanent workforce to improve its Social pillar score?
What specific initiatives is the company planning to increase renewable energy usage beyond the current 7.54% to further boost its Environmental rating?
Could the lack of disclosure regarding individual independent directors' fees impact investor confidence or trigger stricter regulatory scrutiny under SEBI guidelines?
15
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
