SBI's Green Initiative: Paving the Path to a Sustainable Future

The State Bank of India (SBI) aims to increase its green advances to 7.5-10% by 2030. It launched CHAKRA to finance renewable energy sectors. SBI's Green Marathon promotes environmental responsibility, aligning with India's sustainability goals. The bank seeks carbon neutrality by 2030 and Net Zero by 2055.

The State Bank of India (SBI), the nation's largest lender, has announced its ambitious target to increase its green advances to between 7.5 and 10 percent by 2030. The strategy includes raising 25 percent of these through green lines of credit, signifying SBI's commitment to sustainable growth.

To further its vision, SBI has launched CHAKRA, a Center of Excellence dedicated to financing emerging sectors like renewable energy, electric mobility, and green hydrogen. In a statement, the bank highlighted its effort to accelerate India's green transition.

Reinforcing its dedication to environmental stewardship, SBI recently held its sixth SBI Green Marathon in Mumbai. The event drew over 10,000 participants under the theme 'Run For A Greener India', embodying the bank's commitment to promoting sustainable living and climate responsibility.

(With inputs from agencies.)