YES Bank

Article for Global Leadership Forum

YES BANK is proud to be associated with the Global Leadership Forum (GLF), co-hosted by the World Forum of Ethics in Business and The Art of Living Foundation. The world economy today, is more inter-connected and inter-dependant than before. Both political and managerial leadership strategies need to take cognizance of this evolution and platforms such as GLF are the need of the hour.

The real purpose of business, I believe, lies in our collective ability to create value for every individual, share wealth equitably, both tangible and intangible, accept that everyone has the same rights, and consistently act in the best interest of society.

YES BANK, since its inception in 2004, has believed in creating a sustained value for its stakeholders through social, economic and environmental dimensions. The Bank believes that integrated thinking – that which looks at value creation, not only financial, but also human, social, natural, intellectual and manufactured, is the way forward.

Today, with vast developmental challenges, there is a need to develop and adopt models based on integrated thinking that are unique, scalable and sustainable. These also need to be aligned with the global developmental agenda, thus making meaningful impact.

Given its role in infusing capital into the economy, the financial sector needs to play a proactive role as “catalysts for development” by creating innovative financial solutions that address developmental concerns, integrating environmental and social parameters into lending decisions,  investing in positive impact sectors, greening of their operations and mainstreaming social responsibility among stakeholders.

YES BANK's 'Responsible Banking' ethos, has enabled it to create shared value for its wider stakeholder spectrum. Through pioneering initiatives and business solutions that weave sustainable development into its core business strategy, YES BANK has striven to take a leadership role in delivering positive socio-economic impact on the ground and create a paradigm shift in the sector's approach to inclusive growth and national parity.

Across the world, targets for human development are similar, though in various permutations and combinations, such as access to quality, affordable education & healthcare, respecting and protecting the vulnerable sections of society, responsible consumption of natural resources, and eradication of hunger and malnutrition. Whilst these global challenges do need collective action, they also need ‘glocalized’ responses – global solutions in the local context.

Fading national boundaries and increasing global outlook & reach of the corporate sector, across the world and diverse communities, make it imperative to embed Corporate Social Responsibility (CSR) within business strategy and making a business case for CSR the highest priority for the corporate sector. YES BANK, with its Responsible Banking ethos, is effectively demonstrating the business case. For example, YES COMMUNITY, a unique Pan India community engagement initiative conducted across its 750 branches in India, has been able to create long term social impact and effect behavioural change. In 2014-15 alone, the Bank through its CSR interventions touched 7, 00,000 lives.

YES BANK’s Water & Livelihood Security initiative is another example of providing local solutions to global challenges. Adequate drinking water, sanitation, and hygiene are all essential ingredients to ensuring human health and livelihoods. YES BANK focuses primarily on water security and skill development because they have high direct and indirect impact on health, education and well being of a society. The Bank in 2014-15, impacted over 62,500 lives with safe and clean drinking water. As a part of its commitment towards COP21, the Bank has taken a commitment to bring safe and clean drinking water to 100 million lives by 2020, in addition to mobilizing USD 5 billion for climate action, target funding of 5,000 MW of clean energy and contribute towards creating a carbon sink by planting 2 million trees.

Such collective action are also in complete alignment, and contributing to, key Government initiatives in the development sector, such as the Swachh Bharat Abhiyaan, Skill India, Integrated Ganga Conservation Mission, and India’s Nationally Determined Contribution.

With 365 million young minds in India, the power of our youth cannot be comprehended in one word. India, today, has the world’s largest youth population and any collective action cannot ignore their power and passion. Hence, we believe it is important to influence their mindset through the use of innovative and popular mediums like films and social media.

YES Foundation’s flagship program, ‘YES! i am the CHANGE’, aims to bring a global mindset transformation through the medium of films, and has created a lasting impact, with 5 lakh participants from 2,500 cities and towns across all Indian states in 2015. The films produced by ‘YES! i am the CHANGE’ participants are creating ripples of change and inspiring participants and viewers alike towards social action. For example, Sudeshna Roy, a young participant in the program successfully used her film to raise funds for Pratima Devi, a rag-picker in Delhi who looks after 300 stray dogs. It is stories like these that drive us. This inner shift in thinking may be immeasurable, but it is invaluable and profound. It leads to inclusive social transformation in the society.

There is a lot to achieve, and only cohesive efforts from all would be able to bring in a sustained focus on changing mindsets and gaining mindshare, leading to a long lasting impact. At the end of the day, success is achieving inclusivity and overall sustainable development for India and the world.

 

Rana Kapoor
Managing Director & CEO
YES BANK Ltd.

Forest Essentials

Forest Essentials is proud to be associated with The World Culture Festival 2016 and the tremendous work being put behind this event to celebrate the unity and diversity in cultures from across the world.

In a world faced with rapid globalization, the importance of business ethics is greater than ever. The Global Leadership Forum is a tremendous platform that is bringing together distinguished business leaders from all around the world to discuss and question the modern paradigms of management and leadership.

At Forest Essentials India we believe business ethics and personal ethics go hand in hand.  Good leadership is leadership that is grounded in ethical norms and practices, and Good Governance is about how we as an organization, use the correct organizational processes to achieve our business goals.

Just like people, organizations have values, too. Strong leadership is essential in embedding ethical values in any size of organization. The management team sets the tone for how the entire company runs on a day-to-day basis. When management is leading an organization in an ethical manner, employees follow in those footsteps… and with consistent ethical behavior, come an increasingly positive public image and goodwill for the organization as a whole. A good reputation and goodwill is something that cannot be bought but has to be earned and rewards you eventually with opportunity, credibility, endorsement and trust.

We believe that several factors play a role in the success of a Company, that are beyond the scope of financial statements alone. Organizational culture, management philosophy and ethics in business each have an impact on how well a business performs in the long term. No matter the size, industry or level of profitability of an organization, business ethics are one of the most important aspects of long-term success.

Corporate responsibility is a phrase heavily used in the business world, often mentioned to enhance the image of an organization. To us, corporate responsibility simply means that each individual within a company is practicing personal and professional responsibility an objective and accountable manner. Forest Essentials takes its Corporate Social Responsibility very seriously. This has always been inherent in our DNA with setting up our first workshop in a remote part of the Himalayas, to providing employment and an alternate source of income for the local population, especially women.

In today’s world, Ethics comes into play in the decisions you make every day. This is because, not all behavior that is unethical is illegal. The right decisions are not always easy to make, there are always some gray areas depending on how you approach a certain situation. Companies frequently are faced with ethical dilemmas that are not necessarily illegal but are just as important to navigate.

In these situations, Companies are often faced with the question of what is the importance of “Doing the right thing”, when you have a choice of actions that would lead to multiple consequences. Hence forums like the GLF are of utmost importance, where the young leaders of the world come together, exchange ideas and experiences that would help shape a better world for tomorrow.