- Signs MoU with the Office of Collector, Mumbai Suburban for the tree plantation drive; possibly largest such initiative by an Indian corporate
- To improve air quality in the city
MUMBAI, India, March 6, 2023 /PRNewswire/ -- HDFC Bank, India's leading private sector bank, announced the launch of a tree plantation drive in Mumbai. It has signed an MoU with the Office of the Collector, Mumbai Suburban to plant 30 lakh trees across Mumbai city. This activity is part of #Parivartan, HDFC Bank's umbrella brand for all environmental, social, and governance (ESG) initiatives.
The tree plantation drive was launched by Shri Rajendra Bhosale, Honourable Collector, Mumbai Suburban and Ms. Ashima Bhat, Group Head, HDFC Bank; at Mantralaya in Mumbai. Other dignitaries present at the launch event included, the Honourable Chief Minister, Mr Eknath Shinde, the Deputy Chief Minister Mr. Devendra Fadnavis, and the Guardian Minister for Mumbai Suburban Mr. Mangal Prabhat Lodha.
The Air Quality Index (AQI) level in Mumbai has shown significant deterioration. The bank is highly concerned about the rising levels of pollution across the country which also poses a serious threat to the health of India's financial capital.
The large-scale tree plantation will contribute to reducing pollution, improving the local ecosystem the overall biodiversity. As part of its strategy to combat climate change, the Bank is engaged in wide scale tree plantation and has already planted more than 25 lakh trees. The project is also in line with United Nation's 'Sustainable Development Goal' on combatting Climate Change and the Government of India's 'National Clean Air Programme'.
Speaking at the launch event, Ms. Ashima Bhat, Group Head, CSR and ESG, Business Finance and Strategy, Administration and Infrastructure, HDFC Bank said, "The Bank is committed to the city and the state and will work closely with the government in order to increase the green cover for the city. The bank is poised to collaborate with institutions and state governments."
HDFC Bank is amongst the largest corporate CSR spenders in the country. The key focus areas under #Parivartan include care for climate, rural development, education, skill development, healthcare & hygiene, and financial literacy. The Bank has installed 41,800+ solar lights and constructed 10,500+ water conservation structures until Dec 2022.
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