ESG Rating Disclosure for Bank of Maharashtra

Key Quantitative Figures

  • Overall ESG Score: 74.7 out of 100 (Excellent)
  • Pillar Scores: Environment: 16.5/23, Social: 27.3/35, Governance: 30.9/42
  • Assessment Coverage: 245 data points considered across 30 key factors
  • Undisclosed Data Points: 13 total (Environment: 5, Social: 5, Governance: 3)
  • Materiality Weightage: Environment 23%, Social 35%, Governance 42%

Rating Assignment Details

  • Rating Provider: GlobeTrend Climate Impact Pvt. Ltd.
  • Assessment Date: 29th June, 2026
  • Latest Review Date: 8th October, 2026
  • Reporting Boundary: Standalone
  • SEBI Industry Classification: Public Sector Bank (IN050102001)

Environmental Performance Highlights

  • Water Footprint: Total water withdrawal and consumption: 188,148 KL; Water intensity: 12.06 KL per employee; 80% discharged as wastewater
  • Energy Consumption: Total energy: 186,694 GJ; Renewable energy share: 1.19%; Energy intensity: 11.97 GJ per employee
  • GHG Emissions: Scope 1: 399 tCO2e (50% reduction YoY); Scope 2: 36,174 tCO2e (13% increase YoY); Intensity: 2.34 tCO2e per employee
  • Waste Management: Total waste generated: 79.6 MT; Hazardous waste: 70 MT (88%); Waste intensity: 0.0051 MT per employee
  • Green Initiatives: Solar power generation: 1,628,400 units; Funds raised for renewable energy: ₹670.6 crore; Green deposits growth: 168% YoY

Social Performance Highlights

  • Diversity & Inclusion: Female representation: 29.2%; Specially-abled employees: 2.6%; Gender pay ratio: 0.94
  • Employee Wellbeing: Employee turnover: 4.49%; Wellbeing spend: 0.17% of revenue; PF coverage: 19.13% of employees
  • Training & Development: 72% employees received training; 223,776 man-hours of training
  • Community Engagement: Priority sector advances: 35% of total; MSME lending growth: 16.1% YoY; PMJDY accounts: 8.67 million
  • Grievance Management: Zero discrimination, human rights, health & safety complaints; 11 shareholder complaints

Governance Performance Highlights

  • Data Security: Perfect score (100/100); ISO 27001 certified; Zero data breaches
  • Anti-corruption: Perfect score (100/100); Zero corruption incidents; Whistleblower policy in place
  • Board Composition: Female representation: 1 of 6 directors; Average attendance: 97.9%
  • Committee Performance: Audit Committee met twice; Risk Management Committee met once; No NRC meetings held
  • Climate Governance: Board-level oversight exists; No materiality assessment or scenario analysis conducted

Peer Comparison

Benchmarked against top 5 public sector banks by market capitalization (State Bank of India, Punjab National Bank, Canara Bank, Indian Bank, UCO Bank):

  • Environment Pillar: Bank of Maharashtra leads with 16.5 vs industry average
  • Social Pillar: Third highest at 27.3 (PNB leads with 29.4)
  • Governance Pillar: Highest at 30.9
  • Overall Ranking: Highest among peers (74.7 vs SBI 63.6, PNB 66.6, Canara 61.6, Indian 61.4, UCO 57.7)

Key Recommendations

Major Near-term Recommendations:

  • Conduct materiality and double-materiality assessments
  • Begin climate scenario analysis
  • Disclose through CDP and align with GRI framework
  • Hold NRC meetings and increase committee meeting frequency
  • Organize comprehensive ESG training for Board members

Major Long-term Recommendations:

  • Formalize climate governance framework
  • Improve retirement benefit coverage (currently 19.13% PF coverage)
  • Implement workplace assessment coverage for labor rights
  • Set science-based emissions reduction targets
  • Expand sustainable procurement program