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YES Bank partners with CPLC

YES Bank became the first Indian bank to partner the Carbon Pricing Leadership Coalition (CPLC), a first of its kind Yes-Bank-Logo-7voluntary partnership of national and sub-national governments, businesses, and civil society organizations led by the World Bank Group. Launched in December 2015, during the COP21 climate negotiations in Paris by World Bank and other founding members, Carbon Pricing Leadership Coalition’s vision is to cover 25% of global GHG emissions by explicit carbon prices by 2020 and to double this again by 2030. The coalition currently has 25 government partners including Italy, France, Germany, Switzerland and United Kingdom and 89 private sector partners including Coca-Cola, Ernst & Young, Nestle, Philip, Unilever, Mahindra and Tata Group among others. YES Bank signed the partnership agreement at the CPLC High Level Assembly at the World Bank in the presence of Ban Ki-moon, UN Secretary General, Jim Yong Kim, president – World Bank Group and Christine Lagarde, MD, IMF. Rana Kapoor, MD & CEO of the bank, said the bank will have an excellent opportunity to integrate carbon pricing into its investment decisions, optimize operational performance by putting internal carbon pricing and mobilize finance towards it. Namita Vikas, group president and chief sustainability officer of the bank, said by joining CPLC the bank is positioning itself globally to leverage multi-stakeholder multilateral partnership for building capacity through knowledge banking and expand the space for effective climate action.

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