Union Bank of India Showcases Leadership at Mumbai Climate Week 2026
The Bank hosted the Union Bank Climate Dialogue focusing on the transition of hard-to-abate sectors
Union Bank of India actively participated in Mumbai Climate Week (MCW) 2026, the Global South’s city-led platform for accelerating climate action, held from February 17–19, 2026 at the Jio World Convention Centre, Bandra Kurla Complex, Mumbai.
During the event, the Bank unveiled three major leadership documents developed in collaboration with leading global and national think tanks, aimed at translating climate ambition into actionable and investable pathways for Indian industry.
Key Knowledge Publications
1. Decarbonising Steel & Cement Sector
Developed jointly with GIZ (German Agency for International Cooperation), the document outlines technology pathways for decarbonising hard-to-abate sectors. It covers implementation strategies, maturity levels of low-carbon technologies, and financing mechanisms required to enable transition.
2. Climate Scenario Modelling for Transition Planning
Prepared in collaboration with Council on Energy, Environment and Water (CEEW), the report highlights the Bank’s pioneering use of the Global Change Analysis Model (GCAM) to develop India-specific climate scenarios. The framework supports climate risk and opportunity assessment and integrates transition planning into financial decision-making.
3. Operational Decarbonization & Net-Zero Roadmap
Developed jointly with Ernst & Young (E&Y), the roadmap details how the Bank is embedding its Net Zero 2035 (Scope 1 and Scope 2) commitment into operational strategies, governance structures, and internal processes.
Launch of ESG Certification Programme
The Bank also launched an industry-leading capacity-building initiative — the “ESG Certification Program for Indian Banks”, developed in partnership with Climate Policy Initiative (CPI), aimed at strengthening ESG capabilities across the banking sector.
Union Bank Climate Dialogue
As part of the programme, the Bank hosted the Union Bank Climate Dialogue focusing on the transition of hard-to-abate sectors. The dialogue brought together industry representatives, regulators, financial institutions, investors, rating agencies, and policy experts to deliberate on low-carbon technologies, data challenges, regulatory developments, policy expectations, demand-side pressures, and financial instruments supporting transition.
Recognition for Sustainability Leadership
During the event, the Bank announced key recognitions aligned with its sustainability strategy:
- CareEdge ESG Rating: “CareEdge ESG 1+”, reflecting leadership in ESG performance.
- Moody’s Second Party Opinion (SPO): SQS2 — “Very Good Sustainability Quality” assigned to the Bank’s Sustainable Financing Framework, the second-highest level on Moody’s Sustainability Quality Score scale.
Reaffirming its commitment, Union Bank of India stated that through strong ESG governance, credible frameworks, and collaborative partnerships, the Bank will continue to finance India’s low-carbon transition while creating long-term value for customers, shareholders, and stakeholders.
