SBI Sets Ambitious Target for Green Advances by 2030
India's largest public sector bank, State Bank of India (SBI), has announced a strategic plan to significantly increase the proportion of green advances in its loan portfolio. The bank aims to raise this share to between 7.5 and 10 percent by the year 2030, as part of its commitment to supporting India's transition towards sustainable financing and low-carbon economic growth.
Current Portfolio and Funding Strategy
As of March 31, 2025, SBI's green advances portfolio accounted for 1.56 percent of its total advances, according to a recent statement reported by PTI. To achieve its ambitious target, the bank has outlined that 25 percent of these green advances will be funded through dedicated green lines of credit, ensuring focused financial support for environmentally friendly projects.
Launch of CHAKRA: A Centre of Excellence
In a move to strengthen its sustainability framework, SBI has introduced CHAKRA, a Centre of Excellence designed to finance sunrise sectors critical to India's green transition. This initiative targets industries such as renewable energy, electric mobility, and green hydrogen, aiming to accelerate investments that align with national climate goals while expanding financing opportunities in emerging climate-focused sectors.
SBI Green Marathon: Promoting Public Participation
Reinforcing its environmental commitment, SBI recently hosted the sixth edition of the SBI Green Marathon in Mumbai. Under the theme "Run For A Greener India," the event attracted over 10,000 participants across 5 km, 10 km, and 21 km categories. SBI Managing Director Rama Mohan Rao Amara emphasized the importance of individual and collective action, stating, "Sustainability is integral to our purpose, and the Green Marathon symbolizes our belief that meaningful climate action begins with individual responsibility and scales through collective commitment."
Broader Sustainability Goals and Initiatives
SBI has pledged to achieve carbon neutrality in its operations by 2030 and Net Zero emissions by 2055, coinciding with its centenary year. The Green Marathon, launched in 2018, has grown into a nationwide initiative aligned with India's Mission LiFE (Lifestyle for Environment), encouraging environmentally responsible behavior among citizens. The sixth season commenced in Lucknow and covered 17 cities, including Mumbai, reflecting the bank's dedication to fostering a sustainable, inclusive, and resilient economy.
This comprehensive approach underscores SBI's role in financing India's green transition and enabling collective climate action, positioning it as a leader in sustainable banking practices.
