Yes Bank Limited — Important, 25-01-2025: Updates

YES Bank has provided a disclosure regarding the utilization of proceeds from its Green Infrastructure Bonds, specifically for the quarter ending December 31, 2024. The bank raised INR 1,000 crore through its February 2015 bond and INR 315 crore through an August 2015 bond, financing eligible renewable energy projects such as wind and solar.

As of the end of December 2024, the bank confirmed that all proceeds from the February 2015 issuance have been allocated to specific projects, with total estimated CO2 emission avoidance attributed to these projects of approximately 265,024 metric tons annually. However, proceeds from the August 2015 issuance remain unallocated, with intended investments declared by the bank.

The verification conducted by DNV Business Assurance India highlighted compliance with the Green Bond Principles, reinforcing a positive outlook for the bank's commitment to sustainable financing in the renewable energy sector. Investors should watch closely for future allocations and updates regarding unutilized proceeds.