Published Online:September 2026
Product Name:The IUP Journal of Financial Risk Management
Product Type:Article
Product Code:IJFRM020926
DOI:10.71329/IUPJFRM/2026.23.3.31-56
Author Name:Niru Nisha Bharti and Shashi Srivastava
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:31-56
This paper examines State Bank of India’s (SBI) sustainability evolution through a longitudinal analysis of annual reports and BRSR disclosures, evaluating operational decarbonization, green financing growth, and ESG governance maturity amid the Reserve Bank of India’s (RBI) climate mandates. The paper uses a mixed-methods content analysis approach, applying NVivo thematic coding across ESG pillars to integrated annual reports, GRI-indexed sustainability reports, and BRSR sections (FY2021-2025). Quantitative metrics (energy/GHG intensity, green portfolio CAGR) are benchmarked against PSB peers using BRSR tables. PSB peers benchmarked are Punjab National Bank (PNB) and Bank of Baroda (BoB). SBI achieved 25% energy intensity reduction and 59% Scope 1+2 GHG decline, surpassing peers. Green portfolio grew at 33.3% CAGR, supporting India’s 500 GW RE target. BRSR compliance reached 85% Leadership Indicators with assured emissions data, though financed Scope 3 gaps persist.
Sustainability has moved from the margins of corporate reporting to the center of strategic decision-making, particularly in financial institutions where lending and investment choices shape the pace of economic transition. In the banking sector, sustainability is no longer limited to internal resource efficiency; it now includes responsible lending, climate-aligned financing, social inclusion, governance quality, and transparency in reporting. State Bank of India (SBI), as the largest public sector bank in India, occupies a uniquely important position in this transition because its policies and portfolio choices influence a large segment of the country’s financial system and development agenda. Against this backdrop, the present study examines SBI’s sustainability performance through its annual reports and sustainability disclosures, focusing on how the bank has integrated environmental, social, and governance (ESG) considerations into its operations and strategic priorities.