Union Bank of India Assigned New ESG Rating of CareEdge-ESG 1+ by Care ESG Ratings
Union Bank of India received a new ESG rating of CareEdge-ESG 1+ with a score of 81.3 from Care ESG Ratings. The rating acknowledges strong governance and social stewardship, alongside proactive climate risk management. Key strengths include robust grievance redressal and data security, while weaknesses relate to emission intensity and gender diversity.
An ESG rating is an important factor for investors and stakeholders, influencing reputation and potentially cost of capital. While positive, it does not represent a direct financial transaction or immediate business change.
The company received a new ESG rating of '1+' with a high score, indicating a positive assessment of its environmental, social, and governance practices.
Union Bank of India (UBI) announced that on February 17, 2026, Care ESG Ratings Limited assigned a new ESG rating to the bank. The rating received is CareEdge-ESG 1+ with a score of 81.3.
The rating highlights UBI's strong governance and social stewardship, supported by comprehensive regulatory compliance, robust grievance redressal mechanisms, and inclusive workforce policies. The bank maintains compliance with regulatory requirements, including board-approved policies on business ethics, anti-corruption, whistleblower protection, and a code of conduct. UBI's cybersecurity framework is ISO/IEC 27000-certified, with a zero data breach record.
UBI's social score is strengthened by a high consumer complaint resolution rate (over 98%) and a customer satisfaction score of 96.10%. The bank also demonstrates a strong commitment to workforce inclusion, with differently-abled employees comprising 3.57% of the total workforce. Over 80% of its branches are located in underserved regions.
From a governance perspective, UBI exhibits sound oversight, regulatory compliance, and ethical conduct, underpinned by a well-structured board, strong risk management systems, transparent disclosures, and comprehensive policy coverage aligned with BRSR principles. The bank's consistent transparency and timeliness in financial reporting, along with a comprehensive Enterprise Risk Management System, stress testing, and adherence to ISO 31000 protocols, contribute to its strong governance score.
On the environmental front, UBI shows proactive climate risk integration, early adoption of PCAF for financed emissions measurement, and expansion of green finance. The bank has committed to net-zero emissions by 2035 and has integrated climate-related considerations into its Enterprise Risk Management and ESG framework. However, the environmental score is moderated by adverse transitions in emissions intensity metrics, with Scope 1 and Scope 2 emissions intensity per employee witnessing an increase.
Key strengths identified include proactive climate risk management, effective grievance redressal, commitment to diversity and inclusion, strengthened ethical governance, and a robust data security framework. Weaknesses noted are adverse transitions in emission intensity metrics, lack of a standalone human rights policy, and gender diversity gaps in senior management.
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