Natural Capital

One Goal: Leaving Every Place Better and Promoting a Better World

At SBI Life, we are committed to making a real difference in environmental sustainability. Our impactful initiatives in energy conservation, water conservation, waste management, and digitalisation underscore our dedication to protecting the planet.

Towards a Greener and Better Planet

We are dedicated to fostering environmental stewardship through our comprehensive approach, reflecting our resolve to minimise our environmental footprint.

Being a financial services entity, our focus on the environment is driven primarily by how we recycle and what we consume. As part of our 'Go Green Initiative', we have adopted various measures on energy conservation, waste management, and promoting sustainable practices including recycling and utilising eco-friendly materials.

Additionally, we have implemented initiatives such as hybrid work model and virtual meetings with clients, which have reduced our travel-related energy requirements.

While we are actively contributing towards creating a greener and more sustainable future through our efforts, we also strive to monitor the environmental footprint of our own operations, aiming to inspire our value chain partners.

Key Environmental InitiativesEnergy and Emissions Management

Our efforts in energy conservation and switching to cleaner sources of energy are crucial for us to reduce impact on the environment. They help us achieve our key objectives of reducing dependence on non-renewable sources of energy, enhancing business resilience and improving cost efficiency.

One of our key objectives in our environmental efforts is to encourage responsible consumption and reduce energy usage. We have implemented various measures to reduce energy consumption within our physical premises. Furthermore, the Company has implemented a comprehensive monitoring system to track energy consumption and greenhouse gas (GHG) emissions. By prioritising energy conservation and clean energy adoption, we are gradually aligning our operations with global sustainability goals and contributing towards an environmentally responsible and economically efficient future.

In FY 2024, we initiated using renewable energy at few branches in Bangalore. We intend to move to use renewable energy upto 10% of our energy consumption and reduce our emission levels.

Material Topics
  • Environment impact and climate change
  • Responsible investment
SDGs Impacted
Reducing Energy Intensity

Our energy intensity is currently at 9.49*10-8 GJ/₹, which has been achieved by encouraging responsible energy consumption. By actively investing in energy conservation initiatives, including the use of the latest energy-efficient equipment, we strive to limit our environmental impact.

Key Steps Taken

Our branches are getting equipped with energy-saving devices, temperature control measures and regulated hours for energy usage. We seek devices equipped with latest technologies and consuming electricity efficiently, such as LED devices and light sensors. Further to this, we are also improving air quality within our office premises by placing plants.

In addition to consistently investing in state-of-the-art energy-efficient equipment, we have proactively taken following steps towards energy conservation.

  • Motion sensors have been installed in the meeting rooms
  • Equipment with a 5-star energy efficiency ratings are prioritised
  • We encourage the use of virtual meetings as an alternative to physical meetings, aiming to reduce the need for air travel and its associated environmental impact
Feasibility Study on Viability of Power

As per feasibility study conducted to assess viability of power generated through solar rooftop panels, these panels have the capability to decrease electricity load of our office building by up to 35%, compared to the current demand. We have also made a significant contribution towards creating a greener planet by actively maintaining plantations and promoting renewable energy.

Total Energy Consumption (in GJ)
(Non-renewable Sources) and Energy Intensity (Non-renewable Sources)*

76,726.77 GJ

Total Electricity Consumption

555.36 GJ

Total Fuel Consumption

77,282.13 GJ

Total Energy Consumption

9.49*10-8 GJ/₹

Energy Intensity per Rupee of Turnover

Our GHG Emissions*

2,735.11 MTCO2e

Scope 1

15,260.10 MTCO2e

Scope 2

*The data of the key business offices including corporate office, processing centres and regional offices have been considered for energy estimation.

Waste Management

Efficient waste management has been a key focus area at SBI Life to improve our operational efficiency and to minimise our impact on the environment. We believe in Reduce, Reuse and Recycle, and remain committed to reducing waste through effective recycling and reuse strategies.

We are reducing waste generation, and more specifically, the use of paper.

We manage solid waste generated through our operations in an effective and efficient manner, and are constantly seeking opportunities to recycle e-waste (electronic waste), such as computers, printers, switches and scanners. We ensure proper disposal of e-waste by recycling it through authorised recyclers.

In another key initiative, we have discontinued single-use plastic water bottles across our offices and replaced them with glass bottles and reusable glasses.

We also implemented an eco-composter in our office premises, where leftover food is converted into organic manure for plants in the premises. This compost serves as nourishing fertiliser for maintaining the greenery within our office environment.

Key Highlights
  • Recycled 0.075 MT of plastic waste at the Head Office
  • Transitioned from plastic folders to paper folders, further reducing plastic consumption
  • 2,669 kgs of electronic waste (e-waste)
  • Converted 228 kgs per month of wet waste into compost using an eco-composter machine
  • To maximise value of our IT investments, we have implemented a comprehensive IT Assets buyback policy with vendors through which vendor has taken 1,857 assets back.
Water Management

Being a financial services company, our water usage is limited to domestic purposes, such as restroom facilities, cafeteria and cleaning purposes. Nonetheless, we take adequate precautions to conserve the natural resource.

We are taking proactive steps to maintain a positive water footprint and ensure responsible water management through innovative practices that promote conservation and optimise water usage. We have also installed a rainwater harvesting system, with the collected rainwater water being used for cooling towers in our air-conditioning system.

Key Highlights
  • Reused 4,200 litres of water by repurposing drinking water from staff water bottles to water garden plants
  • In FY 2024, an average of 158 KL of water per month was treated by Sewerage Treatment Plan at SBI Life, Natraj premises
  • Equipped some of our offices with sensor-based taps
Embracing Digitalisation

In addition to the above initiatives, we have embraced digitalisation to further our investment goals. The Company is making conscious efforts to reduce its environmental footprint by increasing its digital footprint and creating awareness amongst its stakeholders.

We provide end-to-end digital solutions within each aspect of our business and also provide 24x7 customer service. Furthermore, our operational processes, including fund statements, onboarding and customer service, have been digitised, leading to a substantial reduction in paper usage and making our processes more environmentally friendly. Our digital initiatives have also helped in significantly reducing paper wastes.

Key Highlights
  • 99% of new individual policies sourced digitally, reducing paper usage
  • 96% of renewal premiums collected digitally, with renewal premium intimations and receipts sent electronically