Union Bank of India’s Participation & Contribution at Mumbai Climate Week
Mumbai : Union Bank of India participated at the Mumbai Climate Week (MCW) 2026, the Global South’s city‑led platform for accelerating climate action, being held from February 17th –19th, 2026 at the Jio World Convention Centre, Bandra Kurla Complex, Mumbai.
The Bank unveiled three leadership documents developed jointly with leading think tanks, to help translate ambition into investable action for the Indian industry.
1) Decarbonising steel & cement sector (developed jointly with GIZ, German Agency for International Cooperation). The document present technology pathways for decarbonization in hard-to-abate sectors, implementation strategy, maturity level, low carbon technologies and financing mechanisms.
2) Climate Scenario Modelling for Transition Planning (developed jointly with CEEW, Council on Energy, Environment and Water). The document highlights the Bank’s pioneering work in using the GCAM (Global Change Analysis) Model for developing climate scenarios specific to India. The document covers usage of the model in climate risk & opportunity analysis and integration into transition planning.
3) Operational Decarbonization & Net‑Zero Roadmap (developed jointly with E&Y, Ernst & Young). This document, details how the Bank is embedding its Net Zero 2035 (Scope 1 and 2) commitment into operational, strategy & processes.
Apart from the aforesaid, the Bank also launched an industry-leading certification for capacity building titled “ESG Certification Program for Indian Banks” developed jointly by the Bank with CPI (Climate Policy Initiative).
The Bank conducted “the Union Bank Climate Dialogue” on transition of hard to abate sectors which involved industry representatives, think-tanks, regulators, financial institutions, investors, rating agencies and other stakeholders. The dialogue deliberated on the low carbon technologies, available data related challenges, policy expectations, regulatory development, demand side pressure and financial instruments available for transition
As part of this prestigious event, the Bank announced recent recognitions from the rating agencies aligned to its sustainability strategy. They are – CareEdge ESG Rating: “CareEdge ESG 1+” — reflecting Union Bank’s leadership position in the ESG space & Moody’s Second Party Opinion (SPO): SQS2 — “Very Good Sustainability Quality” assigned to Union Bank of India’s Sustainable Financing Framework. SQS2 is the second‑highest level on Moody’s Sustainability Quality Score scale underscoring the Bank’s strong commitment to sustainable and responsible financing.
Union Bank of India remains committed to translating climate ambition into investable action. Through strong ESG governance, credible frameworks, partnerships across industry and the knowledge ecosystem, the bank will continue to finance India’s low‑carbon transition and create lasting value for the customers, shareholders, and the stakeholders at large.
