PlanningforNetZero:BestPracticesforIndianBanksandNBFCsADiscussiononLessonsLearnedfromGlobalBanksReport/November2024RMIisanindependentnonprofit,foundedin1982asRockyMountainInstitute,thattransformsglobalenergysystemsthroughmarket-drivensolutionstoalignwitha1.5°Cfutureandsecureaclean,prosperous,zero-carbonfutureforall.Weworkintheworld’smostcriticalgeographiesandengagebusinesses,policymakers,communities,andNGOstoidentifyandscaleenergysysteminterventionsthatwillcutclimatepollutionbyatleast50percentby2030.RMIhasofficesinBasaltandBoulder,Colorado;NewYorkCity;Oakland,California;Washington,D.C.;Abuja,Nigeria;andBeijing.RMIhasbeensupportingIndia’smobilityandenergytransformationsince2016.AuthorsandAcknowledgementsAuthorsAkshimaGhateLilaHolzmanWeitingLiJamesMitchellRiyaSaxenaKaustavSoodAuthorslistedalphabetically.AcknowledgementsTheauthorswouldalsoliketothankthefollowingorganisationsandindividualsforofferingtheirinsightsandperspectivesonthiswork:RMINicholasDoddElizabethHarnettTomWhiteSamKooijmansCPINehaKhannaContactsFormoreinformation,contactindiainfo@rmi.org.CitationandCopyrightsPlanningforNetZero:BestPracticesforIndianBanksandNBFCs,RMI,2024,https://rmi.org/insight/planning-for-net-zero-best-practices-for-indian-banks-and-nbfcs/.Theviewsandopinionsexpressedinthisdocumentarethoseoftheauthorsanddonotnecessarilyreflectthepositionsoftheirinstitutionsorgovernments.Whileeveryefforthasbeenmadetoverifythedataandinformationcontainedinthisreport,anymistakesoromissionsareattributedsolelytotheauthorsandnottotheorganisationstheyrepresent.Thereportdoesnotendorseanycompany,organisation,orindividualmentionedinthereport.TheauthorsvaluecollaborationandsupportIndia’senergytransitionthroughsharingknowledgeandinsights.Wethereforeallowinterestedpartiestoreference,share,andciteourworkthroughtheCreativeCommonsCCBY-SA4.0license.https://creativecommons.org/licenses/by-sa/4.0/.AllimagesusedarefromAdobeStock.comunlessotherwisenoted.TableofContentsExecutiveSummary...............................................................................................................5Introduction...............................................................................................................................8BottleneckstoUnlock.......................................................................................................10BestPractices.........................................................................................................................12DataandMetrics...........................................................................................................................................................................12ClientandStakeholderEngagement.....................................................................................................................................16Products..........................................................................................................................................................................................20Governance.....................................................................................................................................................................................23CapacityBuilding......................................................................................................