Extreme Weather Puts Debt Worth $84 Billion At Risk at India s Top Banks Extreme Weather Puts Debt Worth $84 Billion At Risk at India s Top Banks The country s largest lender, HDFC Bank, IndusInd Bank Ltd. and Axis Bank Ltd. are among the institutions that reported climate risks to CDP in 2020, it said in its annual report released Wednesday.
The banks flagged exposure to environmentally sensitive businesses including cement, oil and power.
An increase in extreme weather events such as floods, droughts and cyclones risk souring debt worth more than 6.19 trillion rupees ($84 billion) at India s biggest financial institutions.
That s according to leading nonprofit environmental disclosure platform CDP. State Bank of India, the country s largest lender, HDFC Bank, IndusInd Bank Ltd. and Axis Bank Ltd. are among the institutions that reported climate risks to CDP in 2020, it said in its annual report released Wednesday.