Our Purpose
Our purpose is to help Our Customers, Colleagues and Communities prosper. We achieve this by operating consciously and sustainably with environmental, social and governance principles relevant to the Group(OSB) at heart.
Our pillars
What is ESG?
ESG is a collective term for a business’s impact on the environment and society as well as how robust and transparent its governance is in terms of leadership, audits, internal controls, and shareholder rights. At OSBI we believe that we all play a vital role in fighting climate change and supporting sustainability. This means carrying out our business fairly, honestly and ethically across all our business activities. We strive to have a positive impact on our customers communities and the environment and aspire to create a safe and sustainable future for our customers, colleagues, and communities to prosper.
Environment
We act with conscience and consider social, environmental and ethical factors at all times. We're committed to supporting sustainability and giving back to our environment by making small but consistent changes to the way we do things. Sustainability – in it for the long run! Climate change is the most pressing challenge facing our planet and we are acutely aware of the threat climate change poses not just to our business, but far more importantly, to how we live our lives, be it our customers, colleagues, suppliers, or communities.
Social
Giving something back to our community is important to all of us, whether that's volunteering, fundraising or partnering with charities that impact the communities we operate from, OSBI consistently aims to create a positive impact and we act with consciousness, so we can leave things better than we found them. Our social consciousness ensures we think about the little things that make a big difference.
Governance
At OSBI, we have a long tradition of looking after our customers, colleagues and the communities in which we operate and this approach is firmly embedded in our Purpose. Our ambition is to continue building a diverse and inclusive culture that we are proud of.
Addressing climate change our commitment to a sustainable future
Climate change is the most pressing challenge facing our planet and we are acutely aware of the threat climate change poses not just to our business, but far more importantly, the way in which we live our lives, be it our customers, colleagues, suppliers, or communities.
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Responsibility
Established a baseline for the emissions associated with the properties we finance using the Partnership for Carbon Accounting Financials (PCAF) methodology
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Climate accord
Committing to net zero for our operational emissions by 2030, Committing to net zero for our total operational and financed emissions by 2050
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Financed emissions
We're now carbon neutral for our operational emissions for 2020 and 2021 by offsetting through carefully selected quality, verified carbon mitigation schemes, focussing on areas aligned to the decarbonisation of the housing sector.
Responsibility
Established a baseline for the emissions associated with the properties we finance using the Partnership for Carbon Accounting Financials (PCAF) methodology
Climate accord
Committing to net zero for our operational emissions by 2030, Committing to net zero for our total operational and financed emissions by 2050
Financed emissions
We're now carbon neutral for our operational emissions for 2020 and 2021 by offsetting through carefully selected quality, verified carbon mitigation schemes, focussing on areas aligned to the decarbonisation of the housing sector.
we pride ourselves in having high standards and practices
We have also been helping our communities in the UK and India prosper through our volunteering and philanthropy efforts. We have always been active in the communities in which we operate and have a strong ethos of #givingsomethingback.
OSBI has made a significant positive impact on the communities we operate in, and we have made a conscious effort to give back to them. To support our organization's ESG values, we formed a volunteer group that works closely with our ESG committee. Our Hyderabad and Bangalore offices have been actively volunteering at local schools and institutions, aiming to inspire future generations. Our corporate social responsibility initiatives have also made a difference.
We donated high-end medical equipment to KGF Civil Hospital to help serve economically disadvantaged communities. Our partnership with SOS Village has benefitted about 40 children, providing them with better opportunities for a brighter future. We also took the initiative to renovate and refurbish Shamshabad Govt School, which now serves its below-poverty-line community more effectively. In 2021, we sponsored hemodialyses for over 1,500 patients from financially challenged families, highlighting our commitment to social causes and giving back to society
ESG Framework
The ESG Operating Framework is guided by the Group’s ESG Strategy and comprises a set of principles and details the framework and processes that drive assessment, delivery, and ensure ongoing engagement with internal and external stakeholders.
Alignment to Purpose, Vision and Values
Ensuring the Group’s ESG Operating Framework is aligned with the Group’s Purpose, Vision & Values and to support the Group’s approach to long term sustainability, risk management, value creation and resilience.
Business Strategy and Risk Appetite
Providing a strong governance framework that seeks to support, embed, and mature our approach to ESG and long-term sustainability, aligning it to the Group’s business strategy, financial planning, Strategic Risk Management Framework and risk appetites.
Board Level Oversight
Once approved, the Board will agree to ensure that the ESG Operating Framework is implemented robustly, through regular updates and management information. The Board will obtain assurance through second and third line functions to ensure that the ESG delivery is being effectively managed and controlled.
Governance Structures
The Group has established governance structures around how ESG delivery is managed, monitored and communicated. The primary governance channels are the ESG Committee and the ESG Technical Committee.
Strategic Risk Management Framework
The Group will articulate its ESG risk in other supporting framework documents where ESG risk is an enterprise risk of the Strategic Risk Management Framework. In addition ESG Risk appetite will be established with suitable controls and indicators in place.
ESG Decision making
Committee papers and policy reviews will include consideration of impact against the Groups ESG Strategic commitments and UN Sustainable Development Goals. The ESG team will periodically review a sample of Committee papers to ensure due consideration is given.
ESG Reporting
Ensuring the Operating Framework components and their implementation support relevant, robust and accurate reporting of decision relevant ESG data and information to stakeholders.