HDFC's integrated Annual Report

The Annual Report for 2011, was HDFC Bank's maiden effort towards an Integrated Annual Report, incorporating a holistic view of economic, environmental and societal impacts of its operation.

This publication also features international reporting standards of the trendy - Global Reporting Initiative (GRI) G3 framework - a first time initiative for HDFC Bank's efforts to be more transparent with stakeholders.

HDFC Bank's AGM Finance and Planning, D. Vidana Pathirana, said that HDFC Bank was the first Bank to publish an integrated publication. This publication adhered to internationally accepted guidelines and incorporates a GRI analysis included in each section, unlike the current practice of containing a separate sustainability section integrated as a stand-alone chapter.

Triple-Bottom-Line reporting is yet another global initiative incorporated in the Report.

Triple-Bottom-Line definition of sustainability is a broader concept.

In addition to preservation of the environment and natural resources, Triple-Bottom-Line reporting considers the economic and social context of doing business and also encompasses the business systems, models and behaviour necessary for long-term value creation.

Pathirana said that the market value of a company depends on two tangibles - Financial Capital and Physical or Tangible Assets.

In addition to these measurable assets, intangible assets such as reputation, brand, trust, credibility, integrity, intellectual capital, customer loyalty, risk management, social and environmental responsibility were aspects that are regarded as being equally important as tangible assets.

"Sustainability reporting facilitates accountability to stakeholders as a systematic practice.

By publishing a sustainability integrated annual report, HDFC imparts more transparency to the public at large to properly assess the level of overall competence of the organisation. Greater transparency would improve HDFC Bank's compliance with its vision" a spokesman for HDFC said.

"On Sustainability Reporting, HDFC Bank has consecutively secured ACCA's Sustainability Reporting Award over the past couple of years.

Nearly 12 percent of the total extent of nearly 250 page extent in this publication has been dedicated to a comprehensive chapter on the HDFC Bank's role towards economic, environmental and societal value-addition.

Amidst this focus is HDFC Bank's maiden effort to also conform to Carbon Footprint guidelines. With the infrastructure now set in place, HDFC Bank is now full of promise as it's now poised towards delivering an improved result-oriented performance during the coming years", a spokesman for HDFC said.