Marking its 70th anniversary, the State Bank of India (SBI), the country’s largest public sector lender, has unveiled a bold and transformative green energy initiative aimed at accelerating India’s path toward Net Zero emissions by 2070. The bank has committed to solarising 4 million homes by the end of the financial year 2026–27 under its newly launched Solar Rooftop Programme.

This landmark announcement underscores SBI’s strategic pivot from being merely a financial powerhouse to an active participant in India’s energy transition. By leveraging its vast rural and semi-urban network, the bank aims to democratize access to clean energy while supporting national sustainability goals. The initiative aligns seamlessly with India’s commitment made at COP26 in Glasgow to achieve net-zero carbon emissions by 2070.

According to SBI, the Solar Rooftop Programme is designed not only to advance the country’s renewable energy roadmap but also to promote energy independence at the household level. The focus will be on deploying rooftop solar panels across both urban and rural homes, thereby reducing dependency on conventional energy sources and lowering the national carbon footprint.

In addition to the solar push, SBI is making strategic investments across various sustainable verticals. The bank disbursed over ₹3.5 lakh crore in agricultural lending during FY25, supporting farm infrastructure, agri-enterprises, Farmer Producer Organisations (FPOs), and cooperatives. This financing plays a dual role—strengthening the agrarian economy while indirectly fostering environmentally responsible farming practices.

SBI’s commitment to environmental and social responsibility is also reflected in its corporate social responsibility (CSR) activities. With a CSR investment of ₹610.8 crore, the bank has contributed significantly to healthcare, education, and rural development across 94 aspirational districts. Notably, it has undertaken the plantation of 9 lakh trees in the ecologically sensitive Cauvery basin—an initiative that supports biodiversity and carbon sequestration.

In terms of infrastructure, SBI is establishing a Centre of Excellence in Project Finance, envisioned as an asset of national importance. The centre will focus on financing high-impact sectors such as renewable energy, e-mobility, smart infrastructure, data centres, green hydrogen, and broader decarbonisation projects—key pillars in India’s green growth strategy.

Through these integrated efforts, SBI is positioning itself not only as a financial enabler but as a sustainability leader. The scale of its Solar Rooftop Programme sets a benchmark for public-private cooperation in climate action, providing a replicable model for other financial institutions.

As India works towards its Net Zero 2070 goal, SBI’s initiative serves as a critical building block—empowering households with renewable energy solutions, facilitating low-carbon development, and reinforcing the financial sector’s central role in driving climate-positive change.

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.

"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!