Mumbai: Bank of Maharashtra has received an Environmental, Social, and Governance (ESG) rating of 74.7 out of 100, placing the public sector lender in the ‘Excellent’ category, according to an assessment by GlobeTrend Climate Impact Pvt. Ltd. dated October 8, 2026. The rating highlights the bank’s performance across environmental sustainability, social responsibility, and corporate governance parameters.
The assessment evaluated the bank against a structured ESG framework, examining its disclosures and performance across key indicators relevant to the banking industry. The results indicate that the bank has reported more than 90% of the Key Performance Indicators (KPIs) assessed across the three ESG pillars, while also identifying scope for improvement in environmental disclosures.
Bank of Maharashtra ESG Rating: Category-Wise Scores
The ESG assessment evaluated Bank of Maharashtra across three core pillars: Environment, Social, and Governance. The bank’s scores and the respective weightages assigned to each category are as follows:
- Overall ESG Score: 74.7 out of 100
- Environment: 16.5 out of 23
- Social: 27.3 out of 35
- Governance: 30.9 out of 42
Governance carried the highest weightage at 42%, followed by Social at 35% and Environment at 23%. These weightages reflect the assessment framework’s allocation of importance to each pillar within the banking industry.
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ESG Report Highlights Strong Disclosure Performance
According to the report, Bank of Maharashtra demonstrated comprehensive disclosure across the assessed ESG indicators, with more than 90% of KPIs reported across all three pillars.
However, the assessment also identified an area for improvement in the Environment category, where 10% of the KPIs remained unreported. Strengthening environmental disclosures could help the bank improve the completeness of its sustainability reporting.
The findings underline the importance of transparent reporting and measurable performance in assessing the environmental and social impact of financial institutions.
ESG Assessment Based on 30 Key Factors and Over 350 Data Points
The ESG rating exercise used a structured evaluation framework comprising 30 key factors and more than 350 data points. The methodology incorporated both industry-agnostic indicators, which can be applied across sectors, and industry-specific indicators designed to reflect the characteristics of the banking industry.
The assessment also applied benchmarks to selected key factors, drawing on industry averages and ideal-scenario benchmarks wherever applicable. This approach was intended to evaluate the bank’s ESG performance against defined parameters and relevant reference points.
By considering multiple indicators across environmental, social, and governance dimensions, the framework provides a broader view of the bank’s sustainability-related disclosures and practices.
Importance of ESG Ratings in the Banking Sector
Environmental, Social, and Governance considerations are becoming increasingly significant in the financial services industry. ESG assessments help evaluate how organisations address environmental responsibilities, social commitments, transparency, and governance practices alongside their core business activities.
For banks, these considerations are relevant to responsible lending, stakeholder relationships, risk management, and corporate accountability. ESG ratings can also help stakeholders understand an institution’s reported performance across sustainability-related indicators.
Bank of Maharashtra’s rating of 74.7 places it in the ‘Excellent’ category under the assessment conducted by GlobeTrend Climate Impact Pvt. Ltd. The report also highlights the need to improve the completeness of environmental disclosures.
About Bank of Maharashtra
Established in 1935 and headquartered in Pune, Maharashtra, Bank of Maharashtra is a public sector bank in India. It offers a range of banking and financial services, including corporate banking, retail lending, digital payment solutions, and wealth management. The bank operates through a network of branches and digital banking channels to serve individuals, businesses, and other customers.
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