SBI plans to raise green advances share up to 10% by 2030, launches centre for sunrise sectors

India's largest public lender, State Bank of India (SBI) has set a target to increase the share of green advances in its loan portfolio to 7.5–10 per cent by 2030 as part of efforts to support India’s transition towards sustainable financing and low-carbon growth.The country’s largest lender said 25 per cent of these green advances will be funded through dedicated green lines of credit. The bank’s green advances portfolio stood at 1.56 per cent of total advances as of March 31, 2025, according to a statement issued on Sunday, PTI reported.As part of strengthening its sustainability strategy, SBI also launched CHAKRA, a Centre of Excellence aimed at financing sunrise sectors such as renewable energy, electric mobility and green hydrogen.The bank said the initiative is designed to accelerate investments aligned with India’s green transition while expanding financing opportunities in emerging climate-focused industries.Separately, SBI hosted the sixth edition of the SBI Green Marathon, reinforcing its environmental commitment through public participation initiatives. The event, held under the theme “Run For A Greener India”, saw participation from over 10,000 runners in Mumbai across 5 km, 10 km and 21 km categories.Commenting on the event, SBI MD Rama Mohan Rao Amara said, “Sustainability is integral to our purpose and the Green Marathon is a symbol to our belief that meaningful climate action begins with individual responsibility and scales through collective commitment. As we progress towards carbon neutrality by 2030 and Net Zero by 2055, we remain committed to financing India's green transition and enabling collective climate action.”SBI has committed to achieving carbon neutrality in its operations by 2030 and Net Zero emissions by 2055, which marks its centenary year.Launched in 2018, the SBI Green Marathon has evolved into a nationwide initiative aligned with India’s Mission LiFE (Lifestyle for Environment), encouraging environmentally responsible behaviour among citizens. The sixth season began in Lucknow and covered 17 cities, including Mumbai.The bank said the initiative reflects its broader alignment with India’s vision of building a sustainable, inclusive and resilient economy.