HDFC Mutual Fund Launches Campaign GenerationRestoration to Combat Climate Change

HDFC Mutual Fund Launches Campaign GenerationRestoration to Combat Climate Change

Mumbai, 7th June 2024:Reinforcing its commitment to environmental sustainability, HDFC Mutual Fund has launched the 4th edition of its NurtureNature campaign. Through this campaign, the company focuses on water conservation through lake restoration. This year’s initiative, titled¬¬¬¬¬¬¬Generation Restoration, is a long-term effort dedicated to fighting climate change and its devastating impacts. Over the past three years, the NurtureNature campaign has facilitated the plantation of over 50 thousand saplings across the country and recycled 4.65 tonnes of plastic waste to conserve nature.

Through a compelling campaign video titled GenerationRestoration, HDFC Mutual Fund showcases the story of Savitri, an elderly woman forced to migrate after her village home was ravaged by drought. The video drives home the message that climate change is uprooting countless families, stripping them of their homes and livelihoods. Building on these efforts further, NurtureNature 4.0 aims to create sustainable water sources by contributing towards restoring the water holding capacity of an existing lake. The campaign highlights the plight of millions of Indians displaced from their homes due to natural calamities like drought, fuelled by climate change. As per the Costs of Climate Inaction Report by Climate Action Network South Asia, it is estimated that by 2050, climate change could force up to 45 million Indians to face this harsh reality.

Under NurtureNature 4.0 – Generation Restoration, HDFC Mutual Fund will restore the water holding capacity of an old lake for every digitally registered SIP during the campaign period, aiming to rejuvenate and restore an existing lake. From June 5th to June 11th, 2024, any new SIPs registered digitally or online of a minimum of Rs. 2,500 per month for at least 3 years in eligible equity and gold schemes, the fund house will contribute towards restoring a 5,000-litre water holding capacity in an old lake. The aim is to rejuvenate and restore the water holding capacity of an existing lake, providing a sustainable water source for villagers, agricultural activities, and environmental preservation.

Commenting on this socially responsible initiative, Mr. Navneet Munot, MD & CEO of HDFC Asset Management Company Ltd., said, “Global warming is an existential threat to humanity. As the world grapples with deforestation, rapid urbanization, environmental degradation, and groundwater depletion, we must take immediate action. As part of our ongoing Nurture Nature Campaign, now in its fourth year, we have committed to alleviating the water crisis by restoring an existing lake and providing a sustainable source of water”

Rabindra

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