Vedanta Aluminium Unveils ‘Accelerating to Net Zero’, its Sustainable Development Report for FY2022
13th December 2022
- Also launches its maiden report on climate change, aligned to Taskforce for Climate-related Financial Disclosures (TCFD), on National Energy Conservation Day
New Delhi;13th December 2022: Vedanta Aluminium, India’s largest producer of aluminium, unveils its Sustainable Development (SD) Report for FY 2021-22, titled ‘Accelerating to Net Zero’, on National Energy Conservation Day. The report encapsulates the company’s performance across key dimensions of sustainability, such as economic performance, supply chain management, climate change & energy management, air quality & emissions control, water management, biodiversity management, waste to wealth, safety, health & wellbeing, people excellence, community welfare, etc.
Vedanta Aluminium has also launched its maiden report on climate change, titled ‘Road to Net Zero Carbon’, aligned to the Taskforce for Climate-related Financial Disclosures or the TCFD framework. Through the report, the company aims to inform its stakeholders about business-related opportunities, climate management strategies, commitment and performance, in the context of climate change. Both reports can be accessed on the company’s website: https://vedantaaluminium.com/sustainability/sustainability-report/
Launching the reports, Mr Rahul Sharma, CEO – Aluminium Business, Vedanta Ltd. said, “We are pleased to launch the Sustainable Development Report and TCFD Report of Vedanta Aluminium for FY 2021-22, both of which highlight the progress in our climate action endeavours. We are on a mission to align incentives of growth with imperatives for the planet. Our determination to build a Net Zero climate-resilient aluminium business is equally matched by our commitment to improve the quality of lives of those around us, with the knowledge that both are contingent on the environment. And therefore, we have redesigned our ESG (Environmental, Social & Governance) roadmap with 2030 and 2050 milestone targets, with a focus on increasing renewable energy consumption, carbon reduction, water conservation and waste utilization.”
Highlights of Vedanta Aluminium’s SD and TCFD Reports:
- Historical highest production of 2.27 million tonnes of aluminium, an increase of 15% from the previous year
- GHG emission intensity (Scope 1 + Scope 2) reduced from 19.3 tCO2e/MT to 17.6 tCO2e/MT over the same time, which is the lowest amongst primary aluminium producers in India
- Launched first low carbon ‘green’ aluminium from India, branded Restora
- India’s largest industrial consumer of renewable energy at 3 Billion Units
- Signed Power Delivery Agreement for 380 MW of renewable power supply to our aluminium smelters
- Reduced GHG emissions intensity by 24% in FY 2022, from 2012 baseline
- Commissioned India’s largest fleet of lithium-ion battery powered EV forklifts
- Ranked 4th in Dow Jones Sustainability Index world rankings for the aluminium industry
- Conserved more than 827 million litres of water in the year
- Partnered with TUV SUD for turning aluminium operations water positive
- Interlinked climate-related business performance with management remuneration by way of ESG targets to encourage a cultural shift in approach towards sustainability
- Positively impacted the lives of 0.38 million women & children through impactful social interventions
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.27 million tonnes in FY22. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 4th in the Dow Jones Sustainability Index (DJSI) 2021 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
About Vedanta Limited:
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies have been featured in Dow Jones Sustainability Index, and was conferred Frost & Sullivan Sustainability Awards 2020, Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.
For more information, please visit www.vedantalimited.com
About Vedanta Aluminium Business:
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
For more information, please log on to www.vedantaaluminium.com
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Disclaimer:
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
