Vedanta puts in place comprehensive framework to become ESG leader
7th October 2021
- Gets future ready for climate change and environment protection
- Committed to reduce its GHG emissions intensity by 20% by FY2025
- More than 94% of high-volume-low-impact waste being recycled annually
- Saved 7.5 million cubic metres of water over the past three years
- Fly ash utilization rates pegged at 110%
New Delhi/Mumbai October 7, 2021: Vedanta, a global natural resources company, has taken up a transformative program to embed ESG into every aspect of its decision-making and performance evaluation process.
Vedanta, which has been on a sustainability journey for the past decade with its commitment to responsible mining, is participating in the Dubai Expo to highlight its goal to become an ESG leader.
Vedanta Group CEO Sunil Duggal said, “The subject of climate change has taken center stage for people and our planet. It is time for everyone to understand our responsibilities towards this reality. We at Vedanta, understand we have a major role to play and are a company that deals in future looking green metals. We are currently in the midst of a transformative program to embed ESG into every aspect of our decision-making and performance evaluation.” The focus on renewables will lead to a more mineral-intensive world, Mr. Duggal said since electric cars will require six times more minerals than the conventional car, and the onshore wind required nine times more mineral than the gas field plant. Vedanta with its portfolio of future looking metals will have a pivotal role to play in this, he said.
“Vedanta is actively working towards its philosophy of ‘Zero Harm, Zero Waste & Zero Discharge’, and we stand committed to making India and this world a better place – relying on the principles of environmental stewardship, social equity and impact, and good corporate governance. I appeal to everyone to be part of this journey and each of us can do our bit to make this world a better place,” he added.
In its pledge towards the future requirements of climate change, Vedanta is among the 24 Indian companies who are signatories to the ‘Declaration of the Private Sector on Climate Change’ and are committed to decarbonizing their operations by 2050.
Vedanta group company Hindustan Zinc has also set stiff targets to reduce the impact of climate change. According to Arun Mishra, CEO – Hindustan Zinc Limited: “Climate change is something which is real, and we are talking about this today. I would like to highlight the need of the hour, which is a responsive, a multinational approach to climate justice in which all countries should take their fair share in responding to global climate change issues. In Hindustan Zinc we have already taken sustainable development goals for 2035 for reducing about .5 million tons of carbon emission reduction. It is our clear vision to close down thermal power plants and shift to renewable energy in the next 5 years.”
Vedanta has released the first Climate Change Report in line with the Taskforce on Climate-related Financial Disclosures (TCFD), becoming the first Indian metals and mining company to do so. Their collaboration with TCFD will bring in greater transparency in their disclosure standards.
Vedanta has been at the forefront of sustainable practices and is leveraging new technologies to safeguard the environment and communities. Guided by the philosophy of `Zero Harm, Zero Waste, Zero Discharge’, Environmental, Social and Governance (ESG) practices are at the heart of Vedanta’s operations which are focused on delivering sustainable and responsible growth thereby creating value for all stakeholders.
The company has ensured that more than 94% of high-volume-low-impact waste gets recycled annually. They have created positive social impact to more than 3 million individuals in communities and additionally generated awareness on covid to more than 39 million individuals via e-learning programs.
Vedanta is committed to reduce its GHG emissions intensity by 20 per cent by FY2025. The company has reduced GHG emissions intensity by 13.83% in FY20 as against the FY12 baseline. This reduction is equivalent to ~9 million tons in avoided GHG emissions. Through sustained efforts across business units, Vedanta achieved energy savings of 1.92 million GJ in FY2020.
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.
