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Sustainable Development Report 2017-18

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Sustainable Development Report 2017-18 y t i l i b a 2017-18 n i a t s u s report Partners for the Future Partners for the Future How can a metals and mining company impact the future? Can an ancient industry like mining find a place for itself in a rapidly modernizing society? We believe that it can - provided it strives to reinvent itself to meet the requirements of the modern economy in a sustainable manner. At our core, we are miners of potential. From natural resources to people, when both these reserves are harnessed responsibly and sustainably the destiny of nations can change. As a large, diversified metals and mining company, we have the potential to transform the future of the communities, regions, and countries from where we operate. In 2017-18 alone, we generated an economic value of US$ 15,092 million, of which only US$ 526 million was retained by the company. The remaining was distributed to our employees, investors, communities and governments in the form of wages, dividends, interest-payments, community investments and taxes. We contributed nearly US$ 5.4 billion to the exchequer and invested US$ 39 million in community support and CSR programmes. But the future can be very bleak if we do not find a way to develop sustainably. In this form of development local communities benefit from our presence; employees & contract workers don't just earn a paycheck, but thrive through their association with us, are safe and are able to transform the future of their families positively. In this sustainable future, both genders are able to harness their potential and the environment is treated as a stakeholder that is cared for; and that care is reflected in the way we conduct our business. Vedanta has committed to walk-the-talk on sustainability and in the process, we are confident that we will become a partner in the future of the countries where we are located. 01 OVERVIEW 01 Vedanta at a Glance 03 From the Chairman's Desk 05 CEO's Message 07 Global Context 09 Our Strategy and Approach 11 Roadmap & Progress 14 RESPONSIBLE STEWARDSHIP 15 Governance 22 Safety and Occupational Health 27 Environment 37 BUILDING STRONG RELATIONSHIPS 38 Stakeholder Engagement 42 Human Rights 44 Neighbourhood Dialogue ABOUT THIS REPORT 45 ADDING & SHARING VALUE Welcome to our tenth Sustainable 46 Community Development Report, which has been 60 Employees prepared in accordance with the Global 68 Economy Reporting Initiative (GRI) Standards: Core option. It is mapped to the United Nations Global Compact (UNGC) and aligns to Sustainable Development Goals 75 STRATEGIC COMMUNICATION (SDGs). It reports our approach and 76 Communicating Constructively disclosure towards triple bottom line 78 Strategic Engagements & Advocacy principles - people, planet and profit over the FY 2017-18. See page 82 for more 79 Awards and Accolades information about our reporting. 82 ANNEXURES 82 About this Report Visit our online 83 External Indices Sustainable Development Report 2017-18 at 84 Assurance Statement www.vedantaresources.com 86 GRI Standard Index Vedanta at a Glance 01 From the Chairman's Desk 03 CEO's Message 05 OVERVIEW Global Context 07 Our Strategy and Approach 09 Roadmap & Progress 11 VEDANTA AT A GLANCE Vedanta Resources is a London Stock Exchange listed, globally diversified natural resources company with interests in Zinc, Lead, Silver, Copper, Iron Ore, Aluminium, Power and Oil & Gas. Our exploration portfolio from all the four continents that we operate in, follows a history of consistent geological discovery, sustainable growth, long-term value creation and improved best-in-class operations. Our focus on sustainable development is reinforced through building strong, engaging and beneficial partnerships with all our stakeholders. TEGRIT | IN Y | OUR CORE PURPOSE E RE C SP N E LE C Vedanta is a globally diversified L T E C | natural resources company X C E with low-cost operations. A | OUR R E We empower our people to drive T S CORE | excellence and innovation to U R VALUES T create value for our stakeholders. We demonstrate world-class standards of governance, safety, sustainability and social responsibility. Zinc-Lead-Silver Oil & Gas Copper Aluminium • Debari smelter • Rajasthan block • Silvassa refinery • Lanjigarh alumina refinery • Chanderiya smelters • Ravva (PKGM-1) block • Tuticorin smelter • Jharsuguda smelters & • Rampura-Agucha mine • Cambay (CB/052) block • Mt Lyell mine, Australia** power plants • Rajpura Dariba mine & smelters • South Africa block • Korba smelters & Power power plants and Sindesar Khurd mine • KG-OSN-2009/3 block • Zawar mine • PR-OSN-2004/1 block • MEL power plant • Skorpion mine, Namibia • SEL Iron Ore • Black Mountain mine, • Talwandi Sabo * Lisheen had safe, detailed and fully-costed closure South Africa • Iron ore operations - Goa Power Plant after 17 years of operation * • Lisheen mine, Ireland • Iron ore operations - Karnataka in November 2015 • Iron ore projects - Liberia ** Under care and maintenance VEDANTA OPERATES ACROSS THE VALUE CHAIN - FROM EXPLORATION, ASSET DEVELOPMENT, AND EXTRACTION, TO PROCESSING AND VALUE ADDITION, TO DELIVER LONG-TERM VALUE AND GROWTH ACROSS ALL STAGES. 01 HARM WASTE Managing risk in all forms by It’s all of our responsibility to DISCHARGE ZERO applying controls and testing their ensure that everyone who works effectiveness on our site returns home safely H S E C H A R T E R every day while protecting the Setting priorities and commitments environment for our future and measuring, monitoring and We will fulfill our duty to protect the safety reporting performance generations. and welfare of our people and plan to achieve our health, safety and environment Maintaining an open dialogue with goal of zero harm to become the best our business partners and performer in the resources industry by: stakeholders ANIL AGARWAL Implementing world class standards Chairman that deliver our legal obligations Applying this discipline every day in and company policies every aspect of our business June 2016 G R O U P S T R U C T U R E OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD- 64.92% SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | 100% ** IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILeVERs | ALUMINIUM Z | POWER | IRON ORE | COPPER | OIL & GAS | Min inc er Ind pp ania H ia o m ZL ZINC-LEAD-SILVER | ALUMINIUM | POWER C | aIRONs ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | T POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | TA LTD. (50. AN 25 B ED %) h y V a OIL & GAS | ZINC-LEAD-SILVER g| ALUMINIUM | POWER | IRON ORE | COPPER | OILr & GAS | ZINC-LEAD-SILVER | r a 51% e ) B t n A A | | E W | | | | | | | ALUMINIUM POWER IRON100% ORE COPPER OIL & GAS ZINC-LEAD-SILVER ALUMINIUML l POWER IRON ORE u * M C m O O C 0 i COPPER | OIL & GAS | ZINC-LEAD-SILL 0 VER | ALUMINIUM | POWER | IRON ORE | COPPERn | OIL & GAS | ZINC-LEAD- i A 1 u ( m M SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | VEDANTA IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILRVERES O| ALUMINIUMURCES | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE P| LCCOPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL 100% & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM100% | POWER | IRON ORE OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD- 100% | | | | | | | | | SILVER ALUMINIUM POWER IRON ORE COPPER OIL & GAS 100%ZINC-LEAD-SILVER ALUMINIUM POWER IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL & GAS | ZINC-LEAD-SILVER | ALUMINIUM | POWER | IRON ORE | COPPER | OIL Listed entity Unlisted entity *Option to increase stake to 100% | **Option to increase stake to 94.4% 02 Vedanta at a Glance 01 From the Chairman's Desk 03 CEO's Message 05 OVERVIEW Global Context 07 Our Strategy and Approach 09 Roadmap & Progress 11 FROM THE CHAIRMAN'S DESK Vedanta is a purpose-driven organisation. Our vision is to leverage innovation and technology to harness the elements of natural resources and transform them to fuel progress and development, with a committed goal of Zero Harm, Zero Discharge and Zero Waste. To achieve this vision, sustainable development principles are inter-twined with each of our businesses and our growth agenda. A company's performance should be measured by its contribution to society as well as by financial metrics. It is encouraging to see investors and non-financial stakeholders value firms that have social and responsible ways of working. We want communities to feel that they are an integral part of Vedanta's growth story. Zero Harm, Zero Waste, Zero Discharge In recent years, we have put our energies into improving our safety performance and environmental standards. Our vision is to have an organization that works on the premise of 'Zero Harm, Zero Waste, and Zero Discharge'. We have made good progress in both areas; however the loss of nine of our colleagues in work-related accidents in the past year is a reminder that further improvement is required.
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