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Vedanta Newsdesk ISSUE 36 | VOL 11 | 25 NOVEMBER 2020 Vedanta Newsdesk SUSTAINABILITY ZERO HARM, ZERO WASTE, ZERO DISCHARGE NAND GHAR VEDANTA: FOCUS ON ESG PRACTICES Vedanta has been at the forefront of sustainable practices. Even as the company has, over the years, grown to become one of the largest diversified natural resources companies in the world, the goal has been to ensure that each of the businesses integrates sustainability principles into their operational structures and leverages new technologies to safeguard the environment and communities. VEDANTA RANKS AMONG TOP SUSTAINABLE COMPANIES Vedanta has embraced sustainability as a comprehensive, integrated business practice that involves collaboration, innovation, and a course of action. The company has made significant improvements in environmental, social and governance (ESG) performance with its Dow Jones Sustainability Indices (DJSI) ranking in the metals and mining sector having risen to 12 this year, as against 21 in 2019. Vedanta group company, Hindustan Zinc ranked 8 in the global tally. A Pre-COVID photograph Vedanta’s sustainability ranking shows a three-year trend of continuous improvement. The percentile improvement is 86 per cent this year compared to 70 per cent in 2019 and 60 per cent in 2018. The DJSI – which are float-adjusted market capitalization weighted indices – evaluates the sustainability performance of the world’s largest companies. HZL, VEDANTA TOP APAC RANKINGS Reflecting the Group’s strong commitment to do business in the most sustainable way, Vedanta group company, Hindustan Zinc topped the sustainability rankings in the Asia Pacific region. Vedanta is ranked 2 in the metals and mining category in the Asia Pacific region this year, as compared to 7 last year. VEDANTA BETTERS SUSTAINABILITY SCORE Sticking to its mission of 'Zero Harm, Zero Waste, Zero Discharge’, Vedanta’s DJSI score this year has improved to 66, compared to 51 last year. The company has reported big improvements in its ratings in critical areas, including human rights, social impact on communities and water-related risks. The company’s DJSI score on human rights has risen sharply from 20 to 73 since last year, while on the social impacts on communities, the company’s score has improved from 47 to 89. In biodiversity, Vedanta’s score increased from 38 to 79, while in case of risk and crisis management, the company’s score improved from 32 to 66. In climate strategy, the DJSI score rose to 73 this year as against 40 in 2019. Vedanta has obtained 100 per cent score in materiality, environmental reporting, water related risks and social reporting. SUSTAINABLE DEVELOPMENT FRAMEWORK Vedanta aims to deliver growth and long-term value while upholding sustainable development through its diversified portfolio of large, long-life and low-cost assets. The company has developed the Vedanta Sustainability Framework to enable business units to adopt sustainable business principles. A Pre-COVID photograph Developed in line with global standards from international bodies such as ICMM, IFC Performance Standards, GRI, and UNGC Principles; the Framework comprises of policies, standards and guidance notes for meeting the sustainability objective. The framework defines the approach to avoid and minimize potential environmental and social impacts, and to engage with impacted and interested stakeholders over the lifetime of the operations starting from exploration through to site closure. MINIMIZING CARBON FOOTPRINT Climate change is one of the most pressing issues the world faces that will have a growing impact on society and business. Vedanta remains fully supportive of the outcomes from the Paris Agreement and is committed to minimizing the carbon footprint. A Pre-COVID photograph Vedanta has re-constituted the ‘Carbon Forum’ to help steer the group towards a less carbon-intensive way of operating. The company had set targets to reduce its GHG emissions intensity by 16% by 2020, from a 2012 baseline. At the end-of-cycle, we were able to achieve a reduction of 13.83%, which is equivalent to ~9 million TCO2e in avoided GHG emissions. Discussion are underway across our businesses to finalize our FY2025 and FY2030 GHG reduction targets. Vedanta is committed to substantially decarbonize its operations by 2050. The thrust will be on innovation and investment in renewables. Minimizing the company’s environmental footprint is essential for long-term sustainability. Vedanta aims to deliver growth and long-term value while upholding sustainable development through its diversified portfolio of large, long-life and low- cost assets. The company has launched several initiatives under the “Waste to Wealth” initiative and deployed technologies that will not only aid in reducing the volume of waste produced, but also improve metal recovery rates. The goal is to develop processes and value-chains that enable the creation of a circular economy model, thereby eliminating future waste streams. VEDANTA SIGNS 'CARBON NEUTRALITY’ PLEDGE In a major step to lower greenhouse gas emissions, Vedanta has joined hands with the Government of India to sign a declaration on climate change by voluntarily pledging to move towards 'carbon-neutrality.’ Vedanta signed this declaration, along with 24 top private companies, which have aligned themselves with India’s commitment under the Paris Agreement. The mission is to take the country to net zero emission goal through specific emission measures, including promotion of renewable energy, enhanced energy efficiency, water efficient processes, green mobility, planned afforestation and waste management & recycling. VEDANTA LEADS FORUM ON CLIMATE CHANGE The India CEO Forum on Climate Change is designed as a platform to bring together Industry and Government and share the roadmap, challenges and synergy for combating climate change. The declaration signed during the second edition of the Forum earlier this month underlines that the private sector has a pivotal role in creating low carbon and sustainable economies without compromising collective and holistic growth aspirations. The companies have pledged to work with the government on realistic and achievable initiatives with benefits for climate change and sustainable development. “By endorsing the declaration, we demonstrate the leadership and resolve of the private sector in formulating a collective, strong and effective climate change response to help combat climate change with benefits for the present and future generations,” the companies have said. A HISTORIC INITIATIVE’ The declaration by private sector companies on Climate Change is a historic initiative. India is showcasing again, not only at the government level but also at the private level. We are taking real initiatives and that shows our commitment. Prakash Javadekar -Prakash Javadekar, Union Environment Minister COMMITTED TO ZERO HARM, ZERO WASTE, ZERO DISCHARGE Vedanta remains committed to our vision of “Zero Harm, Zero Waste, Zero Discharge” and will continue to operate under the highest standards of corporate governance and deliver value to all our stakeholders. Vedanta is well-positioned to create an impact not just for ourselves but also for the communities, regions, countries and industries where we operate. -Anil Agarwal, Chairman, Vedanta DRIVING INCLUSIVE GROWTH Vedanta’s vision has always been to drive inclusive growth that build communities, enhances the country’s self-reliance and does so in an environmentally responsible manner. Sunil Duggal -Sunil Duggal, Group CEO, Vedanta "Vedanta is on a journey towards becoming a low carbon intensive metals and mining company. We understand the climate change related risks to our business and are aiming to effectively manage them. Over the years sustainability has been a comprehensive part of how we run our business and our recent performance on indices like DJSI showcase our commitment towards it. We have many milestones to meet in Andrew Lewin order to meet our zero harm and zero waste vision." -Andrew Lewin, Group Head HSE & Sustainability "Vedanta has a vision for zero harm, zero waste and zero discharge. We have launched many programs and initiatives focusing towards attaining excellence in environmental performance. Contributing towards a larger purpose, a greener world by adopting sustainable & smart mining through innovative practices is the key. As a large global metal and mining player, we have an added responsibility to set an A. Sumathi example for our peers, while continuing to learn and evolve” -A. Sumathi, Global Head- Environment, Health & Sustainability, Vedanta "Carbon management is a critical area of Vedanta. It will help the company realize opportunities in the emerging green economy and help the company manage the physical, regulatory, financial, and reputational risks associated with climate change." –Gaurav Sarup, Director Energy and Social Performance Gaurav Sarup "Vedanta’s substantial improvement in DJSI annual ranking is a testament to our commitment to all issues related to ESG. Going forward, Sustainability shall be at the centerstage and all decisions will have to be around ESG issues. Our core values, larger purpose and our mission of being an employer of choice guide us to ensure that all of our operations are committed to the development of our communities and nation building at Vikas Sharma large. We need to ensure that our operations are conducted in a manner, which are sustainable in nature." – Vikas-Sharma, CEO, TSPL & Chair of Carbon Forum, Vedanta A. SUMATHI NOMINATED AMONG 100 GLOBAL INSPIRATIONAL
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