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Vedanta announces mission statement “Transforming for Good” in line with ESG Goals
· New mission statement is backed by 3 pillars: Transforming communities, Transforming the planet, and Transforming the workplace
· Company is focused on being the ESG leader in natural resources sector.
New Delhi/Mumbai November 24, 2021: Vedanta, a global natural resources company, has announced the evolution of its mission statement to strengthen the group’s commitment to ESG.
Vedanta is planning to be the ESG leader in the natural resources sector and has committed to reduce carbon emissions to zero by 2050 or sooner. The company has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. As a part of the process, the company has repurposed its mission statement to Vedanta – ‘Transforming for Good’, to make a meaningful difference to the society at large.
Ms. Priya Agarwal, Director, Vedanta Ltd. said “As a diversified natural resources company, Vedanta is committed to delivering sustainable and responsible growth, relying on the principles of environmental stewardship, social equity and impact, and good corporate governance. With this new identity, we want to further our commitment towards ESG in everything we do."
Vedanta’s new positioning is backed by three pillars – Transforming communities, Transforming the planet, and Transforming the workplace. The new mission statement is significant as it focuses on Vedanta adopting best practices and policies across the ESG space for the greater good.
Transforming Communities
· Aim 1. Responsible business decisions based around community welfare
· Aim 2. Empowering over 2.5 million families with enhanced skillsets.
· Aim 3. Uplifting over 100 million women and children through Education, Nutrition, Healthcare and Welfare.
Transforming the Planet
· Aim 4. Reduction in carbon emission intensity by 25% by 2030, and net-carbon neutrality by 2050
· Aim 5. Innovations for greener business model
· Aim 6. Achieving net water positivity by 2030
Transforming the Workplace
· Aim 7. Prioritizing safety and health of all employees
· Aim 8. Promote gender parity, diversity, and inclusivity
· Aim 9. Adhere to global business standards of corporate governance
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.
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 company have been featured in Dow Jones Sustainability Index 2020, and was conferred Frost & Sullivan Sustainability Awards 2020, CII Environmental Best Practices Award 2020, CSR Health Impact Award 2020, CII National Award 2020 for Excellence in Water Management, CII Digital Transformation Award 2020, People First HR Excellence Award 2020, ‘Company with Great Managers 2020’ by People Business and certified as a Great Place to Work 2021. Vedanta’s flagship Nand Ghar Project was identified as best CSR project by Government of Rajasthan. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India. For more information, please visit www.vedantalimited.com.
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