business news: Vedanta Aluminum honored as a sustainable aluminum producer

Vedanta Aluminum, India’s largest aluminum producer, has announced that it has topped the prestigious S&P Global Corporate Sustainability Assessment (CSA) list of the aluminum industry for the year 2023 (assessment period). This achievement by Vedanta Aluminum reiterates that the company is well on its way to becoming the world’s most sustainable aluminum producer and has outperformed its global peers on environmental, social and governance (ESG) fronts.

The S&P Global Corporate Sustainability Assessment (CSA) is an annual assessment of a company’s sustainability practices. The S&P CSA includes more than 10,000 companies from around the world. CSA focuses on sustainability criteria that are industry-specific and financially significant. This review is considered the premier external sustainability assessment by leading companies. Earlier, according to the assessment of the year 2022, Vedanta Aluminum had ranked second in the worldwide aluminum industry. In the last one year, the company has made significant progress in all the areas reviewed – environment, social and governance. Due to this, the company achieved an increase in the overall CSA assessment score in the year 2023.

Leading companies across various industries are required to undergo an annual assessment of their sustainability practices. Vedanta Aluminum scored highly across the criteria reviewed, particularly biodiversity, occupational health and safety, social impact, human rights, talent deployment and water management practices.

Aluminum plays an increasingly important role in enabling sustainable applications and the overall economy, decarbonizing their value chains and enabling the global energy transition. Vedanta Aluminum is committed to achieving net zero by 2050. For this, a two-pronged strategy is being implemented to reduce and offset the carbon footprint. The company is increasing the share of renewable energy sources in its energy mix to reduce its carbon footprint. This is enhancing the company’s manufacturing excellence, improving operational efficiencies and adopting low carbon energy sources such as biofuels. The company is creating solid carbon sinks through large-scale afforestation to offset the remaining carbon footprint. Through its operations, the company is delivering responsibly produced high quality aluminum to the world to ensure a green future for the planet.

Commenting on this achievement, Mr. John Slaven, CEO, Vedanta Aluminum said, “We have embarked on a transformational journey where our commitment to sustainability goes beyond business compliance and focuses on how we can positively impact the environment. Can. Achieving the top spot in the S&P Global CSA reflects our commitment to implementing sustainable practices in every aspect of our value chain, from sourcing to delivery. We are prioritizing higher processing capabilities. Are using renewable sources more in their energy mix. We are working towards ‘turning waste into wealth’ while ensuring the safety and health of our employees and building sustainable partnerships with our communities for inclusive growth. “Through these efforts, Vedanta Aluminum is building on its legacy of environmental stewardship and paving the way for a more sustainable future.”

Detailed information on the factors that contributed to CSA’s ranking in 2023 is available in the company’s Sustainable Development Report, FY 2023, which can be accessed at https://vedantaaluminium.com/sustainability/sustainability-report/ Can be reached.

The list of important achievements achieved by the company in its sustainability journey is as follows:

Compared to fiscal year 2021, greenhouse gas emissions were reduced by approximately 8 percent in fiscal year 2023 and productivity was increased by approximately 16 percent.
11 percent less water was taken from fresh water sources.
15 lakh cubic meters were saved in the use of fresh water.
Waste utilization to double in fiscal year 2023, strengthening circular economy.
More than 40 rural community water reservoir restoration projects were worked on together.
The largest electric forklift fleet in India was deployed, thereby reducing the carbon footprint of logistics.
Positive impact on over 6.3 lakh women and children through focused social initiatives.
Community investment was increased by 45 percent in the financial year 2023, due to which a lot of work was done for education, health, livelihood, community infrastructure, grassroots art, culture and sports.
Diversity was brought in staff recruitment and transgenders and persons with disabilities were deployed in key operations. Vedanta Aluminum is thus creating a truly inclusive workplace.

Vedanta Aluminum, a unit of Vedanta Limited, is India’s largest aluminum producer. With production of 22.9 lakh tonnes in FY23, the company has become India’s