Climate Change Data

Environmental Metrics

ESG Focus Areas

• Triple Bottom Line (People, Planet, Profit)
• Safety
• Water Conservation
• Energy Efficiency
• Climate Change
• Biodiversity
• Waste Management
• Community Development
• Human Rights
• Stakeholder Engagement
• Governance

Environmental Achievements

• Surpassed water and energy conservation targets
• Improved water recycling rate to 23%
• Increased fly ash recycling rate to 47%
• Planted over 200,000 trees in one hour
• World-class closure of Lisheen mine in Ireland

Social Achievements

• Invested US$37 million in community development initiatives benefiting 2.25 million people
• Launched Nand Ghar project to modernize 4,000 Anganwadis in India
• Implemented community initiatives in Africa focusing on malaria prevention, sustainable agriculture, schools, and healthcare
• Provided over 757,700 hours of safety training to employees and contractors
• 9.4% female employees

Governance Achievements

• Established a robust governance framework
• Resolved 131 whistleblower cases
• Updated Code of Business Conduct and Ethics to comply with UK Bribery Act
• Implemented Vedanta Sustainability Assurance Programme (VSAP)

Climate Goals & Targets

Environmental Challenges

• 12 fatalities among employees and contractors
• Commodity market downturn
• Climate change
• Water scarcity in some operating areas
• Allegations against KCM operations in Zambia

Mitigation Strategies

• Implementing Safety Performance Standards
• Piloting Safety Leadership Transformation programme
• Optimizing costs and generating industry-leading margins
• Formulating a long-term carbon strategy
• Improving energy efficiency
• Implementing water conservation projects
• Investing in clean technologies and upgrades

Supply Chain Management

Supplier Audits: 100% of new suppliers assessed on HSE, human rights, and labor rights aspects

Responsible Procurement

• Supplier Code of Conduct
• Supplier and Contractor Management Policies
• Supplier Screening Checklist

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Regulatory changes
• Market shifts
• Carbon taxes

Opportunities

• Development of energy-efficient products
• Diversification of energy portfolio

Reporting Standards

Frameworks Used: GRI G4 - ‘in accordance’- Core guidelines, UNGC, SDGs, ICMM, IFC, OECD

Certifications: ISO 14001 (48 of 52 sites), OHSAS 18001 (48 of 52 sites)

Third-party Assurance: Ernst & Young LLP (Limited Assurance)

UN Sustainable Development Goals

• Goal 6 (Clean Water and Sanitation)
• Goal 7 (Affordable and Clean Energy)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)
• Goal 13 (Climate Action)
• Goal 15 (Life on Land)
• Goal 17 (Partnerships for the Goals)

Various initiatives aligned with SDGs (see report for details)

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Numerous awards for sustainability, CSR, energy efficiency, and operational excellence (see report for details)

Environmental Metrics

ESG Focus Areas

• Safety and Occupational Health
• Environment
• Community Relations
• Human Rights
• Governance
• Economic Responsibility

Environmental Achievements

• Achieved 173% of total water saving target
• Recycled more than half of non-hazardous waste
• Recycled nearly 50% of fly ash
• Signed a biodiversity offset agreement for Black Mountain Mining operation
• Reduced specific water consumption at BALCO from 2.3 to 1.3

Social Achievements

• Empowered around 39,000 women through 3,200+ Self-Help Groups
• Launched 100 Nand Ghars across India
• Made a social investment of almost US$18 million benefiting 2.2 million people
• Improved safety performance with Lost Time Injuries reduced to 75 from 103

Governance Achievements

• Vedanta Limited ranked as India's leading publicly listed company in the India Disclosure Index 2016
• Implemented safety performance standards
• Revised Vedanta Carbon Policy and Carbon Strategy

Climate Goals & Targets

Environmental Challenges

• Seven fatalities occurred during the reporting year
• Fluctuations in commodity prices
• Access to capital
• Challenges to operationalise investments in aluminium and power businesses
• Transitioning of zinc and lead mining operations from open pit to underground mining
• Increasing impact of climate change
• Community relations
• KCM pollution case

Mitigation Strategies

• Rigorous improvement interventions on safety processes
• Tight fiscal discipline and maintaining a robust balance sheet
• Implementing safety performance standards
• Revised Carbon Policy and developed a Carbon Strategy
• Proactive engagement with communities
• KCM working closely with regulators and stakeholders to develop alternative solutions

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• Supplier and Contractor Management Policies
• Supplier Screening Checklist

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Regulatory changes
• Evolving behavior of environmentally conscious consumers

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI G4 - ‘in accordance’- Core guidelines, UNGC, SDGs

Certifications: ISO 14001, ISO 50001

Third-party Assurance: KPMG

UN Sustainable Development Goals

• SDG1
• SDG2
• SDG3
• SDG4
• SDG5
• SDG6
• SDG7
• SDG8
• SDG9
• SDG10
• SDG11
• SDG12
• SDG13
• SDG14
• SDG15
• SDG16
• SDG17

The report maps various initiatives to the UN SDGs.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• India's leading publicly listed company in the India Disclosure Index 2016
• Numerous awards for various businesses in health & safety, environment, community, and innovation

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Management
• Social License to Operate (including community engagement and development initiatives and human rights)
• Workforce Diversity and Equal Opportunities

Environmental Achievements

• Achieved 140% of water savings target, saving 1.3 million m3 of water
• Surpassed energy savings target, achieving 280% (2.44 mn GJ) of expected savings
• Achieved 14% reduction in GHG intensity (against a 16% target by 2020)
• ~90% of generated fly ash utilized
• 81% of high-volume and low-effect waste recycled in sustainable applications

Social Achievements

• Invested over ₹244 crore in social programs, impacting 3.36 million people
• Constructed 154 Nand Ghars (child welfare centers)
• Increased diversity: Women represent 10.6% of total workforce
• Vedanta Medical Research Foundation launched a cancer facility in Raipur

Governance Achievements

• Gross debt reduced by ₹8,512 crore
• Crisil upgraded Company’s Rating (CFR) from ‘AA/Stable’ to ‘AA/Positive’
• Record interim dividend of ₹7,881 crore announced

Climate Goals & Targets

Environmental Challenges

• Seven fatalities occurred during the fiscal year
• Goa mining operations shut due to state-wide ban
• Tuticorin copper smelting operations shut down pending consent to operate renewal
• Rising raw material input costs (coal and alumina)
• Challenges around sourcing raw materials and infrastructure in Aluminium and Power business

Mitigation Strategies

• Bolstered HSE organization by recruiting ten experts
• Implemented safety standards and management of high-risk areas
• Provided training to employees and contractors (890,389 hours)
• Focusing on operational improvements and cost optimization
• Engaging with government and relevant authorities to restart operations
• Developing alternative sourcing strategies
• Inducting global technical experts to strengthen operational excellence

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• Contract Conditions
• Code of Business Conduct and Ethics
• MSA framework

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions
• Natural disasters

Transition Risks

• Increasing regulation of GHG emissions
• Carbon emissions trading mechanisms
• Tighter emission reduction targets

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: Integrated Reporting framework of the Integrated Reporting Council (IIRC), GRI Standards

Certifications: ISO 14001

Third-party Assurance: SR Batliboi & Co., LLP

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• India Manufacturing Excellence Award
• Safaigiri Award
• CII-SR-EHS Excellence Award
• Innov Award Gold for CSR
• Golden Peacock Occupational Health & Safety Award
• Dow Jones Sustainability Index ranking (15th)

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Management
• Retaining Social License to Operate
• People & Diversity Management
• Climate Change
• Tailings Dam Management
• Human Rights
• Community Engagement
• Responsible Supply Chain Management

Environmental Achievements

• Reduced Greenhouse Gas (GHG) emissions intensity by 14.5% against a 2020 target of 16% reduction (2012 baseline)
• Recycled 92% of high-volume, low-toxicity waste
• Commissioned 22 MW of solar power projects at Hindustan Zinc, generating 1,635 million units of green energy
• Developed a tailings dam management standard in accordance with international guidelines

Social Achievements

• Invested over US$ 45 million in community support and CSR programs, directly touching the lives of 3.1 million people
• Provided health services to more than 1.6 million patients; sanitation and clean drinking water to over 350,000 people
• Reached nearly 40,000 women through dedicated self-help groups
• Provided high-quality employment to 88,000+ people directly and through contract partners
• Operationalized 500 Nand Ghars (community resource centers for women and children)

Governance Achievements

• Implemented the Vedanta Sustainability Framework (VSF) and Vedanta Sustainability Assurance Programme (VSAP)
• Conducted 25,000+ hours of training on Code of Conduct
• Implemented a robust risk governance framework to manage health, safety, environmental, and climate change risks

Climate Goals & Targets

Environmental Challenges

• 14 fatalities in the workplace
• Closure of Sterlite Copper plant and negative stakeholder perception
• Tailings dam stability concerns
• Increased fatalities for the second consecutive year

Mitigation Strategies

• Strengthening compliance and accountability, instilling a strong culture of care, and ensuring transparent reporting of incidents
• Intensified stakeholder engagement programs at Tuticorin smelter
• Developed a strong tailings dam management standard, overseen by independent experts
• Implementing visible and felt leadership, supervision of safety-critical tasks, and better management of business partners

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• Supplier and Contractor Management Policies
• Supplier Screening Checklists

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Changes in water availability

Transition Risks

• Regulatory changes
• Increased costs for fossil fuels

Opportunities

• Increased demand for copper, zinc, and silver from renewable energy and electric vehicle industries

Reporting Standards

Frameworks Used: GRI Standards: Core option, UNGC, UN SDGs, ICMM, IFC Performance Standards

Certifications: ISO 14001

Third-party Assurance: KPMG (limited assurance)

UN Sustainable Development Goals

• SDG 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 12, 13, 15, 16, 17

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Hindustan Zinc ranked 5th globally in Metals & Mining category and 1st globally in Environmental Dimensions by Dow Jones Sustainability Index
• Cairn Oil & Gas won British Safety Council’s Sword of Honour
• Vedanta Aluminium Ltd. Jharsuguda won Aon Hewitt’s Best Employer Award

Environmental Metrics

ESG Focus Areas

• Responsible Stewardship
• Building Strong Relationships
• Adding and Sharing Value
• Strategic Communications
• Health, safety and environment (HSE)
• Emissions and climate change
• Managing relationship with stakeholders
• Tailings dam stability

Environmental Achievements

• Achieved ~13.83% reduction in GHG intensity over baseline of 2012
• Achieved water savings of 2.99 million cubic metres (Target: 3.5 million cubic meters)
• 105% of generated fly ash is being utilised
• Hazardous waste recycling rose to 56% compared to 52% in FY2019, and water recycling rate was 39% (FY2019: 34%)
• A tailing plant was commissioned at Zawar mine to reduce freshwater consumption by enhancing recovery of process water to 90%, to improve tailing dam structural stability and reduce the water footprint

Social Achievements

• CSR Programme Beneficiaries ~3.26 million
• Community investment US$41 million
• 1,302 Nand Ghars constructed
• 30% of all new hires are women
• Increased opportunities for career growth
• Improved training on safety
• 1.55 million person-hours of training on safety

Governance Achievements

• Third-party review of tailings/ash dyke management
• Sustainability assurance audits conducted through Vedanta Sustainability Assurance Programme (VSAP)
• A standard online community grievance record/redressal software (NIVARAN) established across the Group
• 100% new hires trained on Code of Conduct

Climate Goals & Targets

Environmental Challenges

• Seven fatalities occurred in the fiscal year
• Tailings dam stability
• Managing relationship with stakeholders
• Regulatory and legal risk
• Challenges in aluminium and power business
• Discovery risk
• Breaches in IT/cybersecurity
• Loss of assets or profit due to natural calamities
• Cairn-related challenges
• Regulatory and legal risk
• Tax-related matters
• Fluctuation in commodity prices (including oil) and currency exchange rates
• Major project delivery
• Access to capital

Mitigation Strategies

• System and development of specific improvement plan commitment to increase oversight from Group Executive (India operations) Committee (ExCo) to prevent future occurrences
• Policies and standards are in place to mitigate and minimise any HSE‑related occurrences
• Our BU teams are proactively engaging with communities and stakeholders
• The Group and its business divisions monitor regulatory developments on an ongoing basis
• Continue to pursue new coal linkages to ensure coal security
• Dedicated exploration cell with continuous focus on enhancing exploration capabilities
• Group-level focus on formulating necessary frameworks, policies, and procedures
• Vedanta has taken appropriate group insurance cover
• RJ PSC 2020 extension was issued by DGH subject to certain conditions. Ongoing dialogue with the government and relevant stakeholders to address the conditions
• A focused team continues to work on proactive refinancing initiatives
• The Group has a well-diversified portfolio, which acts as a hedge against fluctuations in commodities
• Empowered organisation structure has been put in place to drive growth projects

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN’s sustainable development goals

Certifications: ISO

Awards & Recognition

• CII-ITC Sustainability Award
• Best Environmental Sustainability Award
• 8th FICCI Safety Systems Excellence Award
• HSE Excellence Safety Champion of the Year Award
• ‘5Star’ by British Safety Council
• Genentech Safety Award 2019
• ‘5Star’ by Quality Circle Forum of India
• ‘5Star’ in ‘Par Excellence’ rating by Quality Circle Forum of India
• Energy Efficient Unit Award

Environmental Metrics

ESG Focus Areas

• Children’s Well-being & Education
• Women’s Empowerment
• Health Care
• Drinking Water & Sanitation
• Sustainable Agriculture & Animal Welfare
• Market linked Skilling the Youth
• Environment Protection & Restoration
• Sports & Culture
• Development of Community Infrastructure

Environmental Achievements

• Planted 83,000 trees in 247 acres of land, increasing Thoothukudi forest coverage by 1%
• Rejuvenated 4 tanks in Karnataka, improving groundwater table
• Planted more than 1.43 lakh saplings in Jharsuguda with >85% survival rate

Social Achievements

• Implemented Project Nand Ghar, modernizing over 2,400 Anganwadis impacting over 2 million people
• Launched #ForABetterKal campaign highlighting Nand Ghar's work
• Trained over 1.4 million youth through Vedanta Rojgar Yojana
• Supported over 15 lakh beneficiaries across 10 states during the Covid-19 pandemic
• Provided healthcare services to over 66,500 patients through mobile health units
• Empowered women through SHGs, generating income and creating livelihoods
• Supported 10 high-potential para-athletes from Rajasthan

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic impacting access to healthcare and education
• Unemployment among youth
• Malnutrition among women and children
• Water scarcity in certain regions
• Lack of access to quality education in rural areas

Mitigation Strategies

• Launched Covid-19 relief initiatives providing meals, masks, sanitizers, and medical support
• Revamped vocational training program into Employment-Linked Skill Training Program
• Implemented Project Nand Ghar to improve nutrition and education
• Implemented water management projects and provided safe drinking water facilities
• Implemented Project Nand Ghar and e-learning initiatives to improve access to quality education

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 9001:2015 (3 Nand Ghars in Odisha), NABH accreditation (Balco Medical Centre)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• CSR Shining Star Award (Nand Ghar)
• Health Impact Awards in CSR (Nand Ghar)
• Mahatma Award (BALCO)
• Greentech CSR India Award (BALCO)
• Five Star rating from FSSAI (Balco Medical Centre)
• NABH accreditation (Balco Medical Centre)
• Greentech Corona Warrior Award (ESL)
• Brand India Excellence Awards (ESL)
• 7th Annual India CSR Awards (ESL)
• Indian Chamber of Commerce Social Impact Award (Sesa Iron Ore)
• Kalinga CSR award (Vedanta Jharsuguda)

Environmental Metrics

ESG Focus Areas

• Climate Change & Decarbonisation
• Water Security
• Solid Waste Management
• Biodiversity
• Air Quality & Emissions Management
• Tailings Dam Management
• Workplace Health & Safety
• Community Development
• Grievance Management
• Compliance to Government Regulations
• Upholding Rights of Indigenous People
• Ethical Business Practices
• Diversity & Equal Opportunity
• Supply Chain Sustainability
• Human Rights
• Resource Efficiency
• Transparent Disclosure
• Learning & Development
• Brand Salience
• Governance for Sustainability
• Land Acquisition & Rehabilitation
• Pandemic Response & Preparedness
• Talent Attraction & Retention
• Noise & Vibration
• Materials Management
• Use of Recycled Materials

Environmental Achievements

• Launched Restora, India’s first low-carbon aluminium brand. Restora Ultra has a near-zero carbon footprint.
• Became India’s largest industrial consumer of renewable energy.
• Achieved ~100% recycling of High Volume Low Toxicity (HVLT) waste.
• Recycled 85.8 million m3 of water (around 30.6% of consumed water).
• Reduced GHG emission intensity by about 8.2% compared to the FY2021 baseline.

Social Achievements

• Impacted 4.64 million lives through community development projects.
• Built 3,200+ Nand Ghars.
• Reached 1,268 villages.
• Implemented Social Performance standards across all businesses.

Governance Achievements

• Unveiled a renewed ESG Purpose: ‘Transforming for Good’.
• Established a uniform ESG governance structure across the organisation.
• Expanded the scope of the Sustainability Board Committee to a Board ESG Committee.

Climate Goals & Targets

Environmental Challenges

• 12 fatalities occurred in FY2022 (mostly business partners).
• Supply chain disruptions.
• Climate change risks.
• Tailings dam stability.
• Community relations.
• Regulatory and legal risks.
• Commodity price fluctuations.
• Access to capital.
• Cairn-related challenges (legal disputes).

Mitigation Strategies

• Implemented Critical Risk Management program.
• Launched cross-business audits to share best safety practices.
• Onboarded DuPont Sustainability Solutions for safety improvements.
• Developed decarbonisation roadmap to achieve net carbon neutrality by 2050.
• Engaged with communities and stakeholders.
• Monitored regulatory developments.
• Implemented a diversified portfolio to hedge against commodity price fluctuations.
• Proactive refinancing initiatives.
• Ongoing dialogue with government and stakeholders regarding Cairn-related challenges.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Sustainable sourcing practices; clauses in contracts preventing child and forced labour.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Increasing regulation of greenhouse gas (GHG) emissions.

Opportunities

• Development of energy-efficient products (Restora).

Reporting Standards

Frameworks Used: GRI Standards, TCFD, International Integrated Reporting Framework

Certifications: ISO 45001, ISO 14001, ISO 50001

Third-party Assurance: S.R. Batliboi & Co. LLP

UN Sustainable Development Goals

• Goal 7, Goal 13

Not disclosed

Sustainable Products & Innovation

• Restora (low-carbon aluminium); Restora Ultra (ultra-low carbon aluminium).

Awards & Recognition

• Numerous awards across various categories (operational excellence, people practices, environmental and social performance, digitalisation).

Environmental Metrics

ESG Focus Areas

• environmental stewardship
• social equity and impact
• people excellence
• good governance

Environmental Achievements

• 4 sites declared water positive
• 162% HVL T waste utilization
• 788 MW (RTC) renewable energy power delivery agreements signed
• ~78,000 tonnes of biomass used in operations
• Avoided emissions of 4.17 million tCO2e based on the FY 2021 baseline and 14.62 million tCO2e based on the initial FY 2012 baseline
• GHG emission intensity reduced by 3%

Social Achievements

• 4,533 Nand Ghars completed, benefiting ~44 million people
• Skill-based training for 5,400 individuals
• Launched Nutribar, a millet-based supplement to eradicate malnutrition

Governance Achievements

• Received the prestigious ‘Golden Peacock Global Award for Excellence in Corporate Governance 2022’
• Published second TCFD Climate Change Report
• Released Business Responsibility and Sustainability Report

Climate Goals & Targets

Environmental Challenges

• 13 fatalities in FY2023
• Fluctuations in LME prices for aluminium, lead, and silver
• Headwinds in input commodity prices
• Supply chain disruptions
• Natural field decline at MBA fields (Oil & Gas)
• Challenges around sourcing raw materials and infrastructure-related aspects in Aluminium and Power business

Mitigation Strategies

• Focussed approach to reducing fatalities and improving overall workplace safety (including CRM implementation, safety infrastructure improvements, and employee training)
• Strategic hedging gains
• Cost optimization initiatives
• Vertical integration projects (including acquiring coal mines)
• Infill wells brought online in Mangala, Bhagyam and Raageshwari Deep Gas fields (Oil & Gas)
• Securing long-term coal supply at competitive prices
• Improving raw material security & local materialisation (bauxite & coal)

Supply Chain Management

Responsible Procurement

• Local procurement of 40%

Climate-Related Risks & Opportunities

Transition Risks

• Increasing regulation of greenhouse gas (GHG) emissions

Opportunities

• Development of energy-efficient products
• Transitioning to renewable energy

Reporting Standards

Frameworks Used: International Integrated Reporting Framework, GRI Standards, TCFD, BRSR

Certifications: ISO 27001 (Information Security), ISO 22301 (DR & BCP), ISO 31000 (Risk Management), ISO 27701 (Privacy Management)

UN Sustainable Development Goals

• Various SDGs mentioned throughout the report

Vedanta aligns its vision with the UN’s Sustainable Development Goals (UN SDGs)

Sustainable Products & Innovation

• Restora and Restora Ultra (green aluminium)
• Recycled copper rods

Awards & Recognition

• Numerous awards listed in the report across various categories

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Social Equity and Impact
• Good Governance
• Operational Excellence
• Digitalization and Innovation

Environmental Achievements

• Avoided emissions of 4.17 million tCO2e based on the FY 2021 baseline and 14.62 million tCO2e based on the initial FY 2012 baseline.
• Signed 788 MW (RTC) renewable energy (RE) power delivery agreements (PDAs).
• Used ~78,000 tonnes of biomass in operations, a ~4x increase over FY 2022 levels.
• Four sites have attained water-positive status (HZL, IOB, Cairn India and BMM)
• 29.8 million tonnes HVLT waste utilisation (162% for FY 2023)
• 28.1 million tonnes utilisation for Fly Ash (204%)
• Legacy waste reduced from 62 million tonnes to 45 million tonnes

Social Achievements

• 4,533 Nand Ghars completed, benefiting 44 million community members.
• Skill-based training for 5,400 individuals.
• Launched Nutribar: A millet-based supplement to eradicate malnourishment.
• 765 people skilled and successfully employed at BALCO.
• 14% women in the organisation, 28.23% women in decision-making bodies, 9% women in leadership positions.

Governance Achievements

• Improved ESG rating in MSCI, DJSI, Sustainalytics and CDP.
• 15% of executives’ total variable pay linked to business’ VSAP score (70 or higher).
• No significant votes against directors.
• Rajasthan PSC extension for 10 years executed.

Climate Goals & Targets

Environmental Challenges

• Market volatility due to geopolitical conflict, energy crisis, and monetary policies.
• Supply chain disruptions.
• Higher input commodity prices.
• Natural field decline in Oil & Gas.
• Tuticorin smelter closure.
• 13 fatalities in HZL.

Mitigation Strategies

• Cost optimization initiatives.
• Disciplined capital investments.
• Working capital initiatives.
• Marketing initiatives.
• Infill wells in Oil & Gas.
• Renewable energy sourcing.
• Recycled copper production.
• Critical Risk Management (CRM) program.
• Improved safety infrastructure.
• Employee and business partner training.

Supply Chain Management

Responsible Procurement

• Local procurement

Climate-Related Risks & Opportunities

Transition Risks

• Increasing regulation of greenhouse gas (GHG) emissions

Opportunities

• Renewable energy
• Green products

Reporting Standards

Frameworks Used: GRI, TCFD, IR Framework, BRSR, UNGC, ICMM, VPSHR, TNFD

Certifications: ISO 14001, ISO 45001

UN Sustainable Development Goals

• All UN SDGs

Vedanta aligns its ESG strategy with the UN SDGs.

Sustainable Products & Innovation

• Green zinc
• Green copper
• Green aluminium (Restora, Restora Ultra)

Awards & Recognition

• Golden Peacock Global Award
• Kincentric Best Employer Award
• Great Place to Work Award
• Many others listed in the report

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Secured top scores in categories such as Transparency & Reporting, Biodiversity Management, Resource Efficiency & Circularity, and Waste Management.
• Hindustan Zinc is a certified Water Positive company.

Social Achievements

• Hindustan Zinc is amongst the Top 10 CSR Spenders in India.
• Hindustan Zinc has been relentlessly working towards transforming lives of 1.7 million people in 237 villages.
• Hindustan Zinc certified as – ‘Great Place to Work 2023’, ‘Company with Great Managers 2022’ by People Business and the ‘People-first HR Excellence Award’.

Governance Achievements

• Vedanta Ltd. has been listed in Dow Jones Sustainability World Index and conferred Golden Peacock Award for excellence in Corporate Governance 2022.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: S&P Global Corporate Sustainability Assessment

Awards & Recognition

• S&P Global Platts Metal Award 2022 for ‘Industry Leadership Award – Base, Precious & Specialty Metals’ Award and ‘Corporate Social Responsibility’ Award
• Golden Peacock Award for excellence in Corporate Governance 2022

Environmental Metrics

ESG Focus Areas

• Safety
• Community Development
• Environmental Sustainability
• Gender Diversity

Environmental Achievements

• Zero higher category environmental incidents
• Water savings of 7.16 MCM
• Energy savings of 0.94 million GJ
• 50% non-hazardous waste recycling rate
• 23% water recycling rate
• Guinness Book of World Records entry for planting over 200,000 saplings in one hour

Social Achievements

• Community development programs benefiting over 2.25 million people
• US$37 million invested in community development
• 1.53 million training hours delivered to all staff
• Increased gender diversity on the Board, Executive Committee, and across the broader organization
• 9.4% women in the workforce

Governance Achievements

• Implementation of a Group-wide SAP – Environment, Health and Safety (EHS) IT solution
• Publication of the first voluntary tax transparency report for FY2015
• Strengthened Supplier Code of Conduct and Supplier & Contractor Sustainability Management Policy

Climate Goals & Targets

Environmental Challenges

• 12 fatalities recorded during FY2016
• Lower commodity prices impacting earnings, balance sheets, and investor perceptions
• Challenges in the extension of the production sharing contract of Cairn (beyond 2020) or extension at less favourable terms
• Difficulties in managing the transition from open pit to underground mining operations
• Fluctuation in commodity prices (including oil)
• Currency exchange rate fluctuations
• Tax-related matters
• Breaches in information/IT security
• Political, legal, and regulatory risk
• Community relations
• Health, safety, and environmental risks
• Talent/skill shortage risk
• Loss of assets or profit due to natural calamities

Mitigation Strategies

• Implementation of behavioral-based and technical safety programs
• Cost reduction program
• Optimisation of operations to drive efficiencies and product mix optimisation
• Robust controls in forex management to hedge currency risk liabilities
• Robust organisation in place at business and Group level to handle tax-related matters
• Increased standards, ongoing monitoring of threats, and awareness initiatives for IT/cyber security
• Proactive environmental, safety, and CSR practices
• Strengthened contract management framework
• Establishing and maintaining close links with stakeholders
• Compliance with international and local regulations and standards
• Investment in initiatives to widen the talent pool
• Appropriate Group insurance cover
• Continuous focus, monitoring, and periodic review of assets

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• Supplier & Contractor Sustainability Management Policy

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UNGC, IFC, ICMM, OECD

Certifications: ISO 14001

Awards & Recognition

• CII – Sustainable Plus (Platinum rating)
• National Energy Conservation Award
• Global IOD Awards for Excellence in Corporate Governance and Sustainability

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Reduced GHG emissions intensity by 3.56% in FY2023 against the baseline year of FY 2021.
• 788 MW of renewable energy (RE) round-the-clock (RTC) Power Delivery Agreements (PDAs) signed (31.5% of 2030 target).
• 4x increase in use of biomass in operations (FY23: ~78,000 MT Vs FY22: 18,000 MT).
• 233 MW RTC equivalent of renewable energy used (FY21: 67 MW).
• Introduction of an Internal carbon pricing (ICP) across all businesses: $15/tCO2e (average price).
• Nearly 164% of high-volume-low toxicity waste reused in FY2023.
• 5% reduction in overall water consumption.

Social Achievements

• Introduction of EV purchase policy for employees.
• Community support programs to address climate change impacts.
• Launch of Restora and Restora Ultra green aluminum products generating ~$150 million in revenue.

Governance Achievements

• Established a comprehensive governance framework to integrate climate change considerations into business operations and strategic planning.
• Board ESG Committee and other relevant governance bodies regularly discuss ESG issues.
• Executive Compensation linked to ESG (15% weighting, including 10% for sustainability).

Climate Goals & Targets

Environmental Challenges

• Water scarcity at multiple business units.
• Flooding at iron ore business units.
• Cyclone risks at aluminum units.
• High temperatures at multiple units.
• Increased demand for greener products.
• CBAM costs.
• Higher costs of raw materials.
• Cost of switching to cleaner energy sources.
• Potential carbon tariffs linked to trade.
• Increased regulatory and compliance costs.
• Phase down of coal.
• Loss of market shares due to customers switching to RE options.
• Exposure to litigation including non-compliance with reporting, negative impacts to climate change/environment.

Mitigation Strategies

• Investing in renewable energy.
• Improving energy efficiency.
• Developing low-carbon products.
• Transforming operations to be more sustainable.
• Implementing an internal carbon price.
• Developing a supplier engagement program.
• Developing BU-level adaptation plans.
• Policy advocacy.
• Engaging with external key stakeholders.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Water scarcity
• Flooding
• Cyclones
• High temperatures

Transition Risks

• Increased demand for greener products
• CBAM costs
• Higher costs of raw materials
• Cost of switching to cleaner energy sources
• Potential carbon tariffs
• Increased regulatory and compliance costs
• Phase down of coal
• Loss of market shares due to customers switching to RE options
• Exposure to litigation

Opportunities

• Demand for low-carbon metals
• Development of energy-efficient products
• Renewable energy in operations

Reporting Standards

Frameworks Used: GRI, TCFD, UNGC, SASB

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Restora and Restora Ultra (green aluminum)
• Green copper (pilot project)

Awards & Recognition

• Not disclosed