Bhubaneswar: Vedanta Aluminium, India’s largest producer of aluminium, announces securing the top rank in the esteemed S&P Corporate Sustainability Assessment (CSA) rankings for the aluminium industry, for the assessment period 2023. This definitive benchmark reiterates Vedanta Aluminium’s position as the world’s most sustainable aluminium producer, outperforming its global peers on Environment, Social and Governance (ESG) practices.
The S&P Global Corporate Sustainability Assessment (CSA) is an annual evaluation of companies’ sustainability practices. It covers over 10,000 companies from around the world. The CSA focuses on sustainability criteria that are both industry-specific and financially material, and is considered the premier external sustainability assessment by leading companies. Previously, Vedanta Aluminium held the 2nd rank among aluminium industries globally as per the 2022 assessment. Over the past year, the company achieved a substantial increase across all assessed areas, namely, Environment, Social and Governance performance. This has culminated in an increase in its overall CSA assessment score, enabling the company to secure the top rank in 2023.
Leading companies across various industries undergo annual evaluations of their sustainability practices. Vedanta Aluminium scored high on the assessed criteria, especially on biodiversity, occupational health & safety, social impact, human rights, talent planning and water management practices.
Aluminium is playing an increasingly significant role in enabling sustainable applications and aiding entire economies in decarbonizing their value chains and enabling the global energy transition. Vedanta Aluminium has committed to achieve Net Zero by 2050, adopting a two-fold strategy of reducing and offsetting its carbon footprint. In terms of reduction, the company is focused on increasing the quantum of renewables in its energy mix, enhancing its manufacturing excellence to ensure higher operational efficiencies, and transitioning to low-carbon energy sources such as biofuels. To offset its residual carbon footprint, the company is also creating substantial carbon sinks through extensive afforestation efforts. Through its operations, the company is enabling wider global access to responsibly produced, high-quality aluminium to ensure a greener future for the planet.
Speaking on the achievement, John Slaven, CEO, Vedanta Aluminium said, “We have embarked on a transformative journey where our commitment to sustainability goes beyond business compliance to focusing on how we can make a positive impact on the environment. Securing the top rank in the S&P Global CSA recognizes our commitment to fully embed sustainability practices across every facet of our value chain, from sourcing to product delivery. We are prioritizing higher resource efficiencies, greater use of renewables in our energy mix, ’converting waste into wealth’ while also ensuring the safety and well-being of our employees and forging enduring partnerships with our communities for inclusive development. Through these efforts, Vedanta Aluminium is crafting a legacy of environmental stewardship, paving the way for a more sustainable future.”
The key milestones achieved by the company in its journey towards sustainability are:
- Reducing GHG emissions intensity by ~8% in FY23 over the FY21 baseline while increasing production by ~16%
- Achieving a noteworthy 11% reduction in water withdrawal from freshwater sources
- Significant freshwater usage savings of 1.5 million cubic meters
- Doubling waste utilization to 200% in FY23, boosting circular economy avenues
- Collaborating on over 40 rural community water bodies restoration projects
- Inducting India’s largest fleet of electric forklifts, reducing carbon footprint arising from logistics
- Positively impacting over 6.3 lakh women and children through focused social interventions
- Increasing community investments by over 45% in FY23, to drive extensive initiatives in education, healthcare, livelihood, community infra, and grassroot art, culture & sports
- Diversifying employee hiring to include transgender and differently-abled professionals in core operations, making Vedanta Aluminium a truly inclusive workplace.
