Vedanta Aluminium, one of India’s leading aluminium producers, has announced its top-ranking position in S&P Corporate Sustainability Assessment (CSA) for the aluminium industry during the evaluation period of 2023. This achievement enhances Vedanta Aluminium’s position as the one of the most sustainable aluminium producers in the world, surpassing global counterparts in Environment, Social, and Governance (ESG) practices.
Vedanta Aluminium, a division of Vedanta Limited, is one of the largest aluminum producers of India, manufacturing over half of the country’s aluminum (2.29 million tonnes in FY23). Known for its leadership in value-added aluminum products crucial to core industries, Vedanta Aluminium secures the top spot in the S&P Global Corporate Sustainability Assessment 2023 for the global aluminum industry. With state-of-the-art aluminum smelters and an alumina refinery in India, the company actively promotes the use of aluminum as the ‘Metal of the Future’ for a more environmentally friendly future.
The S&P Global Corporate Sustainability Assessment (CSA), conducted annually, rigorously evaluates companies’ sustainability initiatives on a global scale, encompassing over 10,000 firms. Widely recognized as the premier external sustainability assessment, the CSA focuses on industry-specific and financially significant sustainability criteria. Notably, Vedanta Aluminium held the second position globally in the 2022 assessment but has now ascended to the top spot in 2023 due to substantial improvements across all assessed areas – Environment, Social, and Governance.
Over the past year, Vedanta Aluminium demonstrated significant progress in its environmental, social, and governance performance, leading to an overall boost in its CSA assessment score. This elevated score positions the company at the forefront of sustainable practices within the aluminium industry.
Vedanta Aluminium excelled in various criteria, with particularly high scores in biodiversity, occupational health and safety, social impact, human rights, talent planning, and water management practices. The company’s commitment to sustainability is evident in its strategic approach to address key areas, contributing to its outstanding performance in the CSA rankings.
The aluminium industry plays a pivotal role in fostering sustainability, aiding economies in decarbonizing their value chains and facilitating the global energy transition. Vedanta Aluminium, acknowledging the significance of this role, has committed to achieving Net Zero by 2050. The company’s strategy involves a dual focus on reducing and offsetting its carbon footprint.
In terms of reduction, Vedanta Aluminium is prioritizing the integration of renewables into its energy mix, optimizing manufacturing processes for higher operational efficiencies, and transitioning to low-carbon energy sources like biofuels. To offset its residual carbon footprint, the company is actively engaged in extensive afforestation efforts, creating substantial carbon sinks.
Vedanta Aluminium’s operations contribute to global access to responsibly produced, high-quality aluminium, aligning with the vision for a greener future. This commitment is reflected in the CEO, John Slaven’s words, “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.”
The top rank in the S&P Global CSA for 2023 recognizes Vedanta Aluminium’s dedication to embedding sustainability practices across its entire value chain – from sourcing to product delivery. The company emphasizes resource efficiencies, increased use of renewables, waste utilization, employee safety, and community partnerships for inclusive development.
Vedanta Aluminium’s Sustainable Development Report FY23 provides a detailed exploration of the efforts contributing to its top-ranking position in the CSA rankings. The report, accessible on the company’s website, delves into the various milestones achieved in its sustainability journey.
Key achievements include an 8% reduction in greenhouse gas emissions intensity in FY23 compared to the FY21 baseline, coupled with 16% increase in production. The company also achieved an 11% reduction in water withdrawal from freshwater sources, saving 1.5 million cubic meters of freshwater. Vedanta Aluminium’s commitment to the circular economy is evident in the doubling of waste utilization to 200% in FY23, fostering avenues for sustainable practices. The company actively collaborated on over 40 rural community water bodies restoration projects, contributing to local environmental conservation.
In logistics, Vedanta Aluminium took a significant step by inducting India’s largest fleet of electric forklifts, reducing the carbon footprint associated with transportation. Socially impactful initiatives include positively impacting over 6.3 lakh women and children through focused interventions, coupled with a 45% increase in community investments in FY23. The company demonstrated inclusivity in its workforce by diversifying employee hiring to include transgender and differently-abled professionals in core operations, fostering a truly inclusive workplace at Vedanta Aluminium.
