Vedanta Foundation, the philanthropic and CSR arm of Vedanta Limited. The social development organization is committed to bringing about positive change in the lives of communities and society at large. The foundation works towards empowering individuals and communities through a range of sustainable initiatives that create a lasting impact.
Anil Agarwal established Vedanta Foundation to execute philanthropic programs and initiatives. Agarwal has committed to donating 75 percent of his family’s wealth to charitable causes, citing inspiration from Bill Gates.
Here are 10 facts you should know about Vedanta Foundation:
1. Established in 1992
Corporate social responsibility (CSR) has become an increasingly important aspect of business in recent years. Companies in India are recognizing the importance of contributing to the well-being of society and the environment. One such company is Vedanta Limited, a leading natural resources company. It has established the Vedanta Foundation to drive social impact through sustainable development.
The non-profit organization was established in the year 1992 with a vision to create a better world for everyone. Over the years, it has implemented several programs and initiatives that have positively impacted millions of lives. It is committed to creating a better world for everyone through sustainable initiatives that create a lasting impact. Its focus on education, healthcare, women and child empowerment, livelihood, environmental sustainability, and disaster relief and rehabilitation makes it a valuable partner in driving positive change across India.
Governance: Late Dwarka Prashad Agarwal, who passed away on January 2, 2020, is the founder of Vedanta Foundation, while Anil Agarwal serves as the current chairman of Vedanta Limited and Suman Didwania is a trustee of Vedanta Foundation.
2. Areas of Focus
The foundation focuses on six key areas, including education, healthcare and sanitation, women and child empowerment, livelihood and entrepreneurship, environmental sustainability, and disaster relief and rehabilitation.
3. Education Initiatives
Vedanta Foundation believes that education is the key to empowering individuals and communities. It has launched several initiatives, such as Project Nandghar, to provide quality education to children in rural areas.
- 3 Collages: Vedanta Foundation operates one school and three colleges that prioritize providing quality education to underprivileged students. These educational institutions aim to eliminate financial barriers. It offers a supportive environment for students to excel in their studies. Vedanta Colleges are specifically designed to equip students with the necessary skills for employment. The initiative has been enabling them to become valuable contributors to their families and communities upon graduation.
- Vedanta Gurukul: The foundation also runs Vedanta Gurukul School, Reengus was established in 2008.
- Vedanta Rojgar Yojana: The foundation has trained over 1.4 million youth through its 170 Vocational Training Centeres.
3. Healthcare and Sanitation
The foundation works towards improving healthcare and sanitation facilities in rural and remote areas. It has launched several programs, such as Mobile Health Van, to provide healthcare services to underserved communities.
Vedanta Foundation also runs the Vedanta Charitable Hospital and Research Center at Reengus, Rajasthan, which was established in 2010. The hospital was established to provide free medical facilities to the needy in Reengus, Rajasthan, and nearby villages. The hospital is managed by a team of dedicated doctors who attend to more than 100 patients daily. Along with outpatient departments, there are X-Ray, pathology, physiotherapy departments, and a maternity ward. The hospital organizes eye camps with the support of district Chief Medical Health Officer (CMHO) grants, every month people benefit from free eye-check-ups and cataract cures, and the hospital annually attends to over 16,000 beneficiaries from the community.
4. Women and Child Empowerment
Vedanta Foundation is committed to empowering women and children through a range of initiatives. It has launched programs such as Vedanta Sakhi, which provides vocational training to women, and Bal Chetna, which focuses on the holistic development of children.
Women from self-help groups in Rajasthan and Mumbai were trained in tailoring, along with skills in advanced stitching machines, and know-how of different fabrics. The S.H.G leaders procure garment-making contracts for the centers which generate revenue for them.
The Foundation assigns stitching projects as well – uniforms for Vedanta College and Vedanta schools, laptop sleeves, bags, and more. In recent times they have been stitching masks and pharmaceutical suits. With small contracts like these, women also learn the basics of operating small businesses.
5. Livelihood and Entrepreneurship
The foundation believes in promoting livelihood and entrepreneurship opportunities in rural areas. It has launched several programs, such as Vedanta Kisan Mitra, which provides agricultural training to farmers, and Vedanta Rural Entrepreneurship Development Program, which helps entrepreneurs start and grow their businesses.
6. Environmental Sustainability
Vedanta Foundation is committed to promoting environmental sustainability through a range of initiatives. It has launched programs such as Sustaining Himalayas, which focuses on conserving the fragile ecosystem of the Himalayas.
7. Disaster Relief and Rehabilitation
The foundation works towards providing relief and rehabilitation services to communities affected by natural disasters. It has launched programs such as Vedanta Cares, which provides relief and rehabilitation services to communities affected by natural disasters.
8. Philanthropic Partnerships
Vedanta Foundation collaborates with several philanthropic organizations and government bodies to implement sustainable initiatives that create a lasting impact.
9. Impact and Recognition
Over the years, Vedanta Foundation has positively impacted millions of lives across India. Its initiatives have been recognized and appreciated by several organizations, including the United Nations Global Compact and the Confederation of Indian Industry.
10. Annual CSR Budget
In FY’20-21, Vedanta Limited’s CSR contribution amounted to approximately Rs. 3.31 billion, positively impacting more than 40 million people. The company’s programs span various areas, and a snapshot of these initiatives is presented below.
The community plays a significant role in the growth and sustainability of businesses. The company has established a robust community empowerment program and actively seeks input from stakeholders to enhance its initiatives continually.
Each Group companies has aligned its CSR programs to cater to the needs of the communities in the geographic locations where they operate. A CSR Council comprising CSR Heads and executives from all business units is responsible for governance, synergy and cross-learning across Vedanta.
