Nalco generated about 614 MWh of solar energy from our rooftop PV solar power plant installed across the Corporate Office, refinery, and Bauxite mines.
NEW DELHI (India CSR): National Aluminium Company Limited (NALCO) has unveiled its 13th Sustainability Report for 2023-24, showcasing its commitment to integrating Environmental, Social, and Governance (ESG) principles into its core business strategy. The report, aligned with GRI Sustainability Reporting Standards, reflects the company’s efforts to drive sustainable growth and development.
The report highlights NALCO’s progress in fostering a clean industrial future and sustainable development.
“This report encapsulates our commitment to a clean industrial future and sustainable development, embracing our continuous efforts on the triple bottom line of economic, environmental, and social stewardship,” stated Sridhar Patra, Chairman cum Managing Director of NALCO.
“Our vision is to manage our environmental footprint alongside our growth and enhance our significant social impact.”, he added.
of 06
Navigating the Green Transition
The report highlights NALCO’s achievements amid a challenging global landscape characterized by ongoing geopolitical tensions, inflation, and market instability in 2023. Despite these challenges, the demand for aluminium, driven by green technologies and renewable energy initiatives, has provided significant growth opportunities.
Recognizing the shift towards a low-carbon circular economy as a megatrend, NALCO has positioned itself to create substantial value. Its integrated value chain delivers sustainable products, ensuring shared value creation for both customers and shareholders. Employees remain NALCO’s greatest asset, with their dedication fostering innovation, operational agility, and a greener product portfolio.
“While transitioning to a low-carbon circular economy presents significant challenges, we view it as a fundamental megatrend that will shape our future and a significant value creation opportunity for NALCO,” noted Patra.
NALCO’s integrated value chain, delivering sustainable products, remains focused on creating shared value for both customers and shareholders.
Environmental Stewardship: Leading the Green Agenda
NALCO continues to lead in environmental sustainability by implementing cutting-edge technology and initiatives:
- Generated 313 MU of wind energy, surpassing the previous year by 11.7%.
- Produced 614 MWh of solar energy from rooftop PV solar plants across its offices and operations.
- Planted 1,50,717 saplings as part of its green-belt initiatives.
To promote sustainable practices, NALCO distributed fruit-bearing seedlings, natural pesticides, and fertilizers to local communities, ensuring active community participation in conservation efforts.
02
of 06
Employees: The Foundation of ESG Success
Acknowledging the pivotal role of employees, Patra remarked, “NALCO’s greatest asset, however, is our employees, who contribute to our strength and resilience in a rapidly evolving world. Driven by dedication and determination, our people leverage their skills and experience to achieve our ambitious strategic goals.”
The company fosters a diverse and inclusive workplace, which it considers vital for improving greener product offerings, cost efficiency, and market positioning.
03
of 06
Operational Milestones Reflecting ESG Commitment
NALCO achieved significant milestones in FY 2023-24, signaling its progress in economic, environmental, and social excellence:
- A 33% increase in after-tax profit margin, highlighting economic sustainability.
- 1.4% growth in export turnover, demonstrating strong global performance.
- Record production levels:
- 75.27 lakh metric tonnes of bauxite.
- Enhanced Alumina Hydrate production by 0.5%.
- Achieved 4.63 lakh MT cast metal production in its Aluminium Smelter.
“Over the decades, NALCO has earned its reputation as synonymous with excellence,” said Patra. “Tackling enormous operational uncertainties, the company has sustained its performance consistency.”
04
of 06
Environmental and Social Stewardship
NALCO reinforced its leadership in environmental stewardship with substantial initiatives:
- Generated 313 MU of wind energy, exceeding the previous fiscal year’s production by 11.7%.
- Produced 614 MWh of solar energy through rooftop PV solar plants.
- Planted 1,50,717 saplings as part of its green-belt initiatives.
“We believe that growth comes with accountability for mitigating environmental impacts as a way to deliver sustainable returns,” said Patra.
05
of 06
Empowering Communities Through CSR
NALCO’s CSR initiatives have continued to transform lives, especially among marginalized and vulnerable communities. In FY 2023-24, the company invested Rs. 50.54 crore in CSR projects, a 27% increase from the previous year, benefiting approximately 65% of vulnerable groups.
“NALCO’s commitment to corporate social responsibility extends beyond our core business. We’ve invested significantly in empowering tribal women through self-help groups, safeguarding their ancestral arts and crafts. Moreover, our support for the historic city of Puri reflects our dedication to preserving India’s rich cultural heritage. These initiatives are integral to our vision of creating a sustainable and inclusive future for the communities we serve.,“ emphasized Patra.
06
of 06
Moving Towards a Sustainable Future
NALCO aims to drive the global transition to a net-zero economy, with aluminium playing a critical role in clean energy solutions and sustainable systems. As the world transitions towards clean technologies and a net-zero economy, NALCO recognizes its pivotal role in this journey. Aluminium is a key enabler of green technologies, clean energy solutions, and sustainable systems. The report emphasizes that it is not just about producing the right products but doing so responsibly.
“At NALCO, we will keep on making strides to be recognized among the world’s most responsible metals and mining companies in everything we do or venture to,” concluded Patra.
©IndiaCSR
