First corporate from South Asia to join 1T.org initiative at COP 27 in Egypt. Pledges to grow 7 million trees by 2030 to combat climate change
New Delh: In a major step towards sustainability, Vedanta, a global Indian natural resources company, partnered with the World Economic Forum by joining 1t.org – the One Trillion Tree platform. As part of this movement, Vedanta pledges to grow 7 million trees for creating a resilient environment and is the only company in South Asia to be a part of this noble initiative. Vedanta’s pledge marks a major announcement at the ongoing COP 27 summit at Sharm El Sheikh, Egypt.
The Group will realize the pledge through plantations across the country with maximum contribution of more than 3.5 million trees in the state of Rajasthan followed by over a million trees in Odisha.
Speaking on the initiative, Priya Agarwal Hebbar, Non-Executive Director, Vedanta said, “We are thrilled to join hands with the World Economic Forum for their 1 trillion trees movement. Our pledge of growing 7 million trees will be instrumental in fulfilling our ESG goals of combatting climate change and achieving net zero carbon emissions. It is a great platform to safeguard and restore the ecosystem and to further our commitment towards building a sustainable future.”
Vedanta has recently been ranked among the top 10 global metals and mining companies in the S&P Global Corporate Sustainability Assessment 2022. The company’s Biodiversity policy and management standards ensure that they conserve and enhance the biodiversity while working to protect the natural ecosystem in their areas of operations. For this, the company has collaborated with various partners and indigenous people to develop integrated land use, habitat conservation, and restoration strategies and to implement the biodiversity mitigation hierarchy.
Sunil Duggal, Group CEO, Vedanta Limited shares, “Protecting our ecosystem is at the core of Vedanta’s business ethos. The 1t.org pledge marks a significant step towards our vision of transforming the planet. Through reforestation, agroforestry, and mangrove restoration, we will be furthering our environmental conservation efforts. With our renewed focus on ESG, Vedanta has significantly moved up in the S&P Global Sustainability Rankings (erstwhile DJSI) with a strong 14-point improvement in its sustainability score this year.”
Sustainability has been part of Vedanta’s core ethos and decision making with transformation for a sustainable future at the center of its business activities. This initiative is in line with the company philosophy as it is an emphasis on development for preserving and reestablishing the vital ecosystem services and biodiversity on which communities and economies depend on. Additionally, it would enable the firm in achieving its ESG goals and climate change mission.
World Economic Forum’s 1 Trillion Tree (1t.org) movement aims to conserve, restore and grow one trillion trees worldwide. It seeks to repopulate the world’s trees and combat climate change as a nature-based solution. The campaign is part of the WEF’s efforts to accelerate nature-based solutions and was set up to support the UN Decade on Ecosystem Restoration 2021-2030. This Corporate Alliance welcomes companies that are ready to play a leadership role in the space of forest conservation and restoration.
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