Vedanta announces mission statement“ Transforming for Good” in line with ESG Goals
• New mission statement is backed by 3 pillars: Transforming communities, Transforming the planet, and Transforming the workplace
• Company is focused on being the ESG leader in the natural resources sector.
Vedanta, a global natural resources company, has announced the evolution of its mission statement to strengthen the group’s commitment to ESG. Vedanta is planning to be the ESG leader in the natural resources sector and has committed to reducing carbon emissions to zero by 2050 or sooner. The company has pledged $5 billion over the next 10 years to accelerate the transition to net-zero operations. As a part of the process, the company has repurposed its mission statement to Vedanta – ‘Transforming for Good’, to make a meaningful difference to society at large.
Priya Agarwal, Director, Vedanta Ltd. said “As a diversified natural resources company, Vedanta is committed to delivering sustainable and responsible growth, relying on the principles of environmental stewardship, social equity and impact, and good corporate governance. With this new identity, we want to further our commitment towards ESG in everything we do.”
Vedanta’s new positioning is backed by three pillars – Transforming communities, Transforming the planet, and Transforming the workplace. The new mission statement is significant as it focuses on Vedanta adopting best practices and policies across the ESG space for the greater good.
Transforming Communities
• Aim 1. Responsible business decisions based around community welfare
• Aim 2. Empowering over 2.5 million families with enhanced skillsets.
• Aim 3. Uplifting over 100 million women and children through Education, Nutrition, Healthcare, and Welfare.
Transforming the Planet
• Aim 4. Reduction in carbon emission intensity by 25% by 2030, and net-carbon neutrality by 2050
• Aim 5. Innovations for greener business model
• Aim 6. Achieving net water positivity by 2030
Transforming the Workplace
• Aim 7. Prioritizing the safety and health of all employees
• Aim 8. Promote gender parity, diversity, and inclusivity
• Aim 9. Adhere to global business standards of corporate governance
Vedanta has been at the forefront of sustainable practices and is leveraging new technologies to safeguard the environment and communities. Guided by the philosophy of `Zero Harm, Zero Waste, Zero Discharge’, Environmental, Social and Governance (ESG) practices are at the heart of Vedanta’s operations which are focused on delivering sustainable and responsible growth thereby creating value for all stakeholders.
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