By Rusen Kumar
MUMBAI: Businesses and communities depend on each other to create an empowered and a prosperous society. To nourish and nurture this interdependent relationship, Indian corporates consistently investing money, time and resources in community development programmes where they have business operations and production facilities.
Vedanta Limited, one of the world’s largest diversified natural resources companies, has emerged as the leading company in terms of corporate social responsibility (CSR), having spent over Rs 246 crore (USD 37 mn) in FY 2015-16 in social development projects, which is 0.33% of its revenue and 0.33% higher as compare to the FY 2013-14, it’s Sustainable Development Report 2015-16 highlighted.
The report is an approach and disclosure towards triple bottom line principles – people, planet and profit over the financial year 2015-16.
“We invested US$37 mn in community development initiative aimed at driving economic empowerment and social equality, benefiting approximately 2.25 mn people.”, Tom Albenese, CEO, Vedanta said.
“At a time of slowing economic growth around the world and challenging conditions in our sector, we continue to implement our social programmes.”, he added in his message in said report.
Report titled ‘Working Together Growing Together’ said that it has benefited 2.25 million lives at 578 core villages and 1010 peripheral villages in the work area of education, health, water and sanitation, women empowerment, skill enhancement, farming and animal husbandry.
“As corporate citizens, we are committed to address the climate change challenge with the same vigour as we pursue economic and social development.”, Anil Agarwal, Chairman, Vedanta said in message in the report.
“We continued to make an important contribution to our communities, through job creation, payment of taxes, creating access to resources and enabling strong linkages to other industries. We empowered local community and aligned our focus area with the priority needs of nations.”, he said.
Vedanta released recently its 8th Sustainable Development Report for its group companies, which is prepared based on Global Reporting Initiative (GRI) G4 – ‘in accordance’- Core guidelines and is mapped to the United Nations Global Compact (UNGC) and Sustainable Development Goals (SDGs).
“Our community development engagement process, together with baseline studies and needs assessments, help us to develop initiatives for local community in pressing area of need.”, report said.
“The majority of our initiative of our initiatives are carried out in collaboration with community organizations and are developed in partnership, utilising a need based approach to community investment, underpinned by the use of ‘Public-Private-People-
The 67 pages report highlighted the wide range of business responsibility and sustainability issues that impact stakeholders and community. They report on how Vedanta is managing these constantly evolving issues and provided a deep insight into future aspects of interventions.
With an aim to modernize the Anganwadi infrastructure in the country, Vedanta signed a MoU with the Ministry of Women & Child Development, Govt of India to construct 4000 modern Anganwadis across the country. It has aim to benefit 400,000 children and women every year. Vedanta has also adopted 5 villages to transform into model village with sanitation, health, education and empowerment facilities.
Vedanta has joined hands with the Government of India to transform Early Childhood Care and Education Centres, Anganwadis, in India. We have embarked on an ambitious goal to create a network of 4000 modern Anganwadis in India which will be known as “Nandghars”.
Vedanta group companies: Vedanta Limited, Bharat Aluminium Company Ltd. (BALCO), Konkola Copper Mines, Copper Mines of Tasmania, Hindustan Zinc Ltd, Talwani Sabo Power, Cairn India, Zinc International, Sterlite Copper, Sesa Iron Ore.
Vedanta Resources is a London Stock Exchange listed, globally diversified natural resources Company with interests in Zinc, Lead, Silver, Copper, Iron Ore, Aluminium, Power, and Oil & Gas. Our operational footprint spans four continents encompassing India, Zambia, Namibia, South Africa, Liberia, Ireland, Sri Lanka and Australia.