Vedanta on Wednesday said it aims to be the leader in ESG (environmental, social, and governance) performance in the natural resources sector and has committed to reducing carbon emissions to net zero by 2050.
The company announced the evolution of its mission statement to strengthen the group's commitment to ESG performance.
It has pledged USD 5 billion in the next 10 years to accelerate the transition to net-zero operations. As 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.
Vedanta Director Priya Agarwal 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."
She added that with this new identity, the company wants to further its commitment towards ESG in everything it does.
Vedanta's new positioning is backed by three pillars transforming communities, planet and 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.
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', ESG practices are at the heart of Vedanta's operations that are focused on delivering sustainable and responsible growth, thereby creating value for all stakeholders.
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