Sustainable Development & Community

Overview

As a diversified natural resources company, Vedanta is committed to delivering sustainable and responsible growth, which creates value for both our shareholders and all our stakeholders.

Image
Image
Sustainable Development Framework

Our sustainable development agenda is built on four pillars - Responsible Stewardship; Building Strong Relationships; Adding and Sharing Value; and Strategic Communications - developed in line with our core values, internal and external sustainability imperatives (such as materiality) , UNGC's 10 principles, United Nation's SDGs and standards set by International Finance Corporation (IFC), ICMM and OECD.

Responsible Stewardship; Building Strong Relationships; and Adding and Sharing Value, capture the processes and activities we undertake to ensure our future - from securing the health and safety of our people and making economic, socioeconomic and social contributions to the communities and regions where we operate, to managing our environmental footprint.

The fourth pillar - Strategic Communications - reflects our commitment to becoming a more transparent and responsible corporate citizen, in addition to highlighting our emphasis on principles of community dialogue and mutual respect, including free prior informed consent to access natural resources.

Responsible Stewardship

See the specific management systems we have in place to manage our operations and to

Read More

Building Strong Relationships

Learn how we establish and maintain close responsive links with our stakeholders on our

Read More

Adding and Sharing Value

Discover how we are creating and delivering value in collaboration with our stakeholders

Read More

Strategic Communications

See how we are maintaining the disclosures towards international benchmarks.

Read More
Sustainable Development Journey

Our sustainable development journey continues to break new grounds and unlock immense value for our stakeholders. We have achieved our targets and formulated ambitious new ones; we have adopted global best practices and taken innovative leaps; we have aligned our standards with industry benchmarks and charted some of our own. We have done all this and continue to do it with a singular agenda: ensuring long-term growth for all stakeholders.

FY 2017-18

US $ 5.3 billion to the Indian exchequer through direct and indirect taxes, levies, royalties and dividend

US $ 630.70 million for employee wages and benefits, with 71,000 people employed – directly and through contract

US $ 38.7 million for community investment, impacting 3.36 million people by providing support for schools, hospitals, health centres and farmers

About 270,000 villagers benefited through safe water & sanitation initiatives

FY 2016-17

VSAP and its Implementation VSAP material priorities identified for the FY 2016-17 are occupational health and safety, resource use and management, stakeholder engagement, and supplier and contract managemen

Social Impact Assessment Studies need-based assessment completed for nearly all our businesses.The major social impact assessment studies were done at Cairn Oil and Gas Business

Advancing Accountabilityemployee health, safety and well-being identified as the material issue is a key priority for the company. Hence, it is addressed by incorporating safety performance standards into executive remuneration

2015-16

Environment & Social Review of VSAP Continued external review

VSAP into its Fourth Year of Implementation revised as per the material priorities with more emphasis and focus on safety by inclusion of safety performance standards, supported by external auditors

Advancing Accountability by incorporating safety performance standards into executive remuneration

Social Impact Assessment Studies - HZL & Cairn India aligning all community projects with updated studies

FY 2014-15

Introducing 'Strategic Communications' as a new pillar of our Sustainable Development Model

Rolling out of Vedanta Sustainable Development Framework continues Introduction of safety performance standards, formal safety risk assessment, industrial hygiene baseline assessment and safety leadership coaching

VSAP into its Third Year of Implementation revised as per the material priorities, supported by external auditors

Environment & Social Review of VSAP Started external review

Revisiting our Community Need Assessment Studies aligning all community projects with updated studies

FY 2013-14

Businesses started embedding Vedanta Sustainable Development Framework training and implementation of policies and standards

External Review Concluded (URS - Scott Wilson) all recommendations got successfully closed

Sustainability linked with Remuneration Sustainable development KPIs linked to executive remuneration

Vedanta Sustainability Assurance Programme (VSAP) into its Second Year of Implementation supported by external auditors