TRANSFORMING TRANSFORMING TRANSFORMING SUSTAINABILITY REPORT FY 2023 COMMUNITIES THE PLANET THE WORKPLACE Taking stock on the first year of our transformation journey Our vision of "Transforming for Good," has reporting, and spotlighting of individual longer solely focus on short-term targets. In all these ways we are trying to create a been crucial. It has helped us meet the positive developments. Under this shared Rather their horizons will extend till 2030, safe and secure workplace for our In Conversation with the Group CEO & Chief Safety Officer expectations of our community members vision of incremental transformation, we work making way for broader targets and employees that can become an industry and stakeholders while also establishing a on accepted pathways and can achieve a huge programmes with greater, accretive impact. benchmark. position of leadership in ESG difference through ongoing initiatives and This approach is a part of our "Transforming FY 2022-23 proved to be a precursor for How would you describe the transformation Our exceptional mining expertise is implementation. This year’s theme of linkages. Our disclosures now highlight the for Good" vision. the future, as we saw India’s economy achieved as a part of Vedanta's ESG journey? bolstered by cutting-edge technology "Transforming Together" captures our collective progress and direction of Vedanta as breaking away from the rest of the world to At Vedanta, we have always been committed and a talented workforce, combined with collective vigour and passion to generate a whole. We are committed to enhancing the skills of define its own unique growth numbers. towards sustainable and responsible mining a robust value-added portfolio, and we value for everyone. emerging leaders, empowering women, and Driven by healthy macroeconomic practices. We acknowledge the significant are well-positioned to seize the emerging This clear definition of our trajectory has also fostering strong relationships with our Our ESG journey has helped fundamentals and domestic consumption, impact that our operations can have on local growth opportunities. Our performance on important external fostered alignment and motivation among our business partners through various flagship us uphold the utmost levels FY2023 saw India reaching an impressive communities, ecosystems, and the rating systems including the Dow Jones leaders. We are no longer merely measuring programmes. Ensuring the health and safety 6.8% GDP growth. Developed countries, environment. To address this, we have put in To address business risks that are most Sustainability Indexes, Sustainalytics, MSCI, ourselves against self-imposed standards; of our people and other stakeholders will of excellence and integrity, including China, saw subdued growth in place a comprehensive sustainability framework likely to arise from environmental crises, and CDP has significantly improved because rather, we are driven by a larger purpose, and continue to be of utmost importance. aiming to attain sustainable the face of inflation and recessionary that acts as an anchor and a check, balancing Vedanta has taken several strategic goals of our ESG activities. Vedanta now ranks this is a profound and transformative shift. and responsible growth in pressures. the larger environmental and humanitarian that act to mitigate climate change and sixth on the Dow Jones Sustainability Index, We make regular, planned investments to collaboration with all concerns against business needs and nature loss. Our ambitious targets for among top 10 diversified metals and mining The Board ESG Committee has been create zero-harm environments, where our stakeholders. High commodity prices, however, affected exigencies. All our decision-making processes decarbonization, practice of circularity peers. Additionally, Vedanta and several of supportive of our goals and monitors our people can work with security and peace of bottom line growth for Indian businesses thus answer to the dual needs of harmonizing and water positivity are in line with the our Group companies have won many prizes performance. Along with the ESG ManCom, mind. This year, we have had 13 fatalities. This in the first half of the year. Against this economic progress with environmental, social, UN's Sustainable Development Goals, on reputable platforms in the areas of this committee provided direction and is a very unfortunate situation, and we deeply backdrop, Vedanta has posted a and governance (ESG) considerations. and we continue to align our performance finance, operational efficiency, CSR, and oversight over the large volume of work that is regret the precious loss of lives. These commendable financial performance. Our with sectoral and global best practices. human resources. These accolades reflect being carried out by the 14 Communities of unfortunate occurrences have hardened our consistent operational efficiencies and The past year was a challenging one due to the on the responsibility and competence with Practice (CoP), who are responsible for resolve to build a safe workplace. strong cost control has made us a much unpredictable macroeconomic environment To help realize our "net zero" targets, we which we carry out our product delivering on our ESG agenda. There are more more resilient company, solidifying caused by the ongoing Russia-Ukraine conflict. have signed renewable energy power manufacturing journey, our impressive than 1,000 projects – big and small – currently We have adopted the Incident Cause Analysis the competitive advantage that we However, we adopted a holistic approach and delivery agreements (PDAs) that will bring portfolio and our capable leadership team. underway to deliver on our nine ESG aims. Method (ICAM) investigation process to command. could achieve excellent operating performance 788 MW of round-the-clock equivalent scrutinize all fatalities and high-potential despite the external shocks and the need for renewable power to our businesses. How has the “Transforming for Good” Going forward, what is the vision for incidents in detail, enabling us to identify the The company's ESG goals cover an realignment of our supply chains. Our guiding Three additional facilities operated by us vision helped to integrate Vedanta’s Vedanta’s ESG journey? root cause of each incident and create a extremely broad canvas, reflecting our philosophy of 'Transforming for Good,' helped have turned water positive, highlighting internal processes and governance and Our primary objective is to strengthen our corrective and preventive action (CAPA) plan philosophy of “Transforming for Good” by our efforts by fostering a more integrated the progress that we are making. business administration mechanisms? position as a leader and unlock value through to avoid future occurrences. Moreover, we taking the responsibility for environmental business approach both in terms of our We place a strong emphasis on upholding the execution of growth projects, while also have launched a cross-business audit to stewardship via decarbonization, the operational and external outcomes, thereby Vedanta believes in responsible growth, good governance practices, supported by prioritizing on our ESG goals, innovation, ensure that the best safety practices are circular economy, water positivity and leading to value-accretive growth. and we work with our adjacent rigorous policies and frameworks that drive digitalization and safety. In FY 2022, we being implemented across all our operations. bringing long-lasting positive social communities to improve their lives accountability and transparency. Through changed our business planning methodology Our business unit CEOs are tirelessly working change at the bottom of the pyramid. How has Vedanta’s sustainability agenda through our efforts. Our flagship initiative, our vision of “Transforming for Good” we aim and each of our businesses developed towards the complete resolution of 100% of supported the overall performance of the Nand Ghar, has been actively working to for integrated growth and every business comprehensive business plans addressing the CAPA learnings. The objective of this In this conversation with Vedanta’s company? improve the Aanganwadi ecosystem in unit is linked to this shared vision. each of Vedanta’s nine individual aims. This process is to illustrate and establish and Group CEO & Chief Safety Officer, Sunil India and helps close the urban-rural “Transforming for Good” has helped us to approach continued into FY 2023 and will also create a shared understanding of safety risks Duggal, we are acquainted with the As India's largest diversified natural resources divide. We currently have Nand Ghars in set larger, long-term targets, replacing the be followed in FY 2024. However, from FY 2024 within the organization. company’s Sustainability and ESG vision company and one of the global giants in metals, 14 states, and these have helped 3.2 lakh earlier practice of annual plans and ESG onwards these ESG business plans will no mining, and energy, Vedanta holds a unique Sunil Duggal and the underlying rationale and impact advantage in India's pursuit of self-reliance. women and children by providing them Group CEO & Chief Safety Officer targeted. with healthcare, food and education. 11