TRANSFORMING TRANSFORMING TRANSFORMING SUSTAINABILITY REPORT FY 2023 COMMUNITIES THE PLANET THE WORKPLACE Transforming Together for a Sustainable Future We envision playing an even greater role in significance and need for mined We have a vision of enhancing the the nation's growth and in enabling India to commodities is now better appreciated. well-being of communities across In Conversation with the Chairman become self-reliant in minerals and energy. India by uplifting 100 million women Vedanta is already expanding its capacities Creating a greener product portfolio and and children through education, in the aluminium and zinc sectors. providing a diverse mix of products that healthcare and welfare programs. At As India ascends to a position of power and For a country as large as India to reach its for other emerging economies on their Additionally, our oil and gas operations, are address a variety of needs is major priority Vedanta, we promote equal access leadership in the global arena, self-reliance in decarbonization targets without compromising journey of energy transition, and expanding their reserves with a vision to for us, and we are continuously driving to education, healthcare, nutrition its energy and metals and mining sources will on equitable social development, we will have low-carbon growth and development. contribute 50% to India's total oil and gas innovation in this area. We have already and sanitation to create "Transforming for Good," be crucial for reaching this position. Vedanta to start doing things very differently from the production. To strengthen our assets and launched two carbon-light and opportunities for people to improve with its portfolio of nine key metals and way we have done them so far. This is So, "Transforming for Good" is a very boost production, we have invested USD ultra-carbon light aluminium products and their lives. This includes ensuring encourages group efforts for minerals and vision of contributing to nearly embodied in our vision, "Transforming for broad concept and we hope to achieve a 1.2 billion in growth capital expenditures in similar efforts are underway. Greener that the children we support achieving inclusive, responsible, 50% of the nation’s oil and gas production, Good," which encourages group efforts to lot, across as many areas, as our FY 2023. Looking ahead, we anticipate products are the true litmus test for our complete secondary education and and value-added growth. To has a pivotal role to play. We are boosting achieve inclusive, responsible, and initiatives spread and mature. committing an additional USD 1.7 billion in ‘Transforming Together’ endeavour – as a ending hunger and malnutrition in provide real advantages to all production and investing to diversify our value-added growth. FY 2024 for various growth projects. manufacturer we are trying to make such our communities by 2030. stakeholders, these efforts will be portfolio of assets in support of this. Our In your opinion, what is Vedanta's role in Promoting further investment in the mining alternatives available that serve the needs driven by environmental Transforming for Good initiative seeks to Vedanta sees a bright future for itself as we helping India achieve self-reliance in of these metals and minerals can support of the planet and also of its people. It is I am proud to say that in FY23, we make a difference across the three pillars of partner in India's growth. Our strong position in minerals and metals and in its energy the transition to a just society and to upto our stakeholders to support, adopt have made remarkable strides stewardship and social equity, planet, workforce and communities to create base metals, which we are consolidating transitioning by 2070? combat climate change. These and endorse such products, as only then towards combatting malnutrition and while working within a framework change that is deep rooted. further, will give us an advantage. We are also India's commitment towards achieving opportunities open avenues for fruitful will the transformation be truly sustainable. achieving zero hunger. This year, of strong governance. India’s growth to greater economic might will focusing on ESG leadership as a strategic lever Net Zero emissions by 2070 has been a collaboration with the government and Nand Ghar has expanded to 4,500+ be unique, as it will be a low-carbon based, to excel on all operational parameters. major turning point in the global effort to stakeholders at large, to create a We will also continue with our strategic locations across 14 states, necessitating unprecedented ingenuity and Simultaneously, we are also diversifying and combat climate change. India is setting sustainable future. investments and prudent financial significantly increasing its reach. As innovation. The Vedanta Group’s strengthening our talent pipeline, securing our the bar for a novel approach to economic management to ensure steady a part of its nutritional improvement non-executive Chairman, Anil Agarwal, takes bonds with the community and enhancing the growth that might sidestep the Vedanta has been taking several initiatives shareholder returns and long-term impetus, Nand Ghar has introduced a us through a host of issues covering the public support that we derive. Well-founded carbon-intensive strategies many nations in support of our organization’s Net sustainable growth. multi-millet nutribar to ensure Company’s plans for the future; our vision for ESG leadership, that makes a long-lasting have previously adopted and it can serve Carbon Zero goal. Further, by 2030, we We have been continuously investing in comprehensive nourishment for meeting the dual national priorities of low difference in its areas of impact, is a business as a model for other emerging markets. hope to have 2.5 GW of continuously volume expansion, backward integration every child in alignment with the carbon use and fast-track economic growth; differentiator and we hope to entrench our India’s improved outlook in many ways is operating renewable energy (RE RTC) and value-added goods creation, and in International Year of Millets and the the significance of ESG leadership and how position as a low cost producer in this way. attributable to the government’s quest for capacity. We have also implemented an quickly expanding digitalization. All such Poshan 2.0 initiative to enhance Vedanta continues to assure steady Structural cost reduction and operational self-reliance in manufacturing, minerals innovative, market-leading EV policy that moves will continue as opportunities nutritional security. shareholder returns through prudent efficiencies are well underway, and has helped and resources. While several countries will unify our transition to EVs, and we are emerge and business priorities evolve. Our management and exemplary governance. our aluminium and zinc verticals to deliver a have found themselves precariously on schedule to completely decarbonize focus remains on lean operations and on Furthermore, our targeted social record performance. We will be scaling up positioned, given their dependence on our fleet of light motor vehicles by 2030. growth that is backed by strong impact interventions continue to Vedanta has the vision of "Transforming for these learnings across our businesses, to do others for key resources, India finds itself governance practices. positively transform the lives of our Good". What are some of the key moves more with less and reduce our footprint too. in an advantageous position, particularly Going forward, what are some of the communities. I am delighted to share that you are making towards realizing this in creating a resilient supply chain and core areas of focus for Vedanta in the Vedanta has been running that this year, we have touched the vision? Fortifying our position as a low cost producer indigenous manufacturing. next decade? large-scale community impact lives of 44 million community Over the next few decades India will be taking would also answer our inclusive goal as we Our goal of ‘Transforming Together’ programmes for several decades. members in India and abroad, a path that no nation has taken before. It will provide alternatives to those customer groups Vedanta has a portfolio of nine metals envisages a world that is much more Please take us through what has bringing about positive change. be targeting the highest economic growth that have big ambitions but modest means of and minerals that play a significant role environment-friendly, sustainable and been achieved so far and your rates in the world while lowering its carbon reaching them. in the development of the country and regenerative. Energy transitioning has Anil Agarwal emissions to reach Net Zero by 2070. Those in achieving India's energy and mineral accelerated across the globe and the future areas of focus. Non-Executive Chairman are tough targets to meet by any standards. In all these ways, we can serve as a role model independence. 9