TRANSFORMING TRANSFORMING TRANSFORMING SUSTAINABILITY REPORT FY 2023 COMMUNITIES THE PLANET THE WORKPLACE Biodiversity Management The frequency of extreme climate events like planned and scientific manner, can cause • Our policy and standards address any tally, we at Vedanta believe that we have an heat waves, wildfires, severe storms and long-term damage to community groups in risks associated with biodiversity in all our important responsibility to discharge. As floods are directly related to accelerating the vicinity and therefore need to managed operations. the nation’s largest natural resources biodiversity loss and ecosystem degradation. with sensitivity and understanding. company, we must set the benchmarks for As such events cause widespread • Identifying affected stakeholders basis accountable operations and strong destruction and loss of lives, the world is still Vedanta recognizes its role and their interest in the use or management of governance. In line with this objective, we grappling to cope and find solutions, while responsibilities within the increasingly biodiversity or those who are affected by have integrated a wide variety of simultaneously trying to prevent further climate-challenged world and the necessity conservation initiatives. Stakeholders may international best practices into our deterioration of existing natural ecosystems. of acting for the good of all. Human society include organizations, communities or operational processes and governance Against this backdrop, the pressures on the needs healthy ecosystems for its survival, individuals. mechanisms. Our assessment frameworks mining industry to visibly minimize its and so do our operations. Across the 52 Managing biodiversity risks are modelled on sector-leading environmental impacts is even greater. sites that we operate, we depend on natural international frameworks that answer to the ecosystems to safeguard water supplies, act Biodiversity risks originate from specific needs of a study and its sampling Mining as an activity causes habitat as a barrier against storm surges in coastal deterioration and disruption of biodiverse universe. destruction and disruption, leading to regions, and create liveable conditions for regions and are today a matter of concern for a large number of stakeholders. As a biodiversity loss and displacement of plant the communities that reside near our natural resources company, we are The Vedanta Biodiversity Management and animal species. Its principal activities operations. Vedanta’s long-term growth and Standard has been developed by consist of ground excavation, ore extraction aspirations hinge on being a responsible cognizant of limiting our impact on incorporating elements from the and processing, causing disintegration of corporate that doesn’t denude natural biodiversity. The growing sensitivity to International Finance Corporation‘s (IFC) existing land tracts and dependent habitats wealth, rather creates a legacy for future environmental issues and their impact on Performance Standard 6 that covers and the potential release of pollutants into generations to benefit from. Our biodiversity conservation and pollution biodiversity conservation and sustainable soil and water bodies. These impacts of commitment to ensuring No-Net-Loss or prevention can occasionally lead to management of biological resources. economic activity, unless mitigated in a Net-Positive-Impact (NNL/NPI) stems from challenges for our organization. These this belief, as we responsibly manage our challenges encompass various aspects, Recently we have completed a assets throughout their productive life and including potential disruptions to our core comprehensive assessment of the impact then ensure their safe revegetation and production materials, complexities within of our operations on biodiversity across 52 natural reclamation. our supply chain, and associated economic of our sites. The methodology followed for and business risks. Given the importance of this assessment aligns with evolving Our biodiversity management programme this category of risks, they are integrated biodiversity and nature-related frameworks considers certain critical parameters to into our overall risk management framework. like Taskforce on Nature-related Financial achieve the objectives of biodiversity In this way we ensure that a comprehensive Disclosures (TNFD) that require companies conservation across the project life cycle – and holistic approach is taken to identifying to assess biodiversity impact using the from initial development to and addressing these potential risks within following criteria: decommissioning, closure, and rehabilitation. our operations. We are also able to monitor • Locate: This involves identification of The programme is spearheaded by the and mitigate these risks and their impacts high-risk biodiversity sites, Biodiversity Community of Practice, which across all our operations, fostering a more ensures proper implementation at every sustainable and responsible approach to • Evaluate: This involves understanding the stage and at every site. resource utilization and conservation. impacts and dependencies of our operations on nature, and The parameters that we consider are: Aligning with international standards and • Prepare: This involves developing frameworks for effective evaluation strategies and action plans to address • Taking a comprehensive approach to As India leads the world’s economic growth nature-related issues managing land use in critical habitats. 75