TRANSFORMING TRANSFORMING TRANSFORMING SUSTAINABILITY REPORT FY 2023 COMMUNITIES THE PLANET THE WORKPLACE Our collaborative approach helps to Stakeholder Engagement build healthy stakeholder At the heart of the stakeholder engagement relationships and to drive business process lies the determining of issues that growth. Along with our are material to our business from the stakeholders, we co-create environmental, social and governance solutions for the benefit of society perspectives. These issues also reflect the and the environment. The collective needs and concerns of our stakeholders. In capacity and experience of our 2023, a Group-wide materiality assessment stakeholders, from multiple exercise was carried out, along with similar industries, geographies, exercises at three of our BUs. The broad contributes towards transforming process followed is delineated below: our business. • Circulation of interview guides and It is important for us to know how our questionnaires among the identified groups of stakeholders. business decisions, activities and performance are likely to affect or be of • Arrangment of stakeholder meetings by significant interest to our stakeholders. relevant departments within Vedanta. Their key insights help us navigate • Capture of the feedback given and the challenges, seek opportunities, find suggestions made purpose in what we do, and lay the Feedback and Analysis Knowing our foundation for a more inclusive and This is a significant step in the stakeholder sustainable future. engagement process to understand Stakeholders qualitative and quantitative inputs collected Stakeholder mapping on material topics through interviews, focus We distinguish between stakeholders on group discussions, surveys and site visits. the basis of whether our activities directly or indirectly affect them. To map this The process includes: accurately we follow the steps given below: • Tracking and recording (questionnaires and interviews) stakeholder’s views • List the stakeholders involved in the company's value creation process. • Observation and analyzation of every group stakeholder’s response to • Classify stakeholder groups as internal or determine the top material issues for external after proper organization-wide each group of stakeholders. consultation and review. • Development of materiality matrix based on the significant material aspects determined by the responses and interactions among the stakeholders. 24