Vedanta, a global natural resources company, has announced the evolution of its mission statement to strengthen the group's commitment to ESG.
Vedanta is planning to be the ESG leader in the natural resources sector and has committed to reducing carbon emissions to zero by 2050 or sooner.
The company has pledged $5 billion over the next 10 years to accelerate the transition to net-zero operations. As a part of the process, the company has repurposed its mission statement to Vedanta – 'Transforming for Good', to make a meaningful difference to society at large.
Priya Agarwal, Director, Vedanta Ltd. said, ''As a diversified natural resources company, Vedanta is committed to delivering sustainable and responsible growth, relying on the principles of environmental stewardship, social equity, and impact, and good corporate governance. With this new identity, we want to further our commitment towards ESG in everything we do.''
Vedanta's new positioning is backed by three pillars – transforming communities (responsible business decisions based around community welfare), transforming the planet, and transforming the workplace.
The new mission statement is significant as it focuses on Vedanta adopting best practices and policies across the ESG space for the greater good.
Vedanta also aims in empowering over 2.5 million families with enhanced skillsets and uplifting over 100 million women and children through education, nutrition, healthcare, and welfare.
The company aims to reduce carbon emission intensity by 25 per cent by 2030, and net-carbon neutrality by 2050 and achieving net water positivity by 2030 transforming the workplace.
(With inputs from PTI)