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Vedanta Aluminium becomes signatory to CII Climate Action Charter

Posted On : 2022-11-26 09:48:49( TIMEZONE : IST )

Vedanta Aluminium becomes signatory to CII Climate Action Charter

Vedanta Aluminium, India's largest producer of aluminium, announces that it is now a signatory to the Confederation of India Industry (CII) Climate Action Charter. This reaffirms the company's commitment to Net Zero carbon operations and to work with customers & suppliers to spur climate action in its value-chain, and is indicative of the role industries could play in successfully implementing climate change mitigation strategies.

The CII Climate Action Charter is a cross-industry initiative to promote structured climate action among Indian businesses. CII has evolved the Charter as a useful tool for businesses to track their climate impact, evolve tailored, long-term strategies to mitigate emissions, and encourage participants across their value chains to transition to sustainable technologies and operations. Vedanta Aluminium aims to leverage this platform to lead sectoral climate actions and glean industry best practices, for long-term competitiveness and realization of sustainability targets.

Speaking about Vedanta Aluminium's climate action journey, Mr Rahul Sharma, CEO - Aluminium Business, Vedanta Ltd. said, "The impacts of climate change on companies and communities are far-reaching. Being India's largest producer of aluminium, Vedanta Aluminium aims to be the leader, paving the way for sustainable development of the aluminium industry. Aluminium, with its limitless potential for sustainable applications, will be indispensable to a low carbon future. And therefore, we believe the onus lies on us to mitigate and offset our carbon footprint, to create green value chains and a greener tomorrow. This journey will also see us work with local communities to make them climate resilient."

At Vedanta Aluminium, excellence in ESG (Environmental, Social and Governance) is the bedrock upon which the company evolves its business aspirations. Highlights of the company's climate-action endeavours include:

- Reduction in GHG (greenhouse gas) emissions intensity by 24% in FY22, from 2012 baseline, across the business

- Reduction in GHG intensity at its largest aluminium smelter in Jharsuguda, Odisha, by 12% in FY22 while increasing production by 20%

- Launched first low carbon 'green' aluminium from India, branded Restora

- India's largest industrial consumer of renewable energy at 3 Billion Units

- Signed Power Delivery Agreement for 380 MW of renewable power supply to aluminium smelters

- Commissioned India's largest fleet of lithium-ion battery powered EV forklifts

- Ranked 4th in Dow Jones Sustainability Index world rankings for the aluminium industry

- Utilising industrial by-products like fly ash, lime grit, etc. in circular avenues such as infrastructure, brick and cement manufacturing, etc.

Shares of Vedanta Limited was last trading in BSE at Rs. 316.55 as compared to the previous close of Rs. 310.95. The total number of shares traded during the day was 1198648 in over 17147 trades.

The stock hit an intraday high of Rs. 317.30 and intraday low of 309.55. The net turnover during the day was Rs. 377778497.00.

Source : Equity Bulls


Vedanta INE205A01025 VEDL Aluminium CII ClimateActionCharter Signatory