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- Vedanta Limited subsidiary Hindustan Zinc is also ranked as one of India's top 10 sustainable firms
- CII's 'Sustainable Plus Label' is the world's first and only corporate sustainable label
CII is a non-governmental, non-profit, industry-led and industry-managed organization, which plays a central role in India's development. Founded in 1895, the organization has around 8,000 members, from the private and public sectors, and an associated membership of over 200,000 enterprises from around 240 national and regional industry bodies.
The Centre of Excellence for Sustainable Development (CESD), founded by CII-ITC, undertakes Environmental, Social and Governance (ESG) analysis of the top 100 companies in India across 20 sectors. Once the analysis is completed, each company is assigned a 'Sustainable Plus Label' based on a comprehensive ESG analysis of the companies which allows each to measure progress and develop sustainable processes and governance, as well as identify risks that mighty challenge the sustainability of the business. The overall performance of the company improves in relation to the quality of its disclosures.
Vedanta performed particularly strongly in the evaluation of its ESG governance. As part of the survey observations, the company was found to have "robust ethical policies and risk management framework and has in place mechanisms to evaluate the effectiveness of these policies and procedures."
"Sustainable development is at the core of Vedanta's strategic priorities and business operations. As an organization, our commitment to our 'Social License to Operate' goes beyond regulatory compliance. We are dedicated to sustainable development, inclusive growth, and greater value creation for all our internal and external stakeholders. The company's year-on-year score improvement in the CII "Sustainable Plus" survey is a testament to our continued efforts to delivering best-in-class sustainability performance," said Mr. Tom Albanese, CEO of Vedanta.
"Sustainable Plus is India's first and only corporate sustainable label. The label is based on the principles of transparency, responsibility, and accountability. Vedanta is at the
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forefront of environmental, social and, governance (ESG) practices in India," says Seema Arora, Executive Director of CII-ITC Centre of Excellence for Sustainable Development.
The three levels of "Sustainable Plus" correspond to ESG rating categories ranging from 'C' to 'AAA'. Companies rated 'C' to 'CCC' are labelled 'Bronze', 'B' to 'BBB' are labelled 'Gold', and 'A' to 'AAA' are labelled 'Platinum'.
Communications Roma Balwani President - Group Communications, Sustainability and CSR Tel: +91 22 6646 1000 gc@vedanta.co.in | Finsbury Daniela Fleischmann Tel: +44 20 7251 3801 Vedanta@finsbury.com |
Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. For more information, please visit www.vedantaresources.com.
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia, Ireland, Liberia and Sri Lanka.
Vedanta Limited, formerly Sesa Sterlite Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange. For more information, please visit www.vedantalimited.com
Vedanta Resources plc issued this content on 16 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 March 2016 15:24:15 UTC
Original Document: http://www.vedantaresources.com/media/199353/vedanta_resources_plc_cii_sustainability_survey_ranks_vedanta_limited_among_the_top_10_most_sustainable_companies_in_india_-_17_march_2016.pdf
