As part of the Vedanta Group, we have always been process oriented, underpinning our rigour with a spirit of entrepreneurship. We see sustainable development as a core requirement to strategically improve the value of our business - both by managing risk and improving our operating standards. Our approach to sustainability mirrors our prevailing business ethos of achieving excellence through continuous improvement in our processes and outcomes, while also bench marking ourselves against our global peers.
Responsible Stewardship means ensuring we have effective and appropriate business processes, including robust compliance and risk management, protecting the health and safety of our employees and responsibly managing our environmental and social impacts.
Building Strong Relationships
Building Strong Relationships captures our engagement with the people and organisations that are interested in our business. Doing this effectively can lead to the identification of new areas where we can find and unlock additional value as well as equipping us to foresee and appropriately manage challenges.
Adding and Sharing Value
Adding and Sharing Value encapsulates the direct and indirect positive economic impact we make, by investing in people through employment, building infrastructure, developing technology and the payment of taxes, royalties and other payments to local, state and national governments. Additionally, it captures the value we offer by turning the knowledge and ideas sourced through engagement with our stakeholders into specific projects, including collaborating with governments and NGOs to bring value to the communities that host our operations.
The Strategic Communication pillar interlocks with the other three pillars of our model, and is the guiding principle which enables the organisation to engage with our stakeholders in a transparent dialogue. This pillar is the vital element of sustainable development, in implementing and strengthening our 'license to operate' efforts. This pillar further reflects our commitment to becoming a more transparent and responsible corporate citizen.
Our four pillars guide our stakeholder engagement and help us to build trusted relationships. As a consequence of these engagements and to respond to stakeholders’ areas of interest we developed our Sustainable Development Framework. The Framework comprises policies, technical standards, management standards and guidance notes across the pillars to establish clear standards, set targets for improving performance and maximise value to our stakeholders.