Stakeholder engagement
Our stakeholders across multiple industries, geographies and communities, define our identity and help shape our journey forward. Their key insights help us navigate challenges, seek opportunities, find purpose in what we do and lay the foundation for a more inclusive and sustainable future.
We engage with a wide range of stakeholders to foster and maintain enduring relationships with them, which also helps in shaping our understanding of our evolving operating environment.
Our relationships with stakeholders are based on trust and mutual respect. The success of our stakeholder engagement initiatives lies in our continued emphasis on providing information that is accurate and relevant to each group. We do this in a transparent and structured manner and in addressing their concerns through effective processes and mechanisms.
Our engagement principles
The following principles guide our stakeholder interactions:
- We want to share our knowledge and expertise with our stakeholders
- We act and operate with transparency and integrity
- We want to create value for all our stakeholders and foster long-term partnerships of mutual value
- We are always available for dialogue and respond to input and feedback in a timely and agile manner
- We believe in collaboration and base our engagement on genuine dialogue – we engage, listen and act
Why they are important
Key expectations
Types of engagement
FY2022 initiatives
Local community
Why they are important
Our partners in progress, a harmonious relationship with the communities where we operate is key to our social licence to operate
Key expectations
- Increasing community outreach through our programmes
- Improving grievance mechanisms for the community
- Developing and undertaking need-based community projects
Types of engagement
- Community group meetings
- Village council meetings
- Community needs/social impact assessment
- Public hearings
- Grievance mechanisms
- Cultural events
- Engaging with communities via various community initiatives of Vedanta Foundation
FY2022 initiatives
- Completion of Social Performance pilot project at Lanjigarh
- 3,262 Nand Ghars established to deliver early childhood education and nutrition programmes
- 200+ programmes in place to drive social impact
Employees
Why they are important
Our employees are at the centre of all our operations; their collaborative skill and expertise are essential for our growth
Key expectations
- Improving training on HSE and other pertinent material issues for the organisation
- Providing increased opportunities for career growth through internal talent recognition
- Increasing gender diversity of the workforce
Types of engagement
- Chairman’s workshops
- Chairman’s/CEO’s town hall meetings
- Feedback sessions
- Performance management systems
- Various plant-level meetings
- V-Connect mentor programme
- Event Management Committee and Welfare Committee
- Women’s club
FY2022 initiatives
- V-lead
- ACT-UP
- Chairman’s awards, fortnightly Chairman’s session
- Digital Patshaala: A learn together initiative on Emerging Technology
Shareholders, investors and lenders
Why they are important
As providers of capital, they are key to our growth and expansion plans
Key expectations
Consistent disclosure on economic, social, and environmental performance
Types of engagement
- Regular updates
- Investor meetings
- Site visits
- AGM (Annual General Meeting) and conference
- Quarterly result calls
- Dedicated contact channel – Vedantaltd.ir@vedanta.co.in and sustainability@vedanta.co.in
FY2022 initiatives
- Actively engaged with risk rating agencies to improve disclosures
- Investor summits
- Increased participation in international webinars to improve Vedanta’s presence on international forums
Civil societies
Why they are important
Collaboration is essential to advocate for and promote sustainable practices
Key expectations
- Expectation of being aligned with the global sustainability agenda
- Commitment to ensuring human rights for all
Types of engagement
- Partnerships with, and membership of international organisations
- Working relationships with organisations on specific projects
- Engagement with international, national and local NGOs
- Conferences and workshops
- Dedicated contact channel – sustainability@vedanta.co.in
FY2022 initiatives
- Engaged with RMI
- Initiated engagement with intended membership to VPSHR (Voluntary Principles on Security and Human Rights)
- Partnered with 91 NGOs for various social developmental programmes
- Engaged with global business partners for various sustainability improvement programmes
Industry (suppliers, customers, peers, media)
Why they are important
A positive relationship enables us to raise growth capital in a timely and cost-effective manner
Key expectations
- Consistent implementation of the Code of Business Conduct and Ethics
- Ensuring contractual integrity
Types of engagement
- Customer satisfaction surveys
- Vendor scorecards
- In-person visits for customers, suppliers’ and vendors’ meetings (put on hold during COVID-19)
FY2022 initiatives
- Participated in Dubai EXPo
- Executive attended 2022 Mining Indaba summit workshop for business partners on ESG
Governments
Why they are important
Key for ensuring compliance, interpretation of regulations and uninterrupted operations
Key expectations
- Compliance with laws
- Contributing towards the economic development of the nation
Types of engagement
- Participation in government consultation programmes
- Engagement with national, state, and regional government bodies at business and operational level