Integrated Thinking at Vedanta
Vedanta at a glance
Board of Directors
Stakeholder Engagement
Operationalising ESG within Vedanta
Market Review
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STAKEHOLDER ENGAGEMENT
EFFECTIVE ENGAGEMENT AND
BUILDING STAKEHOLDER TRUST
At Vedanta, we ensure constructive stakeholder engagement across multiple industries and geographies. This builds successful, long-lasting relationships by identifying and addressing material problems that help us to anticipate emerging risks, opportunities and challenges that reinforce our competitiveness for long-term value creation.
The table below sets out how we engaged with our stakeholders during the year to address their concerns and meet their expectations.
| Stakeholder | Key Expectations | How We Engage | Initiatives in FY 2023 | Value Created |
|---|---|---|---|---|
|
Local Community |
|
The Group has established a comprehensive social framework as a key to engaging with local communities. The Social Performance Steering Committee (SPSCs) employs a cross-functional approach to community engagement through community group meetings and village council meetings Community needs/social impact assessments are developed to undertake need-based community projects. We are increasing our community outreach via public hearings, grievance mechanisms and cultural events. Vedanta Foundation supports community engagement by supporting them philanthropically |
|
₹454 crore of CSR investment ~44 million community members benefited |
|
Employees |
|
The Group undertakes employee performance management and employee feedback as the primary mode of engaging with employees. We follow a multi-dimensional approach to career and leadership development through V-Lead and ACT-UP programmes Chairman’s workshops, Chairman’s/ CEO’s townhall meetings and plant-level meetings are organised periodically to improve performance on material issues pertinent to Vedanta Limited Event management committee and welfare committee to assist in the training, organisation and supervision of employee engagement initiatives |
|
2.11 million man-hours of safety training >30% of all new hires are women |
|
Shareholders, Investors, & Lenders |
|
The Group has an active investor relations team that consistently provides disclosures on economic, social and environmental performance. The team provides regular updates to stakeholders through investor meetings, site visits, conferences and quarterly result calls The Company organises annual general meetings to engage with our key financial audience i.e., shareholders, investors & lenders. For stakeholders to raise their concerns, a dedicated contact channel has been assigned – ir@vedanta.co.in and esg@vedanta.co.in |
|
₹101.5 per share dividend |
|
Civil Society |
|
The Group has implemented multi-stakeholder initiatives and partnerships with international organisations to align with the expectations of the global sustainability agenda. Any key concerns or trends from engagements with international, national and local NGOs are reported to the relevant community of practice. Conferences and workshops are conducted as needed |
|
3,80,320 Total beneficiaries through sports 5,400 No. of people trained through our skill training programmes |
|
Industry (Suppliers, Customers, Peers, Media) |
|
The Group ensures consistent implementation of the code of business conduct via in-person visits to customers, suppliers and vendors. To ascertain contractual integrity, a vendor scorecard is maintained. We strive to improve the overall customer experience through continual customer satisfaction surveys and meetings |
|
₹35,116 crore Local Procurement |
|
Governments |
|
Engagement with regulatory bodies includes participation in government consultation programmes. The Group engages with - national, state, and regional - government bodies at the business and operational levels both directly and through industrial associations |
|
₹73,486 crore paid to the exchequer |
