×
Home / Stakeholder Engagement and Materiality / Materiality

ADDRESSING PRIORITY MATTERS FOR A SUSTAINABLE FUTURE

Identifying the areas most material to our business helps us align our business priorities, act ethically and responsibly, and create long-lasting impact. The three pillars that constitute our sustainability strategy – Transforming Communities, Transforming the Planet and Transforming the Workplace and the nine subsidiary aims, are all closely linked with our material issues.

Vedanta conducted a comprehensive stakeholder engagement and materiality exercise in FY 2022-23, helping us identify key material issues. In FY 2023-24, these matters were revisited and analysed internally to check their relevance and potential risks. We effectively address these issues and several more through our ESG KPIs, guided by well-defined targets and driven through pragmatic sustainability frameworks.

Materiality matrix

Highly material issues

M1

Community Engagement & Development

M2

Water Management

M3

Health, Safety & Wellbeing

M4

Business Ethics & Corporate Governance

M5

Climate Change & Decarbonisation

M6

Diversity & Inclusion

M7

Air Emission & Quality

Material issues

M8

Biodiversity & Ecosystems

M9

Waste Management

M10

Labour Practices

M11

Long-term Growth & Profitability

M12

Innovation & R&D

M13

Tailings Management

M14

Responsible Advocacy

M15

Talent Attraction & Retention

M16

Learning & Development

M17

Sustainable and Inclusive Supply Chain

M18

Indigenous People & Cultural Heritage

M19

Land Acquisition, Rehabilitation & Closure

M20

Human Rights

Important issues

M21

Data Privacy & Cyber Security

M22

Pandemic Response & Preparedness

M23

Material Management & Circularity

M24

Product Stewardship

M25

Macro-economic & Geopolitical Context

Community Engagement and Development

Key KPI’s

  • Total community spend
  • Total outreach
  • Nand Ghars in operations

FY 2023-24 Performance

  • ₹ 438 crore
  • 0.3 million individuals skilled, empowering 1.5 million members of their household
  • Nand Ghars - 6,000
  • 13.3 million women & children benefited

Targets/Initiatives for FY 2024-25

  • 1.5 million families empowered
  • Nand Ghars - >9,000

SDG Alignment

Water Management

Key KPI’s

  • Recycling %
  • Freshwater reduction
  • Water positivity ratio

FY 2023-24 Performance

  • Water recycling rate at 30%
  • 2.7% reduction in fresh water consumption since FY 2020-21
  • 5 businesses water positive (Cairn, HZL, IOB, BMM, FACOR Mines)
  • Water positivity ratio - 0.71

Targets/Initiatives for FY 2024-25

  • Water positivity ratio - 0.7

SDG Alignment

Business Ethics and Corporate Governance

Key KPI’s

  • Zero issues related to corporate governance
  • Transparent disclosures

FY 2023-24 Performance

  • Zero issues related to corporate governance
  • Transparent disclosures done through Sustainability, TCFD, IR, and BRSR reports

Targets/Initiatives for FY 2024-25

  • No major incidents in corporate governance
  • Include TNFD in the disclosures list

SDG Alignment

Health, Safety and Well-Being

Key KPI’s

  • Zero fatalities
  • LTIFR
  • TRIFR
  • CAPA compliance target

FY 2023-24 Performance

  • 3 fatalities
  • LTIFR - 0.62
  • TRIFR - 1.3
  • CAPA compliance 92%

Targets/Initiatives for FY 2024-25

  • Zero fatalities
  • TRIFR - 0.76

SDG Alignment

Climate Change and Decarbonisation

Key KPI’s

  • GHG emissions
  • Biomass usage
  • RE power in operations

FY 2023-24 Performance

  • GHG emissions 65.8 million tCO2e
  • RE PDAs in place - 835 MW RE RTC
  • 66,081 tonnes of Biomass usage

Targets/Initiatives for FY 2024-25

  • RE RTC - >1,000 MW RE RTC
  • Biomass usage - ~1,25,000 tonnes

SDG Alignment

Diversity and Inclusion

Key KPI’s

  • Women employees in organisation
  • Women employees in leadership positions

FY 2023-24 Performance

  • 20% women
  • 8% women in leadership positions

Targets/Initiatives for FY 2024-25

Our diversity and inclusion targets have FY 2029-30 as the target year

SDG Alignment

Air Emissions and Quality

Key KPI’s

  • SOx emissions
  • NOx emissions
  • SPM

FY 2023-24 Performance

  • All operations confirming to statutory limits for SOx & NOx
  • HZL has introduced Battery Electric Vehicles in underground mining which will help to reduce SPM and other emissions
  • VAL J is operating the largest fleet of electric forklifts which has helped reduce diesel consumption

Targets/Initiatives for FY 2024-25

  • Maintain all operations below statutory limits of air emissions
  • Increase deployment of EVs at site
  • FGD installation at VAL-L new power units

SDG Alignment

Materiality