MUMBAI: Vedanta Ltd., which is planning a restructuring exercise to unlock value and simplify its business structure, has pledged $ 5 billion over the next 10 years to accelerate its transition to net zero operations.
It intends to become the ESG (environment, social and governance) leader in the natural resources sector and is committed to reducing its carbon emissions to zero by 2050 or earlier.
As part of the process, the company shifted its mission statement back to Vedanta – “Transform for Good”, in order to make a meaningful difference for the company as a whole.
Priya Agarwal, Director of Vedanta, said: “As a diversified natural resources company, Vedanta is committed to ensuring sustainable and responsible growth, based on the principles of environmental stewardship, equity and social impact and good corporate governance. With this new identity, we want to strengthen our commitment to ESG in everything we do. “
Vedanta’s new positioning is based on three pillars: transforming communities, transforming the planet and transforming the workplace. The new mission statement is important because it focuses on Vedanta adopting best practices and policies in the ESG space for the greater good, the company said.
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