The Business Bytes
New Delhi, November 27, 2024 (TBB Bureau): Vedanta Aluminium, India’s largest aluminium producer and a pioneer in sustainable development, has further strengthened its environmental leadership by launching innovative biodiversity and carbon reduction initiatives in Jharsuguda, Odisha. This ambitious program is being rolled out in partnership with PwC India, aiming to bolster ecological balance, restore natural habitats, and foster community-centric carbon reduction.
The strategic partnership between Vedanta Aluminium and PwC India is cemented through a recently signed Memorandum of Understanding (MoU). This collaboration will deploy global best practices and advanced tools to address critical environmental challenges while fostering measurable outcomes for biodiversity conservation and emissions reduction.
Under the partnership with PwC India, Vedanta Aluminium is implementing a series of innovative initiatives aimed at restoring ecological balance and reducing carbon emissions. Advanced carbon sequestration projects will be introduced to generate carbon credits, supporting efforts to offset emissions. To restore natural ecosystems, GIS-based mapping tools and seasonal plans will be employed to systematically replace invasive species with native flora. Additionally, the company will distribute 2,000 energy-efficient cooking stoves to local communities, reducing reliance on traditional biofuels, improving air quality, and lowering carbon footprints. Dense forests will also be established using the Miyawaki afforestation technique, fostering rapid biodiversity enrichment and enhancing carbon capture. These initiatives are designed to ensure measurable progress toward biodiversity conservation, community well-being, and climate action.
These initiatives are guided by detailed habitat development plans crafted in collaboration with local NGOs and Biodiversity Management Committees (BMCs). They align with Vedanta Aluminium’s commitment to achieving “No Net Loss” of biodiversity by restoring degraded lands and promoting sustainable practices.
Sunil Gupta, Chief Operating Officer (COO) of Vedanta Aluminium, emphasized the company’s dedication to sustainability, saying: “This collaboration with PwC reinforces Vedanta Aluminium’s commitment to sustainable growth and environmental stewardship. By addressing critical ecological challenges and fostering community well-being, we aim to set new benchmarks for responsible business practices in the industrial sector. Together, we are ensuring the conservation of our natural resources for future generations while fostering a healthier, greener planet.”
Sandeep Kumar Mohanty, Partner – ESG Strategy & Transformation at PwC India, underscored the importance of the partnership, stating: “Our collaboration with Vedanta is focused on exploring innovative strategies for biodiversity conservation and carbon reduction. These efforts support a sustainable future for both local communities and the environment.”
Vedanta Aluminium and PwC India will employ globally recognized biodiversity tools like the BRICS (Biodiversity Risk and Impact Assessment Tool) and GIS platforms for spatial mapping and restoration planning. These efforts align with the United Nations Sustainable Development Goals (SDGs), particularly: Climate Action (SDG 13), Life on Land (SDG 15), and Responsible Consumption and Production (SDG 12).
As India’s largest producer of aluminium, manufacturing over 2.37 million tonnes in FY24, Vedanta Aluminium has consistently set industry benchmarks in sustainability. The company has been recognized globally, ranking first in the S&P Global Corporate Sustainability Assessment 2023 for the aluminium sector.
By embracing innovative, eco-friendly practices and fostering partnerships that prioritize ecological and social imperatives, Vedanta Aluminium remains steadfast in its mission to create a greener, more sustainable future.
