The Business Bytes
TBB BUREAU
NEW DELHI, DEC 11, 2023
Vedanta Aluminium is committed to enabling wider global access to responsibly produced, high-quality aluminium in its pursuit of ensuring a sustainable future for the planet. During the company’s maiden participation at COP28 in Dubai, CEO John Slaven underscored the increasing role of aluminium in enabling sustainable applications and its indelible contribution to aiding entire economies in decarbonizing their value chains. He was participating in the ‘Industrial Transition Accelerator’ Roundtable, which brought together business leaders, policymakers and experts from the heavy industries, transport and energy sectors at COP28, the most significant and cohesive effort to combat climate change today.
Aluminium, the second-most consumed metal today, has only grown in significance since it first began to be mass produced. Anchoring the growth of sectors such as aerospace, automotive, transportation, building and construction, and electricals, the metal is now lending itself to sustainable applications in several emerging sectors such as renewable energy, electric mobility, hi-tech manufacturing and green infrastructure. Nearly all clean technologies require an increased usage of aluminium, indicating that consumption of the metal is slated to double by 2030. Its versatile properties, including light weight, excellent thermal and electrical conductivity, high strength to weight ratio, and infinite recyclability have led to industry players dubbing it ‘the metal of the future’.
Against the backdrop of a global discourse on climate action during the ongoing COP28, Vedanta Aluminium has also launched its latest Sustainable Development Report, a comprehensive resource that documents the company’s efforts to tackle climate change, decarbonize its operations and ensure inclusive socio-economic growth among its local communities. These include its mega aluminium smelter in Jharsuguda, among the world’s largest, a world-class Alumina Refinery in Lanjigarh, Odisha and BALCO, India’s iconic aluminium producer based in Korba, Chhattisgarh.
Commenting on the company’s efforts to build a climate-resilient future, Vedanta Aluminium CEO John Slaven said, “At Vedanta Aluminium, we are accelerating our efforts to achieve Net Zero by 2050 by setting clear timelines to mitigate emissions, deploying cutting-edge carbon sequestration technologies, greater usage of renewables, and supporting climate resilience initiatives among local communities. This multipronged approach reflects our unwavering commitment to making a meaningful impact on the environment and paving the way for a more sustainable future.”
Slaven also highlighted the company’s progress in ensuring sustainable operations, especially its remarkable achievement in reducing its greenhouse gas (GHG) intensity by an impressive 28% in FY23 from the FY12 baseline, while also enhancing production by more than 3 times during the same period.
Within its Sustainable Development Report, the company delves into several key sustainability achievements from FY23, with a special focus on the critical aspects material to its diverse stakeholders. As the company continues to expand its product portfolio, it is committed to the Triple Bottom Line approach, which encompasses People, Prosperity and the Planet.
The key highlights outlined in the report include: Reducing GHG emissions intensity by 8% in FY23 over the FY21 baseline while increasing production by 16%, in its journey to achieve Net Zero by 2050 or sooner; Utilising 1.37 billion units of renewable energy, equivalent to power generation of approximately 150 MW from a thermal power plant; Achieving a noteworthy 11% reduction in water withdrawal from freshwater sources; Significant freshwater usage savings of 1.5 million cubic metres; Doubling waste utilization to 200% in FY23, boosting circular economy avenues; Collaborating on over 40 rural community water bodies restoration projects; Inducting India’s largest fleet of electric forklifts, reducing carbon footprint arising from logistics; Positively impacting over 6.3 lakh women and children through focused social interventions; Increasing community investments by over 45% in FY23, to drive extensive initiatives in education, healthcare, livelihood, community infra, art & culture, and grassroots sports; Diversifying employee hiring to include transgender and differently-abled professionals in core operations, making Vedanta Aluminium a truly inclusive workplace.
Vedanta Aluminium has entered into long-term power distribution agreements (PDA) to source 1335 MW of renewable energy for use in its operations. The company was also the first in India to launch its low-carbon ‘green’ aluminium range, Restora, for customers looking to decarbonise their value-chains, and has also led the integration of emerging technologies such as Industrial Internet Of Things (IIoT)-based devices to mitigate emissions. These efforts to drive sustainable change through product innovation, smart manufacturing, and partnerships with community stakeholders have resulted in top industry acknowledgments. These include certification from the Aluminium Stewardship Initiative for sustainable operations and verification from Environmental Product Declaration (EPD) International on the sustainability of its products.
