The Business Bytes
TBB BUREAU
NEW DELHI, MAR 27, 2024
Bharat Aluminium Company Limited (BALCO), India’s iconic aluminium producer and a unit of Vedanta Aluminium, has achieved the Aluminium Stewardship Initiative (ASI) Performance Standard V3 Certification for the manufacture and supply of a wide range of primary aluminium products at its facility in Korba, Chhattisgarh. This includes a smelter with two potlines for producing molten aluminium (hot metal), three cast houses for shaping the aluminium, a rolled product plant, and a power generation plant. Together, they contribute to an annual production capacity of 575,000 tonnes at BALCO.
BALCO produces aluminium wire rods, ingots, primary foundry alloys, and rolled products, as well as India’s first low-carbon aluminium range, Restora. They find applications in several sectors including automobiles, infrastructure, insulation, power projects, electrical, and packaging. It has emerged as the first Indian company to achieve ASI Performance Standard V3 Certification.
Previously, Vedanta Aluminium has also achieved ASI Performance Standard V2 Certification for its smelter and captive power plant located within the Special Economic Zone (SEZ) in Jharsuguda, Odisha.
The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the only comprehensive voluntary sustainability standard initiative for the global aluminium value chain. The ASI Performance Standard V3 (2022) was launched in May 2022 following a multi-year revision process. It defines 11 principles and 62 criteria under three sustainability pillars – Environment, Social, and Governance – with the aim to address sustainability areas in the aluminium value chain, such as biodiversity, indigenous peoples’ rights, circularity, and greenhouse gas emissions. The independent, third-party audit of Bharat Aluminium Company Limited (BALCO) was carried out by CETIZION Verifica.
“We welcome BALCO’s inclusion in the esteemed ASI membership and its Certification against the ASI Performance Standard V3, which includes the production of our low-carbon ‘green’ aluminium Restora and Restora Ultra brands. As India’s iconic aluminium producer, BALCO has pioneered sustainable processes across every step of the aluminium value chain, establishing itself as a benchmark within the global industry. The certification comes as a reiteration of our continuous commitment to responsible production practices and ignites in our teams a renewed focus on exploring new ways to harness aluminium’s boundless potential towards building a sustainable world,” said John Slaven, CEO, Vedanta Aluminium.
Dr. Fiona Solomon, CEO, Aluminium Stewardship Initiative, said, “We congratulate Bharat Aluminium Company Limited (BALCO) on achieving Performance Standard Certification V3 (2022) for its integrated aluminium production facilities in Chhattisgarh. As a large aluminium producer in India and a part of Vedanta Limited – Aluminium Business, BALCO plays an important role in the global aluminium industry. This certification marks a notable milestone in BALCO’s sustainability journey and demonstrates its commitment to adopting practices that meet a broad range of environmental, social, and governance criteria.”
Vedanta Aluminium, of which BALCO is a part, is adopting a multi-pronged approach to achieve Net Zero by 2050, setting clear timelines to mitigate emissions, deploying cutting-edge carbon reduction technologies, greater usage of renewables, and supporting grassroots climate resilience initiatives among local communities. Striking a balance between ecological needs and business requirements, the company achieved an impressive 28% reduction in its greenhouse gas (GHG) intensity in FY23 from a FY12 baseline, while also enhancing production three-fold during the same period.
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.29 million tonnes in FY23. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
