The Business Bytes
TBB BUREAU
BHUBANESWAR, NOV 20
Metals flagship of Aditya Birla Group, Hindalco Industries has been ranked the Aluminium Industry Leader for its sustainability performance in the 2020 edition of the S&P Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment rankings.
Out of 61 Industries represented in the DJSI, Hindalco is the only company from India to be recognised as an Industry Leader this year, the company said in a statement.
Hindalco’s scores are in the 100th percentile in most aspects of all three dimensions of the Environmental, Social and Governance (ESG) in the DJSI Corporate Sustainability Assessment.
The ESG assessment dimensions include aspects such as climate strategy, biodiversity, environment and social reporting, water-related risks, policy influence, customer relationship management, human capital development, among others.
Hindalco made its debut on the DJSI last year, entering the emerging markets index and had scored 60 points in 2019, placing it at three in the aluminium industry globally.
Hindalco Industries Managing Director Satish Pai said, “Achieving the position of Industry Leader is a recognition of the company’s pioneering initiatives and consistent efforts to transform the global aluminium manufacturing sector to a more sustainable one.”
The company has made a significant improvement in overall sustainability scores from 60 to 75 in the past year, he added.
“A DJSI distinction is a reflection of being a sustainability leader in the Aluminium industry. With a record number of companies participating in the 2020 Corporate Sustainability Assessment and more stringent rules for inclusion this year, this sets Hindalco apart and rewards its continued commitment to people and planet,” said Manjit Jus, Global Head, ESG Research and Data, S&P Global.
The aluminium industry has an important and significant role to play in the circular economy. It can contribute to lower waste and energy savings in the products it produces. Aluminium products can contribute to energy savings in the production process and use phase, as aluminium is lightweight and its recycling consumes significantly less energy than most other materials.
Hindalco has tied-up with cement manufacturers to use red mud as a replacement for mined resources.
Hindalco is also working closely with Xynteo on sustainable mining, which is focused on good environmental practices in water and biodiversity, community livelihood and health, among others.
