Vedanta Commits $5 Billion Towards Reducing Carbon Emissions

Mining giant Vedanta Resources has committed $5 billion towards reducing the company’s carbon emissions over the next ten years, as part of an overall drive to become a leader in environmental, social and governance (ESG) responsibility in the field of natural resources.  

Director Priya Agarwal said in a statement on Monday that Vedanta is “committed to delivering sustainable and responsible growth, relying on the principles of environmental stewardship, social equity and impact, and good corporate governance.”

The company has laid out plans to reduce its overall carbon emissions to net-zero by 2050 at the latest. It has also unveiled a new mission statement called ‘Transforming for Good’ in line with its ESG goals.  

Vedanta, which is the majority shareholder in Zambia’s Konkola Copper Mines, has highlighted three principal areas of impact for its new mission. These are: transforming communities, transforming the planet, and transforming the workplace. 

In terms of transforming communities, Vedanta aims to make responsible business decisions based around the welfare of the communities it operates in. As part of this, the company is committed to empowering over 2.5 million families with enhanced skills, as well as providing education, nutrition and healthcare to over 100 million women and children. 

As part of the company’s environmental goals, Vedanta is targeting a 25% reduction in carbon emissions by 2030, arriving at net-zero emissions by 2050. The mining giant is also looking at ways to achieve net water positivity by 2030 and investigate possibilities for a greener business model. 

Finally, Vedanta aims to transform its workplace by continuing to prioritise the health and safety of its employees, as well as promoting diversity, gender parity and inclusivity.  

At the heart of this reform agenda, the company says, is a philosophy of ‘zero harm, zero waste, zero discharge’.