Vedanta joins forces to accelerate ESG objectives
Vedanta joins forces with TERI – Vedanta, a global natural resources company, and TERI (The Energy and Resources Institute), an independent, multi-dimensional Not for Profit organization in the sustainability space, signed a Memorandum of Understanding on Wednesday to form a long-term partnership and collaborate on creating a sustainable world by leveraging both organizations’ strength in the ESG space. The MoU was signed at the World Sustainable Development Summit (WSDS), where Honorable Prime Minister Narendra Modi made the inaugural address, with a mission to promote “Sustainable Use of Resources for a Resilient Planet through Transformative Actions.”
Vedanta intends to invest roughly Rs. 200 crores in R&D and sustainability projects over the next 5 to 10 years in order to promote and construct a sustainable ecosystem. The partners will collaborate with governments, civil society, and peers to promote a larger ecosystem for climate change, resource efficiency, and circularity, as well as cleaner energy, sustainable supply chains, and people-centered development.
“Businesses can play a key role in attaining the goals of the UN Development Agenda of 2030,” TERI’s DG Dr. Vibha Dhawan remarked at the MoU signing ceremony. Vedanta and TERI have partnered to achieve this goal by tackling pressing issues that are crucial to establishing a sustainable future.”
“At Vedanta, we keep communities, people, and the planet at the core of business decisions,” Sunil Duggal, CEO of Vedanta Group, said. We believe that collaborating with TERI will help to build a wider ecosystem that will support the global agenda for a more sustainable world. This partnership will assist us in meeting our ESG commitments of ‘Transforming for Good.’ TERI has a strong track record of delivering creative and long-term solutions in the fields of waste management, renewable energy, resource efficiency, and community welfare, all of which align with our ESG objectives. With this alliance, we hope to work together to achieve our shared objective.”
Vedanta joins forces with TERI
Vedanta and TERI will explore ways to collaborate on similar areas of interest through this MoU until 2050. By launching Vedanta-TERI ESG awards and constructing a sustainable supply chain, the alliance will create a platform to encourage individuals and enterprises to embrace sustainable practices.
Vedanta aspires to be the natural resources sector’s ESG leader and has pledged to decrease carbon emissions to zero by 2050 or sooner. The corporation has committed $5 billion over the next ten years to help speed up the move to net-zero operations. As part of the process, the company’s mission statement has been renamed Vedanta – ‘Transforming for Good,’ with the goal of making a positive impact on society.
Vedanta has always been on the cutting edge of sustainable practices, and it is now utilizing new technology to protect the environment and communities. Environmental, Social, and Governance (ESG) principles are at the heart of Vedanta’s operations, which are focused on providing sustainable and responsible growth while creating value for all stakeholders, guided by the idea of ‘Zero Harm, Zero Waste, Zero Discharge.’
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