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MUMBAI: Vedanta Ltd., which is planning a restructuring exercise to unlock value and simplify its corporate structure, has pledged $5 billion over the next 10 years to accelerate its transition to net zero operations.

It plans to be the ESG (environmental, social and governance) leader in the natural resources sector and has committed to reduce its carbon emissions to zero by 2050 or sooner.

As part of the process, the company has repurposed its mission statement to Vedanta – ‘Transforming for Good’, to make a meaningful difference to the society at large.

Priya Agarwal, director, Vedanta, said, “As a diversified natural resources company, Vedanta is committed to delivering sustainable and responsible growth, relying on the principles of environmental stewardship, social equity and impact, and good corporate governance. With this new identity, we want to further our commitment towards ESG in everything we do."

Vedanta’s new positioning is backed by three pillars – transforming communities, transforming the planet, and transforming the workplace. The new mission statement is significant as it focuses on Vedanta adopting best practices and policies across the ESG space for the greater good, the company said.

 

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