COMMUNICATING CONSTRUCTIVELY
INVESTORS & LENDERS
Investors and lenders constantly seek information from the organisation on the safety of their capital, how it is deployed, and what are the returns expected. Vedanta continually engages with all providers of capital, through detailed audited financial reports and other focused engagement mechanism such as SRIs and Sustainable Development Day.
INITIATIVE
VEDANTA HOSTS 2ND ANNUAL SUSTAINABLE DEVELOPMENT DAY
Vedanta is committed to deliver sustainable and responsible growth that creates value for all stakeholders. To showcase some of the milestones traversed in this journey, Vedanta Resources hosted the second Sustainable Development Day in London. Detailed updates on the Company's sustainable development activities were shared with analysts, investors and members of key industry bodies. The entire management team, including Chairman Mr. Anil Agarwal, was available for an open discussion.
Ahead of the event, Vedanta had sought views from participants on the sustainable development issues they would like to know more about. In congruence with participant responses, detailed presentations were made on the Company's overall approach to sustainability and on specific areas such as climate change, environmental management, safety, fatality prevention, community relations and human rights.
ANIL AGARWAL, Chairman, Vedanta Resources, emphasised on sustainable development - a priority for the company and its
subsidiaries, and the organisation's mission to achieve the goal of zero harm, zero discharge and zero waste.
PHILLIP TURNER, Group Head of Health, Safety and Environment, walked participants through the initiatives underway to
develop a culture of safety at Vedanta.
TOM ALBANESE, Chief Executive Officer, spoke about the Company's approach to sustainability risks embedded within the
overall business, key focus areas and actions to mitigate risk.
ROMA BALWANI, President, Group Sustainability, CSR & Communications, detailed the efforts undertaken last year to
institutionalise a transparent dialogue mechanism and embed a robust grievance process. She also explained how crucial it was to
engage in an on-going dialogue with the community and other stakeholders to build trust.
EUAN MACDONALD, Non-Executive Director & Chairman of Vedanta's Sustainability Committee, shed light on the
Committee's achievements during three years of his leadership.
KATYA ZOTOVA, Non-Executive Director & member of the Sustainability Committee, explained that safety and stakeholder
engagement would be priorities for the Committee going forward.
DESHNEE NAIDOO, CEO Vedanta Zinc International, shared how the focus has moved from accident prevention to fatality
prevention, and to identifying and managing critical hazards and controls.
GOVERNMENT
The natural resources industry is highly regulated and it is important to engage with the Government on project progress, local challenges, community developments and other processes for formulating fair policies. To ensure community development through Public-Private- Partnership model, Vedanta proactively engages with the local and national governments of the geographies it operates in, on a regular basis.
Vedanta Bal Chetna Anganwadi (VBCA) Programme
Hindustan Zinc signed an MoU with Government of Rajasthan to support 3,055 Anganwadis in 5 Districts.
Acting against cataract
Black Mountain Mining (BMM) supports the World Health Organization (WHO) and South African Government's 2020 strategy which focuses on improving the health status by preventing illness and disease, and eliminating avoidable blindness.
Contributing to harness and conserve water
The Mukhya Mantri Jal Swavlamban Abhiyan (MJSA) has been launched by the state government of Rajasthan to ensure effective implementation of water harvesting projects and water conservation activities. Our businesses in Rajasthan have wholeheartedly supported this campaign and have helped construct a number of community water conservation projects.
STRATEGIC ENGAGEMENTS
Constructive competition is the need of the hour in the Natural Resources industry. We actively take part in various global and local industry fora to communicate our vision for the sector as well as keep abreast with new perspectives. We also regularly interact with academia for strategic inputs and with the media to raise the industry awareness amongst the public.
Industry
WORLD ECONOMIC FORUM 2017 | DAVOS
Mr. Anil Agarwal participated in the World Economic Forum, Davos 2017, where the focus was around the 'Fourth Industrial Revolution', the role of technology and its potential to transform the future of mankind. Every year, the world's best minds and global leaders assemble at Davos for the World Economic Forum annual meeting to discuss the state of the world.
INDIA ECONOMIC SUMMIT |
NEW DELHI
Mr. Anil Agarwal co-chaired the India Economic Summit in New Delhi. The theme of the summit this year was 'Fostering an Inclusive India through Digital Transformation'. More than 600 delegates from over 30 countries including political leaders, top policymakers and CEOs participated in the summit organised by World Economic Forum and Confederation of Indian Industry (CII).
THE MINING INDABA |
AFRICA
Mr. Anil Agrawal and CEO Tom Albanese participated in Investing in African Mining Indaba. It is an annual professional conference dedicated to the capitalisation and development of mining interests in Africa and currently the world's largest mining investment conference and Africa's largest mining event.
INTERNATIONAL MINING & MACHINERY EXHIBITION |
KOLKATA, WEST BENGAL
The 13th International Mining & Machinery Exhibition (IMME) in 2016 featured 290 exhibitors, with participants from countries such as Australia, China, Germany and Russia. At the event, Vedanta showcased its CSR and Sustainability initiatives. This immersive experience was applauded by numerous visitors, ranging from company directors and government officials to students and prospective vendors.
GLOBAL INVESTORS' SUMMIT |
MOMENTUM JHARKHAND
Mr. Anil Agrawal announced various business and social initiatives for the state, at the Momentum Jharkhand Global Investors' Summit. The summit aims to establish Jharkhand as a premier investment destination for both foreign as well as domestic investors.
MAKE IN ODISHA CONCLAVE |
BHUBANESWAR, ODISHA
The 'Make in Odisha' Conclave was held in Bhubaneswar with the key objective of showcasing the manufacturing prowess of the state and the investment opportunities across focus sectors. Vedanta took active part in the conclave with a centrally-located stall highlighting group-wide achievements in sustainability, CSR and business.
PETROTECH |
NEW DELHI
The 12th edition of the flagship event of India's hydrocarbons sector was held in New Delhi. Cairn India's stall featured scale models of the Cairn Enhanced Oil Recovery process and Water ATM initiatives, eliciting tremendous interest among the visitors which included Union Minister for Petroleum and Natural Gas, Mr. Dharmendra Pradhan.
NATIONAL CONCLAVE ON MINES & MINERALS |
RAIPUR
Vedanta Sesa Goa Iron Ore was awarded a 5-Star rating at the National Conclave on Mines and Minerals at Raipur for its Codli and Bicholim mines in Goa. This was part of the Star Rating Scheme implementation of the Sustainable Development Framework (SDF) formulated and finalised by the Ministry of Mines.
Academia
Academic institutes and industry working together is a two-way partnership. The industry gains expertise in areas such as innovation and research, and trained graduates who are better equipped to enter the business world, the academic institutes benefit from the funding, financial benefits, and enhanced education opportunities for the students.
Media
The media is a source of information that helps civil society stay abreast with and to shape the public policy agenda and priorities. Our media strategy is to provide credible information consistently to shape the true brand image of Vedanta among our stakeholders and builds trust through transparency. We regularly communicate with international, national and regional news channels, and the print media leading to a wide coverage of Vedanta's performance and goals.
Vedanta has strategically positioned itself as a low-cost producer equipped to face the commodity downturn and support the nation's economy through the significant contribution to the exchequer.
INITIATIVES
GAZING IN THE MEDIA MIRROR
While media is a gateway to all our stakeholders, one of our vital constituencies is the media itself. During the reporting period, we conducted a dipstick research about Vedanta with 25 key journalists and analysts of the natural resources sector. The findings were very encouraging.
80%
respondents
gave a bright
outlook of
Vedanta
36%
mentioned CSR
as one of the
positives of the
company
36%
mentioned credible
management
as a positive of
the company
48%
indicated regulatory
hurdles as being a
key challenge
for Vedanta
SOCIAL MEDIA - FAST EMERGING AS THE ENGAGEMENT TOOL OF CHOICE
Social Media has gained traction across the group and among our leadership team. Daily engagement helps highlight the Group's achievement, trigger insightful conversations and maintain engagement with stakeholders. All group companies have a presence on social media platforms.
Our senior management as well as flagship programmes are active on Twitter.
KEY STORIES IN THE REPORTING YEAR
Chairman, Mr. Anil Agarwal, honoured by Bihar Chambers of Commerce and Industries for his contribution to the natural resources sector globally
Year-end results, production results and the Annual General Meeting
New parental leave policy received good traction and the company was commended for its progressive approach
Announcement of Hindustan Zinc's Golden Jubilee dividend, which was the largest ever dividend paid by any company in the private sector in the Indian history
'Letter of Award' for Redevelopment of Mormugao Port
Launch of 'Eureka' and the creation of a dedicated fund to augment innovative practices & technology
Appointment of CFO Arun Kumar as Director of Vedanta Board and Bhumika Sood as Company Secretary
Vedanta's Global Internship Programme was one of the key HR initiatives
Leadership participation at global and national events
Awards won by Vedanta and its various businesses
Projects on literacy, skill development and the launch of Nand Ghar
ENGAGING WITH COMMUNITIES
We work in some of the world's most remote regions, and we have a responsibility towards the local communities. We follow a two-pronged approach: We undertake CSR activities to create a positive social impact, and we proactively engage with the community to resolve trust deficit issues, if any. We listen intently to concerns of the community, evaluate and address them. We also share factual data on how the community will benefit economically, socially and environmentally through our projects.
We have close to 100 Nand Ghars operational across 5 states in India. These new-age rural preschools attract local communities and bring in effective dialogue with all stakeholders. The project also leverages digital programmes and engaging visuals, in solar-powered centres that provide uninterrupted electricity. The women and children who come to these centres lead a healthier life, learn new skills and use the communication tools that empower them.
VEDANSH - A NEWS MAGAZINE DEDICATED TO AND CREATED BY PARTNER COMMUNITIES
In Odisha last year, Vedansh was launched to create awareness on developmental initiatives, technical excellence, innovation, sustainable efforts, commitment of our workforce in Lanjigarh and Jharsughuda and our commitment to the state and nation to a wider section of people. 'Vedansh' - our development diary, is telecast every Sunday on News 7. News 7 is among the top two Odia News Channels of Odisha with a wide viewership base globally viewed by Odia community.
For more information about our community-centric initiatives and programmes, please refer to the Community section of the report.
CIVIL SOCIETY
Civil society plays multiple roles in the nation's governance and development agenda alongside governments and industry. They are facilitators, conveners, innovators as well as service providers, advocates and grantors of societal license. We strongly believe that civil society is a glue that binds public and private activity together in such a way that it amplifies the common good. With an overarching mission to serve society, we are always eager to engage in a constructive dialogue and take feedback. Our recently conducted third party dipstick assessment with various stakeholders including civil society showed our improvement in creating harmony among our local communities in India, South Africa and Zambia.
EMPLOYEE ENGAGEMENT
Our employees are our brand ambassadors and it is vital that they remain updated about the vision, mission, goals and progress of the Group and its businesses. We engage with them on a regular basis through town hall meetings, e-zines, newsletters, social media, group interactions and the newly introduced V-connect app. Our engagements have a threefold objective: receive on-ground feedback on stakeholder expectations, listen to their views on ongoing initiatives, and receive suggestions for new ones, plus keep them informed about the organisation's actions and plans so that they feel connected and can hold informed conversations with stakeholders.
Newsletters & Publications
Here are some of the Group-wide and business-specific newsletters that help us engage with the employees in a transparent and timely manner.
PULSE The Group-wide HR newsletter covers a plethora of topics like messages from the top leadership, engagement initiatives across the Group, updates on various workshops and performance indicators and future plans keeping our employees abreast about current events.
WEEKLY BUZZ An E-Newsletter published by Vedanta Limited Jharsuguda, it provides employees, a platform to share interesting aspects of their professional and personal life.
ZINC NEWS The in-house newsletter of HZL includes the Chairman's message, town hall updates, updates and impacts of various CSR activities and the seminar/workshop calendar for the month ahead. Its section 'Ask for Zinc' highlights little known usages of zinc in everyday life.
BALCO MANCH The BALCO newsletter highlights the impacts of various CSR activities, the awards and accolades won by the business and shares the leadership's vision for future.
KONKOLA NEWS The KCM newsletter includes the CEO's message, updates on technology, safety and training, and testimonials and case studies of employees.
CORPORATE CAMPAIGN
A strong brand effectively achieves acceptance among all its stakeholders, and builds employee satisfaction and retention, adding value to the core purpose of the organisation. On March 27, 2017, we launched our corporate advertising campaign, to create awareness on the positive impact of natural resources in the lives of every individual.
The statement 'Transforming Elements', in the form of a tagline, is the single most visible manifestation of our diversified natural resources business which produces metals essential to everyday life, infrastructure, technology and ensuring self-sufficiency of any country's economy and contributing to a sustainable future.
THE CAMPAIGN PLAYS A SIGNIFICANT ROLE IN AUGMENTING VEDANTA'S BRAND EQUITY IN THE SOCIETY
AT LARGE WITH THE PLEDGE OF DEDICATING 75% OF THE WEALTH CREATED TO SOCIAL GOOD.
