Our vision is to be a leading, diversified natural resources company providing superior returns to our shareholders – a journey we have been on for a decade. We will meet our vision by delivering high-quality assets and low-cost operations, with sustainable development at the core of all that we do.
All our activities are informed by our Group Core Purpose & Values:
We aim to deliver growth and long-term value while upholding sustainable development through our diversified portfolio of large, long-life and low-cost assets. Our Sustainable Development Model, which comprises the four pillars of Responsible Stewardship, Building Strong Relationships, Adding and Sharing Value and Strategic Communications provides us with a robust structure for driving our future growth, advancing our business outcomes and offering significant benefits to the communities that host our operations.
Sustainable Development Model
Responsible Stewardship means ensuring we have effective and appropriate business processes, including robust compliance and risk management, protecting the health and safety of our employees and responsibly managing our environmental and social impacts.
Building Strong Relationships captures our engagement with the people and organisations that are interested in our business. Doing this effectively can lead to the identification of new areas where we can find and unlock additional value as well as equipping us to foresee and appropriately manage challenges.
Adding and Sharing Value encapsulates the direct and indirect positive economic impact we make, by investing in people through employment, building infrastructure, developing technology and the payment of taxes, royalties and other payments to local, state and national governments. Additionally, it captures the value we offer by turning the knowledge and ideas sourced through engagement with our stakeholders into specific projects, including collaborating with governments and NGOs to bring value to the communities that host our operations.
The Strategic Communication pillar interlocks with the other three pillars of our model, and is the guiding principle which enables the organisation to engage with our stakeholders in a transparent dialogue. This pillar is the vital element of sustainable development, in implementing and strengthening our 'license to operate' efforts. This pillar further reflects our commitment to becoming a more transparent and responsible corporate citizen.
Our four pillars guide our stakeholder engagement and help us to build trusted relationships. As a consequence of these engagements and to respond to stakeholders’ areas of interest we developed our Sustainable Development Framework. The Framework comprises policies, technical standards, management standards and guidance notes across the pillars to establish clear standards, set targets for improving performance and maximise value to our stakeholders.
Since introducing our Sustainable Development Model and supporting Sustainable Development Framework in 2011-12, we have implemented our policies, standards and processes across the Group.
Vedanta Sustainable Development Framework
For more information on our progress in implementing our strategic sustainable development initiatives.