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TRANSFORMING TRANSFORMING TRANSFORMING
SUSTAINABILITY REPORT FY 2023 COMMUNITIES THE PLANET THE WORKPLACE
Supply Chain Assessment and Capacity Building Programmes
Development
business-critical partners who provide Evaluation criteria for our business partners We maintain ongoing engagement with our
Vedanta upholds its brand values of essential components or services with include: supply chain partners through various
integrity, transparency, and responsibility limited alternative follow a risk-based • Historical financial performance initiatives such as training programmes. These
with utmost dedication. To ensure approach to determine the need for training sessions are specifically designed to
consistency, we have streamlined a additional due diligence or risk audits for • Management capability, including the enhance safety awareness and practices
methodological approach for assessing its business partners. This may involve ability to meet regulatory among our business partners and
and monitoring key performers based on third-party audits against benchmarked requirements contractors, including on-the-job safety
HSE, business ethics and climate change standards. Business partners are • Stability and scale of their business training and safety town-halls aligned with
parameters. This process helps to identify segmented based on the risks they Management Standard Competency, Training
and track potential risks within the pose to our operations, using criteria operations and Awareness. By providing these platforms,
Company’s supply chains. such as inbound supply chain risk and • Quality of the product/service offered we not only prioritise the safety of all business
the significance of suppliers and service • Ability to adhere to our Supplier Code partners, but also create opportunities to
Risk Assessment: Our Technical Standard providers as per defined definitions. To of Conduct - including HSE criteria, explore new markets and services while
Supplier and Contractor Management ensure responsible sourcing, especially familiarising them with the best industrial
outlines the fundamental components of in conflict-affected and high-risk areas MSA (Modern Slavery Act) compliance, practices. This approach allows us to deeply
our Supplier Risk Management procedure. (CAHRA), robust internal management environmental compliance embed sustainability principles, including
This comprehensive process establishes a practices are implemented for • Adherence to timelines and continuity Vedanta's decarbonisation aspirations,
uniform method for handling risks conducting due diligence, that enables of delivery throughout the entire value chain.
associated with suppliers and their Vedanta to identify, assess, and
performance throughout the entire effectively manage potential risks • Collaborating with new-age innovative
organization. associated with its supply chains. start-ups CAPACITY BUILDING PROGRAMS
• Capacity building around best
Desktop assessment: The preliminary In addition, the Company has industrial practices Total number of suppliers in capacity
assessment of a supplier involves a implemented a process to identify and building programs
thorough analysis conducted through report potential red flags and the 492
desktop review. This helps us to recognize outcomes of risk assessments to senior
sustainability matters associated with a management. This enables Vedanta to FY 2023
supplier. These matters could be of proactively identify and address risks
present significance and interest to within its supply chains. In cases where % of significant suppliers in capacity
essential external stakeholders like red flags are detected, enhanced due building programs
regulators, NGOs and wider industry/sector diligence measures are undertaken to
developments. thoroughly investigate the presence of 44%
risks, which may include serious human FY 2023
On-site Assessment: Vedanta conducts rights abuses, risks related to security
annual third-party on-site assessment for forces, support to non-state armed
its significant suppliers to understand groups, money laundering, tax evasion,
whether the suppliers are compliant with bribery, and fraudulent
social and environmental regulations misrepresentation of material origins.
applicable in their respective regions
Vedanta prioritises strategic or
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