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TRANSFORMING TRANSFORMING TRANSFORMING
SUSTAINABILITY REPORT FY 2023 COMMUNITIES THE PLANET THE WORKPLACE

Approach to Materiality Assessment

Issues identified as being of material
importance for Vedanta help to determine MATERIALITY FRAMEWORK

the strategy and actions around our In determining our material topics, we have
economic, environmental, and social considered the following frameworks:
impact, and significantly influence our
future roadmap.

In FY 2023, we undertook a thorough
evaluation of all material topics that carry Sustainability Accounting
significance for our internal and external Standards Board (SASB)
stakeholders.

This assessment has played a crucial role in
appraising the risks and opportunities we face, and
has contributed towards the refinement of our ESG
strategy. The comprehensive assessment follows MSCI ESG
the principles of double materiality which involves
Materiality assessing the impact of Vedanta on stakeholders
based on the GRI (Global Reporting Initiative)
Universal Standards, as well as evaluating the
impact of ESG topics on Vedanta.
S&P Global ESG Materiality
This two-pillar approach considers both our
organization's impact on the economy, environment,
and society, and the reciprocal impact of society
and the environment on our organization. Vedanta
conducts materiality assessment every two years,
and reviews the material issues annually.

Furthermore, we maintain a continuous and robust International Council on Mining and
engagement with our stakeholders, recognizing Metals (ICMM) Principles
their substantial influence on our business. Regular
interactions with them enable us to understand
their perspectives and promptly respond to
evolving market dynamics, ensuring we stay ahead
of potential risks.

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