Vedanta Aluminium’s BALCO certified against Aluminium Stewardship Initiative’s Performance Standard V3
27th March 2024
- The iconic aluminium producer is the first Indian company to be awarded this certification
New Delhi, 27th March 2024: Bharat Aluminium Company Limited (BALCO), India’s iconic aluminium producer and a unit of Vedanta Aluminium, has achieved the Aluminium Stewardship Initiative (ASI) Performance Standard V3 Certification for the manufacture and supply of a wide range of primary aluminium products at its facility in Korba, Chhattisgarh. This includes a smelter with two potlines for producing molten aluminium (hot metal), three casthouses for shaping the aluminium, a rolled product plant and a power generation plant. Together, they contribute to an annual production capacity of 575,000 tonnes at BALCO.
BALCO produces aluminium wire rods, ingots, primary foundry alloys and rolled products, as well as India’s first low carbon aluminium range Restora. They find applications in several sectors including automobiles, infrastructure, insulations, power projects, electrical and packaging. It has emerged as the first Indian company to achieve the ASI Performance Standard V3 Certification. Previously, Vedanta Aluminium has also achieved the ASI Performance Standard V2 Certification for its smelter and captive power plant located within the Special Economic Zone (SEZ) at Jharsuguda, Odisha, India.
The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the only comprehensive voluntary sustainability standard initiative for the global aluminium value chain. The ASI Performance Standard V3 (2022) was launched in May 2022 following a multi-year revision process. It defines 11 principles and 62 criteria under three sustainability pillars – Environment, Social, and Governance – with the aim to address sustainability areas in the aluminium value chain, such as biodiversity, indigenous peoples’ rights, circularity, and greenhouse gas emissions. The independent, third-party audit of Bharat Aluminium Company Limited (BALCO) was carried out by CETIZION Verifica.
Mr John Slaven, CEO, Vedanta Aluminium, said, “We welcome BALCO’s inclusion in the esteemed ASI membership and its Certification against the ASI Performance Standard V3, which includes the production of our low-carbon ‘green’ aluminium Restora and Restora Ultra brands. As India’s iconic aluminium producer, BALCO has pioneered sustainable processes across every step of the aluminium value chain, establishing itself as a benchmark within the global industry. The certification comes as a reiteration of our continuous commitment to responsible production practices, and ignites in our teams a renewed focus on exploring new ways to harness aluminium’s boundless potential towards building a sustainable world.”
Dr. Fiona Solomon, CEO, Aluminium Stewardship Initiative, said, “We congratulate Bharat Aluminium Company Limited (BALCO) on achieving Performance Standard Certification V3 (2022) for its integrated aluminium production facilities in Chhattisgarh. As a large aluminium producer in India and a part of Vedanta Limited – Aluminium Business, BALCO plays an important role in the global aluminium industry. This certification marks a notable milestone in BALCO’s sustainability journey and demonstrates its commitment to adopting practices that meet a broad range of environmental, social and governance criteria.”
Vedanta Aluminium, of which BALCO is a part, is adopting a multi-pronged approach to achieve Net Zero by 2050, by setting clear timelines to mitigate emissions, deploying cutting-edge carbon reduction technologies, greater usage of renewables, and supporting grassroots climate resilience initiatives among local communities. Striking a balance between ecological needs and business requirements, the company achieved an impressive 28% reduction in its greenhouse gas (GHG) intensity in FY23 from a FY12 baseline, while also enhancing production three-fold during the same period.
About BALCO:
Bharat Aluminium Company (BALCO) is a subsidiary of Vedanta Limited, operating a 0.57 million tonne per annum aluminium smelter in Korba, Chhattisgarh. It is part of Vedanta’s Aluminium Business, a division of Vedanta Limited, which is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium, i.e., 2.42 million tonnes in FY25. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 2nd in the S&P Global Corporate Sustainability Assessment 2024 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow. For more information, please log on to www.balcoindia.com
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Disclaimer:
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
About Vedanta Limited:
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil
& Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver,
Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa, Namibia, and
Australia. For two decades, Vedanta has been contributing significantly to nation building.
Governance and sustainable development are at the core of Vedanta's strategy, with a strong
focus on health, safety, and environment. Giving back is in the DNA of Vedanta, which is
focused on enhancing the lives of local communities. Under the aegis of Vedanta Cares, the
flagship social impact program, Nand Ghars have been set up as model anganwadis focused on
eradicating child malnutrition, providing education, healthcare, and empowering women with
skill development. Vedanta and its group companies have been featured in Dow Jones
Sustainability Index 2020, and were conferred Frost & Sullivan Sustainability Awards 2020,
CII Environmental Best Practices Award 2020, CSR Health Impact Award 2020, CII National
Award 2020 for Excellence in Water Management, CII Digital Transformation Award 2020, ICSI
National Award 2020 for excellence in Corporate Governance, People First HR Excellence Award
2020, ‘Company with Great Managers 2020’ by People Business and certified as a Great Place
to Work 2021. Vedanta’s flagship Nand Ghar Project was identified as best CSR project by the
Government of Rajasthan. Vedanta Limited is listed on the Bombay Stock Exchange and the
National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
For more information, please visit www.vedantalimited.com
