Mumbai (Maharashtra) [India], November 17 (ANI/PRNewswire): Hindalco Industries Limited, the metals flagship of Aditya Birla Group, has achieved the No.1 rank in the Aluminium Industry for its sustainability performance in the 2021 edition of the S&P Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment (CSA) rankings.
Hindalco is the only aluminium company to enter the exclusive DJSI World Index in 2021 and retains its membership of DJSI Emerging Markets Index. The DJSI World Index comprises top 10% of the largest 2,500 companies by market capitalisation in the S&P Global Broad Market Index based on long-term economic and ESG factors.
This is the 2nd consecutive year that Hindalco is at the top of the DJSI Indices having achieved a score of 73 percentage points against an industry average score of 30.
Satish Pai, Managing Director, Hindalco Industries Ltd, said, "The continued recognition by DJSI validates Hindalco's pioneering work and consistent efforts to integrate sustainability across the aluminium manufacturing chain - from mining to end products. This distinction takes forward the idea of aluminium as a 'green' metal. Along with a sustained focus on decarbonisation, 'green' is about managing waste, zero liquid discharge, life cycle impact, biodiversity, and more. Our listing in DJSI is a testament to the effectiveness of our holistic approach and reinforces our commitment to our motto of people, planet and prosperity."
Hindalco achieved 100th percentile in most aspects of the 3 dimensions of Environmental, Social and Governance (ESG) including Climate Strategy, Environment and Social reporting, Water-related risks, as well as in operational eco-efficiency parameters such as Waste Management and Resource Consumption, Cybersecurity, Community Engagement and Employee Development.
Manjit Jus, Global Head, ESG Research and Data, S&P Global, said, "We congratulate Hindalco for being included in the Dow Jones Sustainability Index (DJSI) for DJSI World and DJSI Emerging Markets indices. A DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global Corporate Sustainability Assessment is testament to the growing movement for ESG disclosure and transparency."
Hindalco is leading the way in terms of red mud utilization across the Aluminium industry, with a utilization of 100% in three of its alumina refineries in FY21, primarily through the establishment of high-volume supply contracts with cement industries across India.
Hindalco's utilization of overall waste had also reached 80% in FY21, an increment of 15 percentage points over the last financial year, in line with the Company's goal to achieve zero-waste to landfill by 2030.
Hindalco has been able to record a 48% reduction in specific freshwater withdrawal by focusing on zero liquid discharge, higher water recycling and efficient water use.
Hindalco has developed a Sustainable Mining Charter alongside with sustainability advisory partner Xynteo, focusing on best environmental practices in water and biodiversity, community livelihood and health, among others.
Aluminium is infinitely recyclable and Hindalco has been consistently working to increase use of recycled aluminium in its global operations through its subsidiary, Novelis Inc. In fact, increasing its presence in downstream aluminium products and use of recycled aluminium is an important lever in Hindalco's decarbonization strategy.
Recycling aluminium requires just five per cent of the energy used to produce primary aluminum with only five percent of the associated greenhouse gases. In FY21, the recycled content in Novelis' products rose to 61%. Hindalco's aims to become carbon neutral by 2050 through a combination of transition to cleaner energy and product stewardship.
Dow Jones Sustainability Indices is the world's leading provider of ratings that evaluate publicly listed companies against environmental, social and governance (ESG) criteria. Only the most sustainable companies in each industry are considered for inclusion in the list.
The DJSI World Index comprises the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index based on long-term economic and ESG factors.
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