In a bold move towards sustainability, Vedanta Ltd has outlined plans to invest $5 billion over the next decade in efforts aimed at cutting its carbon emissions by 25% by 2030. The natural resources major, which envisions achieving net carbon neutrality by 2050, disclosed these ambitious targets in its annual report for the fiscal year 2023-24.

As part of its strategy, Vedanta aims to ramp up its renewable energy capacity significantly. By 2030, the company plans to operate 2.5 gigawatts (GW) of round-the-clock renewable energy, with 838 megawatts (MW) currently under construction. This initiative underscores Vedanta's commitment to reducing its reliance on fossil fuels and embracing sustainable energy sources.

Moreover, the company has set ambitious targets for its vehicle fleet. By 2030, Vedanta aims to decarbonize its entire light motor vehicle fleet, and achieve decarbonization of three-fourths of its mining fleet by 2035. In the previous fiscal year, Vedanta invested $210 million towards decarbonization efforts, successfully reducing carbon emissions from 7% of its light motor vehicle fleet. The company is targeting a 50% reduction in fleet emissions by the end of the current fiscal year.

Commenting on the company's approach, Vedanta highlighted ongoing measures such as promoting operational efficiency, transitioning fuel sources, and exploring opportunities for green product development. These initiatives are integral to Vedanta's broader strategy of aligning business operations with sustainable practices and global environmental goals.

India, where Vedanta operates extensively, has set a national target to achieve net carbon neutrality by 2070. Vedanta's proactive stance and substantial investment in carbon reduction initiatives are expected to contribute significantly towards advancing India's climate goals while enhancing the company's long-term sustainability credentials.

The $5 billion investment plan underscores Vedanta's commitment to leading the charge towards a low-carbon future, positioning itself as a frontrunner in sustainable practices within the natural resources sector. As the world increasingly prioritizes climate action, Vedanta's ambitious targets and substantial investments are poised to set a benchmark for corporate sustainability efforts globally.