Hindalco Industries has been ranked as the Aluminum Industry Leader for its sustainability performance in the 2020 edition of the S&P Dow Jones Sustainability Indices (DJSI) corporate sustainability assessment (CSA) rankings.
Out of 61 Industries represented in the DJSI, Hindalco is the only company from India to be recognized as an Industry Leader this year.
The company got a total score of 75 points as against the industry average of 51.
“Hindalco’s scores are in the 100th percentile in most aspects of all 3 dimensions of the Environmental, Social and Governance (ESG) in the DJSI Corporate Sustainability Assessment (CSA),” the company’s statement said.
The ESG assessment dimensions include aspects like climate strategy, biodiversity, environment and social reporting, water-related risks, policy influence, customer relationship management, human capital development, among others.
Hindalco had made its debut on the DJSI last year entering the emerging markets index and had scored 60 points in 2019 placing it at number 3 among in the aluminum industry globally.
The company has shown a significant improvement in overall sustainability scores from 60 to 75 in the past year, which is both an indication that they are very much on the right path, as well as an inspiration for them to accelerate this journey.
Hindalco has taken a number of innovative steps on the sustainability front. In a global-first initiative to create value out of aluminum processing by-product, Hindalco has tied-up with cement manufacturers to use red mud as a replacement for mined resources.
Hindalco’s efforts in product stewardship revolve around sustainable transportation and logistics.
India’s first lightweight aluminum trailer and bulker, which helps transporters save up to 15,000 litres of fuel per trailer, was developed and commercialized.
Another initiative is on sustainable packaging, a combination of aluminium and jute bags, for food items.
They are also working closely with Xynteo on sustainable mining, which is focused on good environmental practices in water and biodiversity, community livelihood and health, among others.
The company is also working on water positivity in its mining locations by supporting the construction of rainwater harvesting ponds, reservoirs, agri-water management through CSR activities for local communities.
Reference- Hindalco Industry website & Online Newsroom, Economic Times, S&P Dow Jones website