Hindalco Industries Limited, the flagship metals company of the Aditya Birla Group, has earned the prestigious title of the world’s most sustainable aluminium company for the fifth year in a row. The recognition comes from the 2024 S&P Global Corporate Sustainability Assessment (CSA), highlighting Hindalco’s ongoing commitment to sustainability and ESG excellence.
Top Performance in the 2024 S&P Global Corporate Sustainability Assessment
On October 30, 2024, Hindalco secured a remarkable score of 87 points, a significant 9-point increase from the previous year. It is the only aluminium manufacturer to achieve the top position, surpassing its nearest competitor by an impressive 22 points. These rankings are part of the Dow Jones Sustainability Indices (DJSI) World Index, which evaluates the top 10 percent of the largest 2,500 companies in the S&P Global Broad Market Index based on long-term economic performance and Environmental, Social, and Governance (ESG) criteria.
Hindalco’s Commitment to Environmental and Social Responsibility
Satish Pai, Managing Director of Hindalco Industries, attributed the company’s consistent high performance to its unwavering commitment to sustainability. Key initiatives include biodiversity conservation, achieving water positivity, minimizing waste to landfills, and a strategic plan to achieve net-zero carbon emissions. These efforts underscore Hindalco’s leadership in implementing advanced environmental practices.
Achieving the Highest Scores Across ESG Dimensions
Hindalco excelled in all three ESG categories, achieving the 100th percentile in crucial areas such as:
- Climate Strategy: Comprehensive plans to reduce carbon emissions.
- Water Risk Management: Effective strategies to mitigate water-related risks.
- Operational Eco-Efficiency: Optimizing resource use to reduce environmental impact.
- Social and Environmental Reporting: Transparent communication of sustainability practices.
Other notable achievements include excellence in waste management, resource conservation, cybersecurity, community involvement, and employee training and development.
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Leading Climate Action Initiatives
Hindalco continues to lead the way in climate action and emissions reduction. A highlight of these efforts is the establishment of a 100 MW carbon-free power project at its Odisha smelter, which has positioned Hindalco as a pioneer in renewable energy solutions. This initiative earned the “Energy Transition Changemaker” award at COP28, showcasing the company’s dedication to a clean energy future.
Advancing Waste Management and Circular Economy Goals
Hindalco’s achievements in waste reduction are noteworthy. In FY24, the company recycled 85 percent of its total operational waste. Furthermore, three of its units have been certified as zero-waste-to-landfill, a significant milestone toward its goal of achieving zero waste to landfill by 2030. These efforts highlight Hindalco’s leadership in promoting circular economy practices.
A Legacy of Sustainability and Corporate Governance
Hindalco’s continued focus on environmental stewardship and robust governance frameworks has solidified its position as an industry leader. By continuously improving its practices and setting ambitious sustainability goals, Hindalco is shaping a future where economic growth and environmental protection go hand in hand.
Here are the MCQs based on the article:
- How many consecutive years has Hindalco been recognized as the world’s most sustainable aluminium company?
A) 3 years
B) 5 years
C) 7 years
D) 10 yearsAnswer: B) 5 years - What score did Hindalco achieve in the 2024 S&P Global Corporate Sustainability Assessment (CSA)?
A) 78 points
B) 80 points
C) 87 points
D) 90 pointsAnswer: C) 87 points - How many points did Hindalco’s 2024 score improve compared to 2023?
A) 5 points
B) 7 points
C) 9 points
D) 12 pointsAnswer: C) 9 points - In which index is Hindalco listed as a top-performing company for sustainability?
A) NASDAQ 100 Index
B) Dow Jones Sustainability Indices (DJSI) World Index
C) FTSE 100 Index
D) MSCI World IndexAnswer: B) Dow Jones Sustainability Indices (DJSI) World Index - Who is the Managing Director of Hindalco Industries?
A) Kumar Mangalam Birla
B) Anil Agarwal
C) Satish Pai
D) Gautam AdaniAnswer: C) Satish Pai - Which award did Hindalco’s 100 MW carbon-free power project in Odisha receive?
A) Global Green Award
B) Energy Transition Changemaker Award
C) Climate Champion Award
D) Renewable Energy Leader AwardAnswer: B) Energy Transition Changemaker Award - What is Hindalco’s goal for waste management by 2030?
A) Achieve 100% recycling
B) Achieve zero waste to landfill
C) Reduce water usage by 50%
D) Transition to 100% renewable energyAnswer: B) Achieve zero waste to landfill - What percentage of operational waste did Hindalco recycle in FY24?
A) 70%
B) 75%
C) 85%
D) 90%Answer: C) 85% - In which ESG dimensions did Hindalco achieve the 100th percentile?
A) Cybersecurity and water risk
B) Resource consumption and biodiversity
C) Climate strategy, water-related risks, and eco-efficiency
D) Employee engagement and supply chain managementAnswer: C) Climate strategy, water-related risks, and eco-efficiency - Which of the following initiatives does Hindalco focus on to achieve net-zero emissions?
A) Implementing solar power in urban areas
B) Building wind farms in desert regions
C) Establishing a carbon-free power project in Odisha
D) Reducing workforce size to cut emissionsAnswer: C) Establishing a carbon-free power project in Odisha
