CURRENT AFFAIRS
CURRENT AFFAIRS
Description
Bharat Aluminium Company Limited (BALCO), a Vedanta Aluminium company situated in Chhattisgarh, has acquired Aluminium Stewardship Initiative (ASI) Performance Standard V3 certification. This recognition places BALCO as the first Indian firm to receive this certification, demonstrating its commitment to sustainable practices in the aluminium value chain.
Certification Overview
BALCO obtained ASI Performance Standard V3 certification for its Korba facility, which includes a variety of primary aluminium production processes.
The certification acknowledges BALCO's commitment to 11 principles and 62 criteria across three sustainability pillars: environment, social, and governance.
Production Capacity And Facility Features
BALCO's Korba site includes a smelter with two potlines, three casting houses, a rolled product mill, and a power generation plant.
These facilities contribute to a total yearly aluminum production capacity of 575,000 tons.
Sustainability Focus Areas
The ASI Performance Standard V3 focuses on major sustainability areas of the aluminium value chain, such as biodiversity conservation, indigenous peoples' rights, circularity, and greenhouse gas emissions reduction.
BALCO's certification demonstrates its commitment to ecologically and socially responsible business practices throughout its activities.
Independent Certification Process
- The certification procedure included an independent, third-party assessment by CETIZION Verifica, which ensured reliability and impartiality.
Industry Recognition And Leadership
John Slaven, CEO of Vedanta Aluminium, praised BALCO's pioneering efforts in sustainable aluminium production, describing it as a global benchmark.
Fiona Solomon, CEO of the Aluminium Stewardship Initiative, stressed BALCO's importance as a key player in the Indian aluminium sector and hailed its milestone achievement.
Future Sustainable Goals
BALCO, as part of Vedanta Limited's Aluminium Business, is committed to reaching Net Zero Emissions by 2050, with specific timetables for emissions reduction.
This proactive strategy demonstrates BALCO's commitment to long-term environmental stewardship and sustainability.
By obtaining ASI Performance Standard V3 Certification, BALCO reinforces its leadership in sustainable aluminium production, establishing a precedent for the Indian sector and confirming its commitment to global sustainability standards.
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