EIRIS publishes best practice recommendations for Vedanta to address investor concerns over alleged human rights impacts in India

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Article
22 July 2010

EIRIS recommends governance steps to tackle investor concerns at Vedanta

Author: EIRIS

…EIRIS, has today published a series of best practice recommendations designed to address investors' concerns about environmental, social and governance (ESG) practices at Vedanta Resources...Responsible investors have been engaging with the Company and some have disinvested because of concerns over stakeholder-related risks. EIRIS' report Improving Vedanta Resources' governance of responsible business practice provides details of allegations against the company relating to human rights issues, indigenous rights…and also environmental issues. The report also draws on best practice from amongst other mining companies who face similar ESG risks in order to propose ways in which Vedanta can strengthen its approach…

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Article
30 June 2010

[PDF] Improving Vedanta Resources’ governance of responsible business practices

Author: EIRIS

Vedanta Resources…has come under international scrutiny for its plans for a bauxite mine and the expansion of its Lanjigarh alumina refinery…The UN protect, respect and remedy framework makes clear that companies have the responsibility to respect human rights and that due diligence should cover these issues…This briefing focuses on the EIRIS Convention Watch reports on Vedanta Resources, giving details of the Company response…To follow best practice in addressing investors’ concerns, Vedanta Resources needs to…1. Widen the remit of the HSE committee…2. Train and allocate responsibility at board level…[includes case studies of best practice by Alcoa, Anglo American, BHP Billiton, BP, Goldcorp, Rio Tinto; also refers to Bharat Aluminium (BALCO) (part of Vedanta). Also refers to PGGM]

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