New Delhi : Vedanta Limited, a globally diversified natural resources company, won the prestigious South Asian Federation of Accountants (SAFA) Bronze Award for the Best Presented Annual Report for the year 2022 in the Diversified Holdings Category. The Award ceremony event was hosted by Institute of Chartered Accountants of India (ICAI) at Ghaziabad on 22nd December, 2023.
The SAFA BPA Award is considered as the most prestigious accolade for financial reporting in the South Asian region and signifies SAFA’s recognition and reward for organizations in the region which have achieved excellence in presentation and disclosure of high quality, relevant, reliable, and objective financial statements in accordance with the international framework. This significant recognition underscores Vedanta's unwavering commitment to excellence in financial reporting, setting a new standard for transparency and accountability in the industry.
Mr. Ajay Goel, Chief Financial Officer, Vedanta Limited, expressed his gratitude for the prestigious accolade, stating, "We are honoured to receive the SAFA Award for the Best Presented Annual Report for the year 2022. Our commitment to governance, transparent reporting and financial stewardship shines brightly, reflecting our dedication to our stakeholders. We share this success with our dedicated team, whose hard work has contributed to this achievement."
As Vedanta continues to grow, the award reinforces its position as a leader of best practices in financial reporting, garnering the trust and confidence of stakeholders, investors, and the wider business community.
The award, conferred by the South Asian Federation of Accountants, a committee dedicated to the improvement in transparency, accountability & governance, is for recognition of exemplary practices adopted by companies in the South Asian region. With a legacy spanning 40 years, SAFA represents countries like Bangladesh, India, Maldives, Nepal, Pakistan, Sri Lanka, and Afghanistan.
Vedanta has previously been honoured with a 'Certificate of Merit' for its annual report 2020 by the South Asian Federation of Accountants, making this Bronze Award a notable progression. Recently, the company was also conferred with the ‘Platinum Award’ at the coveted League of American Professionals (LACP) Spotlight awards for its Integrated Annual Report FY 22-23.
About Vedanta Limited
Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into semiconductors and display glass. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, has pledged Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India. Vedanta Ltd. has been listed in Dow Jones Sustainability World Index 2022, conferred Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2023. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.
