Hindalco Industries has cause for pride with regards to its sustainability performance. The company recently ranked No.1 in the Aluminium Industry in the 2021 S&P Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment. Satish Pai, MD, Hindalco Industries, was keen to point out that such recognition is the result of sustained effort, on the second episode of Moneycontrol 'CEOs Talk Sustainability', presented by Volvo. "It's fair to say that ESG has become as important as, let's say, financial results or other indicators of corporate performance", he told host Nisha Poddar, as he laid out the conditions for others to follow his company's lead and successfully integrate ESG into their business strategies.
It was advice tinged with honesty. Satish Pai was the first to admit how improved profitability in the mining industry has enabled Hindalco to spend generously on sustainability goals. Although the company is constrained by the lack of obvious technological solutions to reduce carbon emissions, it has made up for it through progressive innovations and outreach, like a homegrown solution for better disposal of bauxite, or even their livelihood creation efforts in Kolar, which has led to a resurgence of local handicrafts.
Apart from Hindalco's pioneering efforts, Satish Pai was also effusive in his praise of India's indigenous inventors, who have surpassed their global peers in improvising simple sustainability solutions. According to him, the Government too has stepped up to the challenge, subsidizing and supporting the electrification of mobility in India. "The second aspect on which the Government should do a lot more - and they're starting to do it - is recycling", he noted.
This is partnered content in association with Volvo.
