What defines a sustainable company?
Sustainability for Cairn, Oil & Gas vertical of Vedanta Limited is about:
- Listening to and engaging with our stakeholders
- Embedding sustainability aspects into our core decision-making processes
- Being prepared to address key environmental and social concerns challenging the organization
- Ensuring that we live up to our role of a responsible corporate citizen
- Running our operations in a safe manner – both for our workforce and for the communities impacted by us.
- Being ethical in all our transactions
An Inclusive, Cross-Functional Approach
The broad gamut of functional areas covered under sustainability mean that the topic needs to be governed across the organization. To meet this purpose‚ Cairn has set up a Sustainability Steering Committee (SSC). The SSC is Chaired by the Director of Strategy & Integration (Member: Executive Committee) and comprises of Directors/Heads of Department of all the key functions within Cairn.
This structure allows for the discussion and implementation of sustainability initiatives in a manner that is cognizant of business needs. Sustainability initiatives are owned by the respective heads of department and they form a part of their annual corporate KPIs. In addition, we have also created a sustainability team under our HSE department to drive and manage the daily interactions on the subject.
Advancing the Sustainability Agenda
As we move forward with our sustainability agenda, it is clear to us that we need to take a long-term approach to institutionalizing sustainability within the organization. At Cairn, we are strong believers of implementing organization-wide changes in a phased manner. This allows us to monitor progress and tweak our approach to changing ground realities. Embedding sustainability involves the same methodology.
We have planned our sustainability journey in three-phases:
In Phase 1, we have tried to align the day-to-day job functions of our employees to the larger sustainability agenda. Last year, we undertook studies to assess how closely our functions are aligned with the larger sustainability themes of climate change, natural resource management, waste management, workforce safety, training, societal impact, human rights, corruption, influencing public policy, and product responsibility. Where we found linkages, we have sought to highlight them within the organization. Where we found gaps, we have begun the process of debate and discussion with our management team to see how these gaps are to be bridged. Materiality assessment exercises have helped us focus on the themes that are relevant to our organization.
In Phase 2, we will aim to extend our decision-making structures to incorporate sustainability metrics. The goal will be to begin embedding sustainability into our processes and strive for best-in-class performance benchmarks. Sustainability measures should start to become part of our operations and processes by the end of this phase.
In Phase 3, we will assess our sustainability performance as a result of embedding sustainability metrics in our decision-making and strategy-setting process. This will be a checkpoint to assess the impact of our sustainability initiatives on our business.
|Discovery of sustainability aspects in business-as-usual functioning||Sustainability strategies linked closely to business reality||Adoption of aspirational targets|
|Across seismic, drilling projects, & oprations||Striving for best-in-class performance bench-mark||Embedding sustainability measure in decision-making|
The sustainability team welcomes input and feedback from the organization because we believe that it is through our collective efforts and consciousness that we can work towards sustainability at Cairn. We can be reached at firstname.lastname@example.org