Incubating Responsible Growth: Adani Enterprises Limited Sustainability Report 2022-23

Adani Enterprises Limited
Sustainability Report 2022-23
Incubating
Responsible
Growth
Key Highlights in FY 2022-23
Environment Social
26% 55% 28% 63% ~67% 12%

Reduction in Energy Intensity Reduction in Emission Intensity Reduction in Water Intensity Increase in women employees Employees covered under skill Average increase in employee
(Per Rupee of Turnover) (Per Rupee of Turnover) (Per Rupee of Turnover) on Company’s payroll (as upgradation trainings remuneration (excluding KMPs)
compared to FY 2021-22)
13% 82% Majority of

Share of Renewable Energy Waste avoided from going to landfill 100% 72% 35%
sites certified for EMS Sites assessed on health Employees covered under Procurement from MSMEs
(ISO 14001: 2015) and safety Human Rights Training
2,03,519 KL 13 lakh
of treated waste water used for
landscaping
Trees planted
E17.75 crore
Spent on CSR
Governance
5 Zero Zero 9 Zero Zero
Independent Directors on the Complaints on ethics and Instances of corruption, bribery Committees chaired by Complaints related to breach of Complaints on sexual harassment
Board integrity or anti-competitive behaviour Independent Directors data security and cyber security or workplace discrimination
95 percentile B
Global score Score received in CDP for taking
(S&P Global CSA) coordinated action on climate
issues

Incubating
Adani Enterprises Limited (AEL) plays a Central to our vision is an ardent desire
pivotal role in nurturing innovation and to lead India in spearheading a green and
entrepreneurship, positioning itself as a sustainable energy future. We perceive
vanguard in shaping the future. Our focus ourselves not merely as corporate entities,
extends beyond immediate gains; we strive but rather as stewards of the environment,
Responsible
to establish enduring enterprises that will dedicated to harnessing the immense
stand the test of time and serve as pillars potential of clean energy sources to create
for future generations. a cleaner and greener world.
The remarkable evolution of AEL, The recognition and trust of our
transitioning from its modest origins stakeholders have been garnered through
Growth
as a trading company to a diversified our outperformance and commitment
conglomerate, is a testament to our to responsibility. Our diligent efforts
determination to effect meaningful change. have resulted in increased valuations
Presently, we operate across various and the enduring sustainability of
sectors, including Mining Services, Airports, our businesses—a testament to our
Solar Manufacturing, Data Center, Roads achievements. Moving forward, guided
When it comes to progress and
and Water and Defence and Aerospace. by principles of ethical growth and
development, our portfolio of In the future each of these ventures may societal well-being, we warmly invite all
companies within the Adani flourish as an independent entities. This stakeholders to join us in crafting a future
distinctive approach not only paves the way where prosperity is harmoniously balanced
Group stand tall, united by our
for individual success but also positions with responsibility, and where progress is
commitment to a future rooted AEL as a genuine wealth creator, fuelling redefined with empathy at its core.
in sustainable growth. Fuelled economic growth and fostering innovation United by our shared purpose of Growing
across a diverse range of industries.
by unparalleled opportunities, Responsibly and Building a Sustainable
our vision entails a world where As we strive towards a greater purpose, Future, we shall rise together to embrace
we hold a profound sense of responsibility the challenges ahead.
prosperity and responsibility go towards our nation and its people. By
hand in hand. We believe that strategically investing in critical areas such
success is not merely measured as Defence and Aerospace, we actively
contribute to the security and progress of
by profits, but equally by the our country, acknowledging the significance
positive impact we leave on our of safeguarding our sovereignty and
planet and its inhabitants. shaping a brighter future.
2 Adani Enterprises Limited 3

Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Contents About the Report

5 6 10 12 This is Adani Enterprise Limited’s (AEL) second Sustainability Report. The Report
About the Chairman’s Managing ESG Head’s covers the enterprise-wide sustainability approach of Adani Enterprises, outlining
Report Message Director’s Message Message
material sustainability issues specific to the sectors in which it operates. It explains
the Company’s approach to incubating sustainable businesses. The disclosures in the
Report pertain to the reporting period from 1 April 2022 to 31 March 2023. To ensure
14 16 30 38 transparency and quality, external experts were engaged to review and address
ESG Targets and AEL at a Glance Sustainability Governance constraints related to data quality and availability, stakeholder expectations, and
Performance Strategy
Annexures reporting commitments.
Reporting Frameworks Mumbai, and Thiruvananthapuram. The data pertaining to

the recently established Data Center business is limited to
62 94 133 The Report has been developed in accordance with the GRI
its operational center at Chennai. The Report also includes
Environment Social Annexures Standards and includes disclosures aligned with various
details of Defence and Aerospace operations in Bengaluru,
frameworks, including the United Nations Global Compact
Gwalior, and Hyderabad. The Roads business span across
(UNGC), Task Force on Climate-Related Financial Disclosures
Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh,
(TCFD), Business Responsibility and Sustainability Report
Kerala, Gujarat, West Bengal, Odisha, Uttar Pradesh, and
(BRSR) by the Securities and Exchange Board of India
the sewage treatment plants are operational at Prayagraj
(SEBI), World Economic Forum International Business
and Bhagalpur. The irrigation project is in operation across
Council’s (IBC) ESG framework (WEF-ESG) core metrics,
Madhya Pradesh.
and key requirements of the S&P Global Corporate
Sustainability Assessment (CSA). Additionally, the Report
maps AEL’s contribution to the United Nations Sustainable Board Responsibility Statement
Development Goals (UN SDGs). Our Board of Directors (BOD) and Senior Management have
reviewed the Report’s content. Our Board and Management
Reporting Scope and Boundaries undersign that the contents of this report have been
presented in a fair, transparent, and balanced manner.
The Sustainability Report for FY 2022-23 focuses on
the ESG-related performance of operational businesses
(Natural Resources, Airports, Solar Manufacturing, Roads Safe-harbour Statements
and Water, Data Center, Defence and Aerospace) under AEL This Report contains forward-looking statements about
that have operations in India. As compared, last year we AEL’s plans and expectations based on assumptions and
had reported on three businesses (Natural Resources, Solar past performances. These assumptions are reliant on
Manufacturing and Airports) which were operational at that developments in the industry, regional markets, government
time. As AEL is an incubating business of Adani Portfolio, regulations and laws, among other incidental factors.
the boundaries are flexible and may keep on changing It is advised that these statements must not be used as
every year. The baseline including the reporting boundary an assurance of AEL’s performance in the future, as the
might get impacted as and when any new business gets underlying conditions may change over time.
incubated in AEL, the business at the project stage becomes
operational or moves out from AEL as an independent Assurance of Disclosures
legal entity. The data and information disclosed in this Report has been
Under the Natural Resources business, five MDO (Mine independently assured by Intertek India Pvt. Ltd. This Report
Developer and Operator) sites—Parsa East and Kente has been prepared with due consultation with our senior
Basan (PEKB), GP III, Talabira II and III, Suliyari and Kurmitar management, including the assurance stage. The assurance
are covered. Solar Manufacturing operations of AEL are statement is attached with this report.
located at Special Economic Zone (SEZ) Mundra. Airports
business covers seven national and international airports— Feedback
Ahmedabad, Jaipur, Guwahati, Lucknow, Mangaluru, Your suggestions, feedback and clarifications on this Report
can be addressed to [email protected].

Chairman’s Message Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Your Group Will Continue

to Consolidate What it A Global Reset is Underway
There can be no denying that the world is continuing the breathtaking advances in artificial intelligence,
Has Built While Looking at to be hit by multiple shocks, be it the climate

emergency, geopolitical disequilibrium, supply chain
and what we have is a massive potential reset in the
existing global operating models. The future of work,
Expanding its Horizons.

and energy volatility, or persistent inflation. What the future of learning, the future of medicine, and in
does make the situation a permacrisis is the fact that some ways, the future of economic growth itself will
we have never had a time wherein all these events need to be reset. Therefore, as we end one financial
happened simultaneously and without a clear solution cycle and begin another, it is important to step back
in sight. Add to this the opportunities and challenges and assess the global economic situation and India’s
because of the technological revolution, especially position as a part of this landscape.
India – The Beacon of Hope We have the statistics to prove it. Following
independence in 1947, it took us 58 years to get to our
While economic cycles are getting increasingly hard
first trillion dollars in GDP, 12 years to get to the next
to forecast, there is little doubt that India, already the
trillion and just five years to the third trillion. I anticipate
world’s fifth largest economy, will become the world’s
that within the next decade, India will start adding a
third largest economy well before 2030 and, thereafter,
trillion dollars to its GDP every 18 months, putting us on
the world’s second largest economy by 2050.
track to emerge as a 25 to 30 trillion dollar economy by
It is well understood that for any economy to lay the 2050. This could potentially drive India’s total market
foundation of growth, a stable Government is critical. We capitalisation to over US$ 40 trillion, an approximate 10x
have seen this impact with the implementation of several expansion from the current levels.
structural reforms that are critical for strong, sustainable,
I urge you to reflect on these incredible possibilities.
and balanced growth. This stability, coupled with India’s
India’s success story of balancing economic growth and
young demographics and continued expansion of internal
a vibrant democratic society has no parallel and a result,
demand, is a potent combination.
my belief in the India growth story has never been higher.
Our nation’s demographic dividend is expected to drive
consumption and accelerate the growth of a tax paying
society at a record pace over the next three decades.
The United Nations Population Fund (UNFPA) projects
that India’s median age will be just 38 years even in
2050. Over this period, India’s population is expected
Our nation’s demographic
to grow by approximately 15 % to 1.6 billion, but the per
capita income could accelerate by over 700 % to about dividend is expected to drive
US$ 16,000. On a purchasing power parity basis, this consumption and accelerate the
Dear Stakeholders,
per capita metric could be three to four times higher.
growth of a tax paying society
The growth of this consuming middle-class is expected
A few months ago, I heard a new term called ‘Permacrisis’. I learnt that the Collins Dictionary had defined it as to insulate us to some extent from global recessions as at a record pace over the next
‘An extended period of instability and insecurity’. It also chose it as the Word for the Year 2022. Interestingly, our growth is primarily driven by domestic demand. This, three decades.
I also learnt that two other words that were in the running for the top spot were ‘quiet quitting’, which meant in turn, should drive a surge in private and government
doing the bare minimum duties at work (in rejection of competitive careerism) and ‘vibe shift’, which meant expenditures, as well as attract increasing foreign
a significant change in the prevailing culture. What I find fascinating is that in the post-COVID world, these direct investments.
words accurately summarise changes that we see happening around us.
Mr. Gautam S. Adani

Chairman

Chairman’s Message Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
The Shortselling Incident It’s All About a Better Tomorrow

Let me now address the shortselling issue that impacted
Some Group Highlights
5 The India in which we live today is the most exciting land
us early this year. On the eve of our Republic Day, a US- The backward integration plans in the renewable of opportunities with blossoming entrepreneurial spirit.
based shortseller published a report just as we were Our Group is now constituted of 10 publicly traded energy value chain progressed as planned Every day is a beginning of something new, innovative,
planning to launch the largest Follow-on Public Offering entities, each with its own set of successes. and transformative. We have always believed in our
(FPO) in India’s history. The report was a combination a. A new solar module line plant of 2 GW was
‘growth with goodness’ philosophy and our track record
of targeted misinformation and outdated, discredited operationalised and,
I have listed below some key highlights across the speaks for itself. Your Group will continue to consolidate
allegations aimed at damaging our reputation and b. The existing 1.5 GW module line was upgraded to
generating profits through a deliberate drive-down of our various businesses: what it has built while looking at expanding its horizons.
2.0 GW using the TOPCON Cell Technology.
stock prices. Our customers speak for us, our investors speak for us,
Subsequently, despite a fully subscribed FPO, we selected 1 our shareholders speak for us, and our results speak for
to withdraw and return the money to our investors to

he Adani Group of companies set new financial
T
6 us. On behalf of your Company, I reaffirm and assure that
we are committed to the highest levels of governance
protect their interests. The short-selling incident resulted
performance records with: The ports business continued to be the pillar of and regulatory compliance.
in several adverse consequences that we had to confront.
Even though we promptly issued a comprehensive strength on all fronts. APSEZ continues to be amongst
a. Total EBITDA grew by 36% to I57,219 crore, In closing, let me emphasise how grateful I am for all your
rebuttal, various vested interests tried to opportunistically the most profitable port operators globally with a port
b. Total income grew by 85% to `2,62,499 crore; and support. It has been the greatest source of my strength
exploit the claims made by the short seller. These EBITDA margin of 70%.
c. Total PAT grew by 82% to `23,509 crore and it is my promise to you that I will do my utmost to
entities engaged and encouraged false narratives across
uphold the trust you have put in me and my team.
various news and social media platforms. Consequently,
the Hon’ble Supreme Court of India constituted an
2 7 Thank you.
Expert Committee to look into this matter. It comprised
individuals known for their independence and integrity. Adani Power Ltd. successfully commissioned the
The Group’s deleveraging program of US$ 2.65 billion Mr. Gautam S. Adani
The report of the Expert Committee was made public in 1.6 GW ultra-super critical Godda Power Plant and is
for the Adani portfolio companies was completed Chairman
May 2023. now supplying power to Bangladesh, which marks our
successfully and further improved our Net Debt to run
entry into transnational power projects.
The Expert Committee did not find any regulatory rate EBIDTA ratio from 3.2x to 2.8x in FY 2022-23.
failure. The Committee’s Report not only observed that
8
the mitigating measures, undertaken by your Company
helped rebuild confidence but also cited that there were
credible charges of concerted destabilisation of the
3
The transmission and distribution businesses set
Indian markets. It also confirmed the quality of our Group’s Our flagship Company, Adani Enterprise Limited (AEL)
new benchmarks. The Mumbai distribution business
disclosures and found no instance of regulatory failure or continued to successfully demonstrate its incubation
achieved a reliability of 99.99% and was ranked the
any breach. While the SEBI is still to submit its report in the capabilities with new businesses accounting for 50%
months ahead, we remain confident of our governance and number one DISCOM by the Union Ministry of Power.
of its EBITDA in FY 2022-23.
disclosure standards.
a. Of the several projects underway, two key ones
include the Navi Mumbai Airport and the Copper 9
82% Smelter, which are on schedule
b. The Integrated Resource Management (IRM)
Adani Total Gas Ltd., expanded access to clean
PAT growth, FY 2022-23 cooking fuel to 1,24,000 households last year with
volume increased by 37% to 88.2 MMT versus
a 46% increase in revenue to `4,683 crore and is
64.4 MMT in FY 2021-22
Adani Group Resilient, Stronger and Record transforming into a full spectrum sustainable energy
c. In the area of the media business, AEL acquired
Results for FY 2022-23 provider following its foray into the e-mobility and
New Delhi Television Ltd. (NDTV) and a 49% stake
Over the past three decades, I have learnt that growth biofuel businesses.
in Quintillion Business Media Limited
comes with its set of challenges. Every challenge we
have faced has made us more resilient. This resilience is
vindicated by the outcomes we deliver.
4 10
Our FY22-23 operational and financial results are as much Lastly, on the partnership front, we continue to attract
a testimony to our success as a testimony to the continued We are set to play a critical role in India’s Net Zero
global investment partners aligned with our long-term
expansion of our customer base – be it on the B2B side carbon footprint journey. The renewable energy
approach of building and operating world-class assets.
or the B2C side. Our Balance Sheet, our assets, and our business, Adani Green Energy Limited, commissioned
In March 2023, we successfully executed a secondary
operating cashflows continue to get stronger and are now the world’s largest hybrid solar-wind project of
transaction with GQG partners of US$1.87 billion
healthier than ever before. The pace at which we have 2.14 GW in Rajasthan; the operational renewable
made acquisitions and turned them around is unmatched despite volatile market conditions.
energy portfolio grew 49% to over 8 GW, the largest
across the national landscape and has fuelled a significant operational renewable portfolio in India.
part of our expansion. Our national and international
partnerships are proof of our governance standards. The
scale of our international expansions has been validated
by our successes in Australia, Israel,Bangladesh, and
Sri Lanka.

Managing Director’s Message Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Achieving Milestones
in Sustainability
Profitability is the cornerstone of our sustainability a sustainable future and making tangible contributions to
ethos. Our impressive track record over the past two and environmental conservation.
a half decades stands as evidence of the sustainable
By implementing sustainable practices, we aim to lead by
growth of our enterprises. In the reporting period, we
example and inspire positive change in the industry. Our
We implement sustainable achieved remarkable milestones, with our total income at
vision includes maximising renewable energy penetration
C 1,38,175 crore and EBITDA reaching C 10,025 crore, while
practices to inspire positive we recorded an attributable PAT of C 2,473 crore. These
in our operations, promoting biodiversity conservation in
our project areas and actively engaging with stakeholders
change, maximise renewable financial accomplishments exemplify our dedication to
to raise awareness about environmental preservation.
driving both prosperity and sustainability.
energy use, conserve Through these initiatives, we are determined to create a
We have adopted an integrated approach that lasting impact on the environment, contributing to global
biodiversity, and raise seamlessly blends Environmental, Social and Governance climate objectives and ensuring a sustainable future
awareness for environmental (ESG) principles to consistently deliver value to our for all.
esteemed stakeholders. We aspire to be industry
preservation, ensuring a leaders through the implementation of robust systems,
The backbone of our transformative journey lies in
our dedicated and talented workforce. Within our
sustainable future. processes, and policies that underpin our relentless
sustainability framework, the well-being and safety of
pursuit of a sustainable future. The charter of our
our employees occupy a paramount position. We are
Corporate Responsibility Committee (CRC) has been
unequivocal in upholding human rights, cultivating a
augmented to oversee, deliberate and provide guidance
diverse and inclusive work environment that offers equal
on sustainability-oriented ventures, initiatives, and
opportunities to all. Our resolute dedication to talent
strategies. We whole-heartedly encourage our diverse
management is embodied by our pursuit of “zero harm”
business verticals to incorporate a comprehensive ESG
operations, ensuring that our actions positively impact
roadmap, underpinned by well-defined targets into
our people and their communities.
their strategy.
At the heart of our sustainability narrative lies the Adani
Environmental stewardship is a fundamental principle
Foundation, our philanthropic arm devoted to uplifting
that guides the Adani Group’s business operations. We
communities and fostering sustainable opportunities.
Dear Stakeholders, have established specific targets to drive sustainable
Our community development projects encompass a
growth and minimise our environmental footprint.
It brings me immense pleasure to present to you our It is through this symbiotic convergence that we fortify wide spectrum, from promoting sustainable livelihoods
Our climate readiness initiatives focus on key areas
Sustainability Report for FY 2022-23. In this report, we our commitment to nation-building and forge a path and enhancing health and nutrition to empowering
such as carbon offsetting, resource conservation and
have provided comprehensive information regarding toward collective prosperity that touches the lives women, advancing education, and spearheading rural
waste management.
our progress, initiatives and the significant impact we of millions. infrastructure development.
have made. This document serves as a testament to our To significantly reduce our carbon footprint, we
This report demonstrates our persistent commitment to
dedication to sustainability and our determination to are investing in renewable energy projects. In
becoming a world-class leader in business by adhering
drive positive change. We have outlined our goals and Remarkable Milestones in FY 2022-23 environmental stewardship, we are focussing on
to sustainability principles while simultaneously
strategies for the future, setting ambitious targets that responsible consumption and production to minimise
align with global sustainability frameworks. E1,38,175 crore our environmental and carbon footprint. Our initiatives
contributing to the noble cause of nation-building. We
express our sincere appreciation to every individual
Total Income focus on resource conservation, waste management,
Adani Enterprises Limited (AEL) remains steadfast in within the AEL family for their relentless dedication in
energy efficiency, usage of renewable energy, recycle
its mission to foster sustainability across all dimensions constructing a sustainable enterprise that drives India
of our expansive business realm. We are catalysts for E10,025 crore of wastewater, afforestation and many others. Our
initiatives have led to reduction of water, energy usage
towards a more vibrant and robust future.
transformation, investing in climate-resilient services EBITDA and emission intensity. Waste management is also a Warmest regards,
and spearheading the transition towards a greener,
priority, as we implement comprehensive recycling
more sustainable energy landscape. At first glance,
our ventures may appear diverse, spanning industries E2,473 crore programmes and responsible waste disposal practices, Mr. Rajesh S. Adani
PAT attributable to owners aiming to divert disposal of waste to landfills. Through Managing Director
such as Airports, Natural Resources, Data Center,
these specific initiatives, we are actively working towards
Solar Manufacturing, Roads and Water, Defence and
Aerospace. However, they are all interconnected through E17.75 crore
our core tenet “adjacency” to infrastructure, the vital Contribution to CSR projects
lifeline of a nation’s progress and prosperity.

ESG Head’s Message Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Giving Back
and Driving Progress
Through the adoption of green energy sources, the use
of electric vehicles for airport mobility, the installation of Data Center to be
EV charging stations, and the exploration of sustainable
aviation fuel alternatives, we are paving the way for a Operational Net Zero
At AEL, our ESG strategy not greener aviation industry. by 2030
only align with our core values The initiatives have resulted in impressive performance
and business strategy but in reducing water, energy, and emission intensity, while Airports to be
also avoiding waste disposal in landfills and contributing
also position us as a catalyst to increased green cover.
Operational Net Zero
for a more sustainable and While the coal mining industry faces increasing scrutiny
by 2030
due to its environmental impact, we must recognise that
equitable future. it plays a significant role in powering various industries
Through our CSR projects, we have significantly
and supporting economic development worldwide. As we
expanded our community outreach with a total
move towards a sustainable future, it is crucial to strike
expenditure of C 17.75 crore in FY 2022-23.
a balance between addressing environmental concerns
and meeting the current energy demands. Given the Transparent governance is fundamental to our ESG
critical role of coal to India’s electricity generation today strategy. We uphold ethical business practices, adhere to
and for at least the next two decades and beyond, AEL all applicable laws and regulations, and regularly assess
pioneered the Mine Developer and Operator model to and improve our environmental and social performance.
provide end-to-end mining solutions to state-owned Additionally, we maintain clear communication with
power utilities. investors, stakeholders, and the public about our ESG
efforts, progress, and challenges.
The Group’s execution capability and scale allows it
to adopt globally leading best practice in sustainable Inspired by our Chairman’s visionary perspective, we are
mining and work towards decarbonisation by sourcing driving India’s transition from an importer of fossil fuel
renewable electricity, electrification of operations and energy to a leading global exporter of clean energy. Our
adopting green hydrogen in heavy mining machinery journey towards sustainability is dedicated to creating
where electrification is not possible. a cleaner and greener future for our nation, and our
commitment remains resolute.
The well-being of our employees and the communities
Dear Stakeholders, in which we operate remains a top priority. We are
Mr. Vivek Panda
committed to maintaining high standards of safety,
In a world influenced by climate change and the global of sustainability. At AEL, our ESG strategy not only align Head-ESG
ensuring fair labour practices, and fostering positive
pandemic, the urgency to adopt sustainable practices with our core values and business strategy but also relationships with local communities. We engage in open
has grown. The geopolitical landscape emphasises the position us as a catalyst for a more sustainable and dialogue, seeking feedback from stakeholders to address
need for a greener energy system with sustainability equitable future. concerns, provide employment opportunities, and
at the forefront of our collective efforts to combat
We have created a complete ecosystem for solar contribute to the social development of these regions.
climate change.
module manufacturing and wind energy. A remarkable
At Adani Enterprises Limited, we are incubating testament to our dedication to energy transition is the
tomorrow’s businesses aligned with our larger vision establishment of AEL’s New Energy Ecosystem business.
of nation building through sustainable value creation. This spearheads our efforts in developing innovative
Sustainability drives every aspect of our operations, energy solutions, including green hydrogen and its
permeating each business vertical and the entire value associated value chain to decarbonise industries and
chain. Each of AEL businesses aims to lead their sector mobility. We stand at the forefront of revolutionising
by embracing viable and sustainable solutions to address the aviation sector by transforming our airports into
climate change. The synergies among our businesses environment-friendly hubs.
further strengthen our commitment to a resilient path

ESG Targets and Performance Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Progressing on
Our Ambitions
Our commitment to sustainability drives us to regularly review and optimise our strategies and targets, using
well-defined metrics to measure our impact accurately. We seek positive change, aspiring to build a more
equitable future for all.
Environment Social Governance

Target for Target for Achievements Target for Target for Achievements Target for Target for Achievements
FY 2024-25 FY 2022-23 in FY 2022-23 FY 2024-25 FY 2022-23 in FY 2022-23 FY 2024-25 FY 2022-23 in FY 2022-23
Reduction in energy intensity* Human Rights training Board of Directors’ training on ESG
(% of employees covered)
25% 10% 26% 100% 100% 100%

80% 70% 72.21%
Reduction in emissions intensity* No of incidents of ethics and integrity
25% 10% 55% Annual Safety Assessment

(% of our plants and offices assessed)
Zero Zero 100%
Increase in percentage of renewable No of incidents of sexual harassment
energy in the total energy mix 100% 100% 100%
Zero Zero 100%
20% 10% 13%
Procurement from MSME No. of instances of corruption,
Water consumption intensity* and local suppliers bribery, or anticompetitive behaviour
15% 10% 28% 40% 20% 35% Zero Zero 100%

Waste Management:
No. of complaints of data privacy and cyber security
(% diverted from going to landfill through reuse, recycling
and other recovery initiatives)
Zero Zero 100%
85% 80% 82%
Afforestation
(No. of trees planted)
16,04,885 13,00,000 13,02,817

Note: This reporting year, we have expanded our operational businesses from three to six, leading to a notable *Energy, emission, and water intensity, calculated per rupee of turnover.
increase in turnover. Consequently, we have observed a significant reduction in energy, emission, and water
intensity, reflecting our commitment to sustainability and resource efficiency.

AEL
at A Glance
We are a leading business

incubator, focusing on nurturing
new ventures, aiming to
shape industry leaders. Our
startup spirit blended with
competitiveness has laid a strong
foundation for enduring success.
We invest in national growth,
particularly in infrastructure, to
enrich stakeholders and advance
our nation sustainably.
In this section
18 Who We Are
20 Business Portfolio
26 Geographical Presence
28 Milestones

Who We Are Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Incubating Success
As one of India’s largest businesses, Building a Better Tomorrow through
we at Adani Enterprises Limited have a Robust Incubation Portfolio
dedicated ourselves to specialising
in incubating businesses venturing Vision AEL portfolio
into new areas, with the goal of To be a world class leader in
creating industry leaders and sectoral
transformers. businesses that enrich lives and Energy & Transport & Consumer
Primary industry
contribute to nations in building utility logistics businesses
infrastructure through sustainable
Over the past three decades, we have seamlessly
blended the spirit of a startup with the value creation. New industries
competitiveness of a mature organisation, laying (end-to-end Airports Food FMCG Mining Industrials
the foundation for a modern and enduring business. green H2 chain)
Our investments in various businesses have not
only helped bridge national gaps but also catalysed Mining services
nation-building efforts. Data centre Roads Digital PVC
& IRM
One of our key strengths lies in building large, Values
relevant, and competitive infrastructure assets, which Commercial
have significantly enhanced value for all stakeholders. Trust: We shall believe in our Water
mining
Copper
Our singular objective is to create robust and
profitable businesses that enhance shareholder value
employees and other stakeholders.
following the demerger and listing process. Courage: We shall embrace new ideas Specialised
manufacturing
As we move forward, AEL remains committed and businesses.
to developing infrastructure in crucial sectors
such as Airports, Roads and Water, Data Centers, Commitment: We shall stand by
and Solar Manufacturing. With a commitment to
fostering economic, social, environmental, and
our promises and adhere to high
technological advancement, our aim is to align standards of business for Operational Businesses New Businesses
ourselves with the vision of building a progressive and
sustainable nation.
a sustainable future. • Natural Resources • New Energy Ecosystem
• New Industries Ecosystem (Solar Manufacturing) • Copper
• Airports • Digital Labs
• Data Center • Polyvinyl Chloride (PVC) business
• Roads and Water
• Defence and Aerospace
Culture
Passion Results Integration
Performing with Consistently Working across
enthusiasm achieving goals functions and
and energy businesses to
create synergies
Dedication Entrepreneurship
Working with Seizing new
commitment in opportunities with
the pursuit of initiatives and
our aims ownership

Business Portfolio Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Operational Businesses
Natural Resources Solar Manufacturing Airports

India’s Largest Private Mine Developer India’s First and Largest Vertically Integrated Turning India’s Transit Gateways into World-
and Operator, and Integrated Resource Solar Module Manufacturing Company Class Destinations
Management Player Our Solar Manufacturing business operates through two The Adani Group forayed into the airports sector in
Our Natural Resources business comprises of Mining entities namely, Mundra Solar PV Limited (MSPVL) and 2019 in line with our Group’s vision of becoming a
We have made significant progress in Services, Integrated Resource Management (IRM) and Mundra Solar Energy Limited (MSEL). With inception globally admired leader in integrated infrastructure
reducing our carbon footprint through the Commercial Mining . The Commercial Mining operation in in 2017, the business has consistently been India’s first and transportation business. Adani Airport Holdings
implementation of advanced technologies India is yet to start. In the IRM segment, we offer end- largest and most trusted vertically integrated solar Limited (AAHL) was incubated within the Group’s flagship
and the utilisation of alternative energy to-end procurement and logistics services, including PV cells and modules manufacturer with capacity company and won the mandate to modernise and operate
sourcing resources, sea-borne logistics, holding facilities steadily increasing from 1.2 GW to 1.4 GW in 2019, 2 GW six airports—Ahmedabad, Lucknow, Mangaluru, Jaipur,
sources. Our commitment to land restoration at discharge ports, and delivering coal, commodities, in 2021 and 4 GW in 2022. The business also has its Guwahati, and Thiruvananthapuram through a globally
and the conservation of biodiversity in power and other products to customers through door-to- own Research and Development (R&D) Centre within competitive tendering process conducted by the Airports
mining areas has led to sustainable practices door delivery. the Electronic Manufacturing Cluster (EMC) facility Authority of India (AAI). We have been granted the right
and the rehabilitation and resettlement of at Mundra. to operate, manage, and develop all these airports for
The Mining Services business was started as the link
a period of 50 years. We have taken over management
communities. Compliance with statutory in ensuring energy security for India. It has emerged The business is building the world’s 1st ever Fully
control of Mumbai International Airport Limited (MIAL),
and other regulations remains our top as a responsible player in India’s coal mining industry, Integrated and Comprehensive Ecosystem of Solar PV
which is India’s second busiest airport by both passenger
operating as one of the largest developers and operators Manufacturing, with ultimate objective of producing
priority, contributing to the improvement of of coal mines. Our integrated business model involves world’s low-cost green hydrogen at Mundra. This year,
and cargo traffic.
our ESG score. We actively engage with local developing mines and overseeing the entire upstream and we have become the first Indian company to start the The business’ seven operational airports account for 23%
communities and the ecosystem, aiming downstream activities related to coal supply. Over the backward integration beyond solar cell manufacturing, of the total air traffic in India and control over 50% of the
to foster inclusive growth and promote years, we have evolved from a coal trading and importing by starting the pilot for Ingot and Wafer slicing lines. This nation’s top domestic routes. The business envisions the
Company to a comprehensive IRM enterprise. pilot line is a part of a planned 2 GW Wafer manufacturing redefining of the city-airport relationship, building shared
regenerative practices in mining. Our focus setup that Adani Solar will soon dedicate to the facilities that cater to the ever evolving global travel, life
on eco-innovation, resource conservation, Our global presence includes operations in Indonesia
country—the first such attempt in India. and work requirements.
and Australia, while also bridging the supply-demand
and sustainable stakeholder partnerships gap through ethical mining practices and imports from
has paved the way for a highly rewarding various countries. 4GW 74.8 million
journey of sustainable and inclusive growth, Solar Module Total passengers handled across
harmonising with nature.
29.7 MMT 88.2 MMT Manufacturing Capacity seven operational airports
Mining Services IRM volume,

Dr. Satish Sinha production volume, FY 2022-23
Head Sustainability & FY 2022-23
Compliance, Natural Resource

Operational Businesses
Data Center Roads and Water Defence and Aerospace

To meet the growing demand for high-quality and In 2018, we entered the Roads and Water sectors, Transforming India into a World-Class
reliable IT infrastructure, we have formed a joint venture aiming to contribute to the growth of national highways, High-Tech Defence Manufacturing Hub
with EdgeConneX called ‘AdaniConneX’. This strategic expressways, tunnels, and water infrastructure in the Defence and Aerospace, in collaboration with the
partnership combines our infrastructure expertise country. With a rapidly expanding presence, our portfolio Defence Research and Development Organisation
with EdgeConneX’s data center acumen, enabling us now consists of 14 road projects, covering over 5,000 (DRDO), is India’s leading private sector entity in the
We have made remarkable progress in lane km across 10 Indian states. In the water sector,
to develop a portfolio of data centers throughout the development of missiles and precision systems. We are
reducing our carbon footprint through country. These data centers, ranging from hyperscale our Group has taken an initial step by securing the the sole Indian private sector Company supplying small
renewable energy projects, implementing to hyperlocal, will predominantly rely on renewable prestigious wastewater treatment, recycle, and reuse arms to security forces. Leveraging the Adani Group’s
energy sources. project at Prayagraj and Bhagalpur under ‘Namami Gange’ core strengths, we excel in delivering large and complex
effective waste management and
project. Additionally, the Group will explore opportunities projects of national importance. By aligning with the
recycling practices, and prioritising Our first data center in Chennai is now operational and in the desalination water space. national security agenda, Defence and Aerospace
water conservation. Our commitment to the Noida and Hyderabad centers will be operational
focuses on technologies and platforms essential for
soon. With an expertise in resource management,
biodiversity conservation has also resulted India’s strategic requirements and the future of warfare.
renewable power, and infrastructure projects, our
in the creation of green spaces that joint venture aims to provide sustainable data center E10,238 crore Our defence portfolio prioritises intelligence,
support local ecosystems. As we continue solutions. Our goal is to establish a 1 GW capacity data Financial closure achieved for India’s largest surveillance, and reconnaissance capabilities across
our sustainability journey, we remain center by 2030. greenfield Ganga Expressway project land, air, and naval borders. We have also introduced
a world class unmanned aerial system for the Indian
dedicated to reducing carbon emissions,
armed forces. This involves investing in next-generation
promoting energy efficiency, and engaging
284.1 km
technologies in the unmanned, cyber, and satellite space.
stakeholders for a greener aviation industry. To foster self-reliance, we have developed an ecosystem
Lanes constructed across four of Indian suppliers to develop unmanned systems within
road projects in FY 2022-23 the country. We are committed to investing in critical
Mr. Pankaj Singh
technologies and platforms, building manufacturing
Sr. Vice President & Head - ESG and Business competence at the sub-system and component levels.
Excellence, Airport Business With a workforce driven by an export-oriented mindset,
we adhere to globally accepted processes, workflows,
quality management, and zero defect on-time delivery.
Introduced a world-
class unmanned aerial
system for the Indian
armed forces

New Businesses
Industry Associations
We are associated with some of the reputed bodies
such as:
Sr.
no Association Name Reach (State/National)
1 Gujarat Chamber of Commerce State

and Industry (GCCI)
2 Federation of Indian Chambers of National

Commerce & Industry (FICCI)
New Energy Ecosystem Adani Digital Labs PVC 3 Federation of Indian Mineral National
Industries (FIMI)
Our New Energy Ecosystem aims to provides an end-to- One of our pioneering initiatives, Adani Digital Labs (ADL), The demand for PVC is expected to grow at a CAGR
end energy supply chain solution and develop a large is set to emerge as our digital arrowhead. ADL is expected of 8-10% from fiscals 2023 to 2027. This growth can
4 Federation of Indian Export National
integrated platform that produces affordable green to connect various businesses and functions within be attributed to increased infrastructure spending, Organisations (FIEO)
hydrogen. We will undertake green hydrogen projects the Adani Group, leveraging on innovative technologies government initiatives, and various sectors such as
and manufacture key components for renewable and investing in the future. It will serve as the universal agriculture (expansion of irrigated land), infrastructure 5 Confederation of Indian Industry National
energy generation such as solar cells cum modules, consumer-facing interface for all our operations. (water supply and sanitation), housing (emphasis (CII)
wind turbines, electrolysers, batteries, fuel cells, and on affordable housing), and other segments like
associated upstream and downstream products. pharmaceutical and packaging. 6 Chemicals and Petrochemicals National
Manufacturers’ Association
Despite the anticipated increase in domestic production (CPMA)
capacity, imports are still expected to meet approximately
50% of the overall demand. Reliance on high levels of 7 Indian Chamber of Commerce National
imports is generally unsustainable due to geopolitical (ICC)
uncertainties and the risk of dumping by various nations.
Hence it is imperative to ramp up domestic production. 8 The Associated Chambers of National
Commerce & Industry of India
In line with this objective, we will utilise the resources
(ASSOCHAM)
available at the Adani Group’s Mundra SEZ to establish and
operationalise the first phase of the PVC project with a 9 Hydrogen Council International
capacity of up to 2 MMTPA.
10 Green Hydrogen Organization International
AEL’ Products and Services
The operational AEL businesses offer following products
and services:
AEL Businesses Products and Services
Kutch Copper Ltd. Natural Resources Mine development and operations

and end-to-end procurement and
To meet the growing demand for copper products, we are logistics services of coal, power, and
establishing a copper manufacturing facility that will also commodities
produce copper by-products, precious metals (gold and Solar Manufacturing Solar cell and module manufacturing
silver), and sulphuric acid, which can be partly converted Airports Construction, operations, and
into phosphoric acid. This venture has opened up several maintenance
Data Center Data centers
downstream opportunities for us. Our aim is to emerge
Roads and Water Construction, operations and
as the largest single-location copper smelting complex in
maintenance of road assets and
the world by 2030. wastewater treatment plants
Defence and Aerospace Unmanned aerial systems, small arms,
missiles, and precision systems

Geographical Presence Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Natural Resources
Type of Type (Domestic/

Mine Airports
project International)
Parsa East Kente Basen
Ahmedabad International
Gare Pelma III
Ladakh Talabira II & III Mumbai and Navi Mumbai International
Mining Suliyari Lucknow International
Jammu &
Kashmir Services - Coal Parsa
Mangaluru International
Kente Extension
Himachal Gare Pelma II Jaipur International
Pradesh
Pelma Guwahati International
Punjab Gondulpara
Thiruvananthapuram International
Dhirauli
Haryana
Bijahan
Gondbahera Ujheni East Solar Data Defence
Arunachal Commercial Manufacturing Center and Aerospace
Pradesh Jhigador
Sikkim mining*
Khargaon Hyderabad,
Mundra, Kutch, Gujarat Chennai
Rajasthan Uttar Pradesh North- West of Madheri Bangalore, Gwalior
Assam
Bihar
Nagaland Purunga
Meghalaya Gondbahera Ujheni Markets Served
Manipur
Mining Kurmitar
Services -
Locations Number
Jharkhand Tripura Bailadila Deposit 13*
Gujarat
Madhya Pradesh
Mizoram Iron Ore National (No. of states) 16
West
Bengal *(Under development)
International (No. of countries) 7
Chattisgarh
Roads and Water
Odisha
Maharastra Project State

International Airports
Bilaspur Pathrapali Road Project Chhattisgarh
Telengana Roads and Water Suryapet Khammam Road Project Telangana
Mancherial Repallewada Road Project Telangana
Water Projects
Vijayawada Bypass Road Project Andhra Pradesh
Nanasa Pidgaon Road Project Madhya Pradesh
Karnataka
Andhra Solar
Pradesh
Azhiyur Vengalam Road Project Kerala
Headquarters Kodad Khammam Road Project Telangana
Badakumari Karki Road Project Odisha
Coal Mining Panagarh Palsit Road Project West Bengal
Tamil Nadu
Kagal Satara Road Project Maharashtra
Iron-ore Mining
Budaun Hardoi Road Project Uttar Pradesh
Kerala
Unnao Prayagraj Project Uttar Pradesh
Commercial Mining
(Under development) PRS Tolls Road Project Gujarat
Prayagraj Sewage Treatment Plant Uttar Pradesh
Data Center
Bhagalpur Sewage Treatment Plant Bihar
Defence and Aerospace

Milestones Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
1988 1994 1995 1996

Started • Listed on BSE and NSE @ `150 Mundra Port Bonus Issue 1:1
commodity trading • Shares subscribed 25x commenced operations
GAS
2006 2005 2001 1999

Stock-split of AEL Awarded India’s Started city gas • Commencement of IRM business
(10:1) first MDO Contract distribution business • Signed JV with
Wilmar, Singapore
• Bonus Issue 1:1
2007 2008 2009 2010

• Adani Ports and SEZ Limited IPO Acquired Bunyu • Adani Power Limited • Raised QIP of US$850 million
subscribed 116x Mine, Indonesia IPO subscribed 21x • Acquired the Carmichael
• FCCB issue of US$ 250 million • Bonus Issue 1:1 mine Australia
• Green Silo Depot commissioned
(seven locations)
2019 2018 2017 2015

Emerged #2 largest IRM • Demerger of Adani Green Started manufacturing Completed the demerger
player in the world Energy and Adani Gas Solar PV panels of APSEZ, APL and ATL
• Fortune emerged largest
food FMCG brand in India
2020 2021 2022 2023

Forayed into Airports • Data Center JV “Adani • Acquired 23.5% stake in • Completed acquisition • First Data Center commissioned • Launched “Adani One” app
business with a Connex” with EdgeConnex India’s leading airports - of Mumbai and Navi at Chennai for consumers
portfolio of 6 airports to develop and operate Mumbai Airport Mumbai Airports • Completed Acquision of NDTV
Data Centers across India • Adani Wilmar Limited IPO by media arm AMG Media
subscribed 17x

Sustainability
Strategy
Our business strongly aligns with
ESG principles, prioritising the
environment and society, guided
by 5Ps—People, Planet, Prosperity,
Peace, and Partnerships. These
values steer our sustainable
actions, addressing global issues
and ensuring business success.
In this section
32 Sustainability Approach
34 Stakeholder engagement
36 Materiality Assessment

Sustainability Approach Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Driving Responsible
Business Practices Strategic Path Towards Sustainable Success
The 5Ps—People, Planet, Prosperity, Peace, and Partnerships—are the foundation of our core values and strategic
ESG principles have taken centre stage in today’s economy, as they priorities for sustainable development. We continuously strive to prioritise and uphold these principles in all aspects
of our operations, demonstrating our unwavering commitment to their significance.
characterise responsible business conduct. Adhering to ESG principles
enables stakeholders to understand how an organisation manages risks These levers have been carefully selected in recognition of ongoing global issues. They serve as our guiding compass,
guiding us towards a fully sustainable business while effectively managing ESG risks and seizing opportunities.
and opportunities associated with business sustainability. Increasingly, Moreover, we implement definite, policy-driven actions under these levers to advance our sustainable development plan.
investors recognise that businesses performing well on ESG criteria
demonstrate resilience, preparedness to tackle uncertainties, and
maintain a social license to operate. At AEL, we identify critical ESG
topics through rigorous material assessment, prioritising and incubating People Key Actions
We strive to make sure that our business • Policy driven approach
environmental stewardship, social impact, and robust governance practices are guided by the finest people • Zero harm culture
structures. Our commitment to sustainable growth and responsible practices and the highest standards of • Holistic learning, growth, and development
business practices is crucial for the long-term success of our businesses. human rights. • Continuous employee engagement
• Rewards and recognition
• Investing in skills for future
Key Priorities Prosperity Key Actions

We will keep enhancing stakeholder • Economic value creation for our shareholders
1. Promote our status as the premier incubating 6. Chart out our businesses’ decarbonisation pathways
value and leveraging our Company as a • Investments contributing to long-term value
business focusing on New Energy Ecosystem
7. Identify, establish, and develop talent at all levels force for good. and a prosperous society
2. Ensure that green field initiatives are implemented • Generating products and services that
8. Make a constant attempt to achieve zero injury and
efficiently and competitively support sustainability
zero incident rates
3. Embedding sustainability into our Company’s
9. Make optimal use of our products’ total life cycle for
business plan
customers, consumers, and society
Planet Key Actions
While generating profit for our shareholders • Projects aligned with India’s Climate Change
4. Determine sustainable alternatives for essential raw
10. Follow ethical business practices and our stakeholders, we will incubate and (NDC) Commitments
materials and energy and safeguard them
create businesses that are well-positioned to • Adopting innovative green technology
11. Contribute to the community
5. Sustain and intensify efforts to eliminate or minimise help the transition to a lower carbon future • Investing in green transition including green hydrogen
development programmes
waste production, freshwater usage, energy use, and and are in line with the aspirations of the Paris and its value chain
Greenhouse Gas (GHG) emissions Agreement goals. • Sustainable mining practices
• ‘No net loss’ approach in conserving biodiversity
• Aligning with the recommendations of the Task Force
on Climate-related Financial Disclosures (TCFD)
Peace Key Enablers

We shall successfully contribute to • Commitment to the United Nations Sustainable
making sure that our purpose-driven lives Development Goals (UN SDGs)
benefit society as a whole. • Robust conflict management system
and procedures
• Robust community development
Partnerships Key Enablers

To accelerate the pace of our sustainable • Technology and knowledge partnerships with
growth, we will strategically collaborate thought leaders in respective industries
with organisations and communities.

Approach to Stakeholder Engagement Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Engaging in Meaningful
Dialogues The Way We Engage
Stakeholders Significance Mode of Engagement Frequency Key Expectations
Achieving our strategic objectives relies on the crucial We recognise the importance of engaging with Employees Key to the success of our business; • Employee engagement survey Continuous • Training and skill development
their efforts are instrumental in • Town hall meetings • Employee well-being
practice of effective stakeholder engagement. It stakeholders to build strong relationships and addressing
delivering our strategies and for • Performance appraisal reviews • Health and safety
enables us to comprehend stakeholder expectations, their concerns. Throughout the year, we maintain sustained business growth
• Training programme • Career growth
address their concerns, and prioritise our key areas regular communication with stakeholders through • Intranet portal, in- • Safe working conditions
of focus. This ensures that our efforts align with the various channels, gathering valuable insights that house newsletters • Working hours
needs and aspirations of those we serve, driving our inform our strategy and operational processes. Our • Rewards and • Fair wages
success. Engaging with stakeholders gives us the stakeholder engagement strategy includes mechanisms recognition programme • Rewards and recognition
• Grievance redressal mechanism • Transparent communication
chance to comprehend their issues and then help us to for feedback and grievance redressal, ensuring that
• Employee well-being programmes • Amenities provision
address them. Our stakeholder engagement is guided their voices are heard and concerns are addressed. Our • HR interactions • Policies, compensation, facilities
by a Group-level policy that aligns with international stakeholder groups mainly include investors, employees,
Investors & Providers of financial capital • Annual General Meeting (AGM) As required • Sustainable growth and returns
best practices, serving as the framework for our clients, vendors, regulators, media, trade groups, local Shareholders essential to fund growth • Quarterly/annual results • EPS, dividend, profitability
engagement mechanism. communities, non‑governmental organisations (NGOs), • ESG Reports and disclosures • Risk management
and peer companies. Our approach involves prioritising • Investor roadshows, events • Corporate governance, policies
Our stakeholder involvement process follows
communication with these groups and gathering • Website information • Better disclosures, transparency,
a well‑defined and comprehensive closed-loop • Official press releases and credibility of financials
feedback to understand their requirements. The input
methodology. Our businesses identify stakeholders • Emails
of stakeholders is highly valued as their concerns,
directly or indirectly impacted by our activities, those • Periodic meetings including
expectations, and ambitions shape our materiality one-on-one or group meetings
with an interest in our operations, and those who may be
evaluation and guide the development of our corporate Government Ensures compliance and business • Advocacy through trade and As required • Compliance to laws
affected by them. We have also identified representative & Regulatory continuity in line with regulatory industry associations and regulations
objectives. We strive to identify actual and perceived
individuals who serve as vital channels for the Bodies obligations as well as changing • Meetings, formal dialogues • Tax and royalties
impacts on each stakeholder group and tailor our policies
information exchange. • Stakeholder forums • Pollution prevention
engagement plan accordingly.
• Annual Reports • Local economic growth and
• Telephonic communication community development
• Video conferences • Transparent disclosures (Annual
Report, BRSR, etc.)
Stakeholder Engagement Plan Customers Drives the market segments
•
•
Emails
Emails and meetings Continuous • Service quality
• Customer feedback surveys • Timely delivery
• Business visits • Pricing
• Sales visits • Sustainable products
• Health and Safety
Community Conducive working environment • Community meetings Continuous • Welfare and empowerment of
ensuring social support, avoid • CSR programmes local communities
hostility, community agitations and • Public hearings
protests; create shared value
• Community impact
assessment surveys
Identifying Mapping stakeholders • CSR Reports
Suppliers Provide operational leverage to • Emails and meetings Continuous • Fair and long-term
our stakeholders on influence/interest grid optimise value chain, be cost business relations
• Contract negotiations
competitive, sustainable and exceed • Supplier evaluation/due diligence • Timely payment
customer satisfactions • Capacity building
• Seminars and conferences
• Transparency
Industry Develop network and enable • Events As required • Knowledge sharing

Associations consensus building to present a • Conferences and seminars • Compliance with industry
unified and mutually agreeable • Emails standards and regulations
perspective to the Government on
various policy interventions
Building a Use feedback

Media Medium to reach stakeholders to • Press releases As required • Knowledge sharing
communication plan to revise plan as needed communicate Company’s vision and • Interviews • Outlooks and announcements
initiatives and drive corporate equity • Emails and
telephonic communication
• Media events

Materiality Assessment Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Process to Identify
Material Topics
Materiality Matrix
Engagement with our internal and external stakeholders we incorporated insights from industry research, peer The materiality assessment matrix, with solid lines delineating the top right quadrant, represents the key material
on an ongoing basis is vital for identifying relevant reviews, and prominent ESG frameworks and ratings topics with the highest priority. We have identified 12 such topics that are deemed material to both our business
issues within our Company. It serves as an essential agencies requirements, including but not limited to the and stakeholders.
input for our management in determining material GRI Standards, UN SDGs, Sustainability Accounting
issues. By addressing these material issues, we develop Standards Board (SASB), Dow Jones Sustainability Index,
a stronger, more inclusive, and coherent sustainability and CDP.
Importance to Stakeholders
9
strategy that aligns with the needs and expectations of
Stakeholders ranked the topics on a four-point scale, 13 1 2
our stakeholders. 21 3
ranging from high to low priority. Using a rating
14 2 3 11 20
In the FY 2021-22, we conducted a detailed materiality methodology provided by the third-party service provider, 5 7 10 4 19
12
assessment exercise with the support of an external scoring was assigned based on stakeholder responses. 2 2 6 17
8
service provider. This exercise aimed to identify and The results of the materiality assessment exercise 15 16
analyse ESG risks that are material to our business and were reviewed by our senior management in terms of 18
have a potential significant impact. The identification relevance and adequacy. This process culminated in
of material topics involved an exhaustive stakeholder the finalisation of the list of critical material topics and
engagement survey with both internal and external their categorisation.
stakeholders. To ensure a comprehensive understanding, Importance to Business Aspects
Medium priority topics in the top right quadrant formed by dotted lines
Material Topics High priority topics in the top quadrant formed by solid lines
Key Drivers for Enhancing Enterprise Value*

Sr. Risk/ Business Strategy to Address
No. Material Issue Opportunity Rationale Impact Material Issue
1 Energy and Risk/ Considering India’s commitment We may face unexpected costs due • Energy
Environment Social Governance emissions opportunity to becoming Net Zero by 2070, to failure to anticipate and comply
efficient equipment
management stringent energy and emission with new requirements, leading to
1 Circular economy and 9 Health, safety, and well-being 19 Business ethics, integrity, related laws and regulations revenue loss • Use of renewable energy
waste management and transparency may be enacted
• Use of cleaner fuel
10 Human rights
2 Energy and emissions 20 Innovation and technology 2 Employee Risk Failure to ensure the health, Impact on business operations, Promote a safe workplace and
management 11 Community development health, safety, safety, and well-being of the customer satisfaction, prioritise the concept of zero
21 Governance and and well-being Company’s workforce can and profitability harm
3 Climate change adaptation 12 Customer satisfaction risk management impact productivity
and mitigation 3 Business Risk Ethical conduct, integrity, and Non-adherence can lead to legal fines • Zero-tolerance policy for
13 Training and development 22 Grievance ethics, transparent communication and penalties, financial forfeiture,
sexual harassment (POSH)
4 Regulatory compliance 14 Service/product quality redressal mechanisms integrity, and with stakeholders are integral to damage to brand reputation, loss of
transparency ensuring regulatory compliance business opportunities and valuation • Maintain highest level of
5 Water management and safety 23 Data privacy and security and building stakeholder trust business ethics
6 Air quality improvement 15 Sustainable supply chain *For further details on material topics, including the rationale for their selection and whether they are categorised as a risk or opportunity,
please refer to our Business Responsibility and Sustainability Report (BRSR). The Sustainability Report also provides in-depth discussions on
7 Environment disaster 16 Labour practices the material topics within their respective sections.
preparedness
17 Talent attraction
8 Land use and and retention Management of Material Topics have been established to effectively manage the material
biodiversity impact topics, and their performance is regularly reviewed. The
18 Diversity and inclusion We have a set of policies that serve as a guiding force
management of material topics is discussed in detail
to address all material topics. Each topic is evaluated
within the respective ESG sections.
based on whether it presents a risk or an opportunity,
and the actual and potential impacts it may have on the
Following the extensive materiality assessment conducted for FY 2021-22, we have continued with the same for
economy, environment, and people. Goals and targets
FY 2022-23.

Governance
Our business is grounded in
strong governance, a bedrock
for sustainable operations.
Our leadership is dedicated
to enhancing governance for
greater value creation and
lasting business operations.
In this section
40 Board of Directors
46 Governance and Ethics
48 Sustainability Governance
56 Risk Management
61 Awards and Recognitions
UN SDGs aligned

Governance Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Board of Directors
Mr. Gautam S. Adani Mr. Rajesh S. Adani Mr. Pranav V. Adani Mrs. Vijaylaxmi Joshi Mr. Narendra Mairpady Dr. Omkar Goswami
Executive Chairman Managing Director Director Independent & Independent & Independent and
Non-executive Director Non-executive Director Non‑executive Director
Board Metrics
Board Age Profile (%) Board Experience (%) Areas of Expertise

 Business Leadership
 Financial Expertise
22 22  Risk Management
 Global Experience
36-55 <30
 Corporate Governance & ESG
56-75 >30  Merger & Acquisition
 Technology & Innovation
78 (in years) (in years) 78
Dr. Vinay Prakash Mr. Hemant M. Nerurkar Mr. V. Subramanian
Executive Director Independent & Independent &
Non-executive Director Non-executive Director
56% 96.33% 11.44 years
Independent Directors Average attendance Average Board tenure
in Board and
Committee Meetings

Governance
Governance Overview AEL at a Glance Sustainability Approach Governance
Governance Environment Social Annexures
Board Committees II. Non-Statutory Committees Board Diversity • Skill and Expertise Diversity: We strive to have a Board
A. Corporate Responsibility Committee that encompasses a broad range of skills, expertise,
Effective governance at AEL is ensured through the We recognise the importance of Board diversity as a
B. Public Consumer Committee and industry knowledge. By having Directors with
crucial role played by the Board Committees. We have a fundamental aspect of good corporate governance. We
C. Information Technology and Data Security Committee diverse skills and expertise, such as finance, operations,
total of nine Committees, encompassing both statutory are committed to fostering a diverse and inclusive Board
D. Mergers & Acquisitions Committee (RMC’s sub-committee) legal, technology, and sustainability, our Company
and non-statutory functions. They oversee the resolution that reflects a wide range of perspectives, experiences,
E. Legal, Regulatory, and Tax Committee (RMC’s sub-committee) benefits from a comprehensive understanding of
of diverse issues and monitor the Company’s policies, and backgrounds. Our Board Diversity Policy has been
F. Reputation Risk Committee (RMC’s sub-committee) various sectors and perspectives.
processes, and practices. The formation of these formulated to capitalise on the advantages of a diverse
Committees follows a formal process approved by the G. Commodity Price Risk Committee (RMC’s sub-committee) Board, which also outlines and governs the nomination
Board and adheres to relevant regulations. and selection process for the Board. Board Industry Experience
The Corporate Governance Report in our Annual Report Board Independence Some Key Aspects of our Board Diversity are: Our Board members bring expertise from various
of FY 2022-23 provides comprehensive information on industries, and their insights play a crucial role in guiding
The Independent Directors have submitted the • Gender Diversity: We recognise the value of having
the Board-constituted Committees. This includes details our strategies. Here are some areas of expertise within
Declaration of Independence, affirming their continued diverse perspectives and experiences, including those
of Committees mandated by the Companies Act, 2013 our Board:
adherence to the independence criteria outlined in of women Directors, in decision-making processes and
and SEBI Listing Regulations, their specific roles and section 149 of the Companies Act, 2013 and Regulations • Strategic business leadership to achieve exponential
aim to promote gender diversity on our Board.
responsibilities outlined in their Terms of Reference. 16 of the Listing Regulations. These regulations stipulate growth in our operations.
The Report also offers information on their meeting • Race/Ethnicity/Nationality/Cultural Background: We
that companies must have at least one-third of the total • In-depth financial expertise to understand the flow of
schedules and proceedings. believe in promoting diversity within our boardroom.
number of Directors serving as Independent Directors, wealth within the Company.
We recognise the value of having Directors from
and our Company fully complies with this requirement.
I. Statutory Committees diverse backgrounds, including gender, race, • Holistic risk management capabilities to identify,
Importantly, there have been no changes that impact their
ethnicity, nationality, and cultural background. This assess, and mitigate potential risks across all aspects
A. Audit Committee status as Independent Directors within the Company. Our
diversity enables our Directors to bring a wide range of our business.
B. Nomination and Remuneration Committee Board consists of five Independent Board Members.
of perspectives, knowledge, and expertise to the • Extensive global experience to position us favourably
C. Stakeholders’ Relationship Committee
The profiles of the Independent Directors are included table, ultimately benefiting our Company’s business. in global markets, thus enabling us to capitalise on
D. Corporate Social Responsibility Committee
in the Corporate Governance Report, which provides By fostering an inclusive boardroom environment, we opportunities and effectively navigate challenges.
E. Risk Management Committee (RMC)
comprehensive information about their backgrounds. encourage the efficient and effective contribution
F. Securities Transfer Committee • Mergers and acquisitions expertise that empowers us
The Board believes that the Independent Directors of our Directors, ensuring a robust decision-
to make informed decisions on whether to build or buy,
are individuals of esteemed reputation, integrity, and making process that considers diverse viewpoints.
facilitating business expansion.
possess the necessary expertise and experience in their We understand that diversity drives innovation and
respective fields. enhances our ability to navigate the complexities of • Commitment to good corporate governance and
the global business landscape. ESG principles, demonstrating proficiency in
leveraging technology and fostering a culture of
innovation to optimise business efficiency and drive
continuous improvement.

For more details, read the Corporate Governance Report in our Annual Report available here.
Board Composition
The composition of the Board and the number of Directorships and Committee positions held by the Directors as on
31 March, 2023, are as under:
No. of other No. of Board Committees² (other than

Age & Date of Directorships held’ AEL) in which Chairman/ Member
Name, Designation & DIN of Director Appointment Category (Other than AEL) Chairman Member
Mr. Gautam S. Adani Executive Chairman 60 years, Promoter 6 - -
(DIN: 00006273) 02/03/1993 Executive
Mr. Rajesh S. Adani Managing Director 58 years, Promoter 5 - 2
(DIN: 00006322) 02/03/1993 Executive Board Effectiveness Board Remuneration
Mr. Pranav V. Adani Director (DIN: 44 years, Executive 7 1 1 We are committed to ensuring our Board operates The Board’s compensation is guided by the Remuneration
00008457) 31/03/2015
effectively, aligns with long-term goals, and acts in policy of Directors and is in accordance with the existing
Dr. Vinay Prakash Director 49 years, Executive 6 - -
(DIN: 03634648) 12/08/2017 stakeholders’ best interests. By focusing on strategic laws and regulations. The policy ensures the optimum level
Mr. Hemant M. Nerurkar Director (DIN: 74 years, Non-Executive 8 2 7 direction, risk management, financial performance, and composition of remuneration of the Directors.
00265887) 11/08/2015 (Independent) shareholder engagement, and sustainability, we create
For more details, read the Corporate Governance Report in
Mr. V. Subramanian Director 74 years, Non-Executive 1 - - sustainable value for shareholders. The Board oversees
22/08/2016 (Independent) our Annual Report available here.
(DIN: 00357727) strategy execution, assesses risk, and communicates
Mrs. Vijaylaxmi Joshi Director (DIN: 65 years Non-Executive 2 - 2 transparent financial information. We value open
00032055) 02/12/2016 (Independent) communication, adequate disclosure, and responsiveness CEO Compensation
Mr. Narendra Mairpady Director (DIN: 68 years, Non-Executive 9 3 4 to shareholder inquiries. We consider long-term value
00536905) 09/12/2017 (Independent)
Our Company has established financial returns and metrics
creation, manage environmental and social impacts to determine the fixed and variable compensation of the
Dr. Omkar Goswami Director (DIN: 66 years, Non-Executive 1 - 1
00004258) 03/11/2022 (Independent)
responsibly, and adhere to ethical practices. The Chief Executive Officer (CEO). The compensation structure
Board’s role includes considering long-term effects, comprises fixed components such as salary, perquisites,
Notes: optimising resource utilisation, and promoting an ethical allowances, and other elements, along with a variable
1. The Directorships held by the Directors, as mentioned above excludes alternate directorships, directorships in foreign companies, environment, including measures to prevent corruption
Companies under Section 8 of the Companies Act, 2013 and Private Limited Companies, which are not the subsidiaries of Public Limited component that is tied to the performance of the individual
Companies. and unethical practices. and the Company. The CEO’s of AEL’s individual businesses
2. Represents Membership / Chairmanship of two Committees viz. Audit Committee and Stakeholders’ Relationship Committee as per are responsible for achievement of the ESG Goals and
Regulation 26 of the SEBI Listing Regulations.
3. As on 31st March, 2023, none of the Directors of the Company were related to each other except Mr. Gautam S. Adani, Chairman and
Board Evaluation commitments of respective businesses. As part of the annual
performance evaluation the ESG linked performance is also
Mr. Rajesh S. Adani, Managing Director who are related to each other as brothers as per the provisions of the Companies Act, 2013. The Board adopted a formal mechanism for evaluating
discussed and reviewed.
its performance as well as that of its Committees and
individual Directors, including the Chairman. The exercise The ratio of CEO(MD) remuneration to median remuneration
Board Meetings was carried out through a structured evaluation process of employees for the reporting period is 48.21:1.
The Board of Directors met nine (9) times during the year. covering various aspects of the Board’s functioning such
For more details, read the Corporate Governance Report in
For more details, read the Corporate Governance Report in our Annual Report available here. as the Board’s composition and Committees, experience
our Annual Report available here.
and competencies, performance of specific duties and
Number of Board meetings held and obligations, contribution at the meetings and otherwise,
attended during FY 2022-23 Attended % of independent judgement, governance issues etc. Management Ownership
Name of Director(s) Held Attended Last AGM attendance
At the Board meeting that followed the above-mentioned Mr. Gautam S. Adani and Mr. Rajesh S. Adani (on behalf of
Mr. Gautam S. Adani 9 8 Yes 89%
Mr. Rajesh S. Adani 9 9 Yes 100% meeting of the Independent Directors, the performance S.B. Adani Family Trust) hold 59,13,33,492 Equity Shares
Mr. Pranav V. Adani 9 9 Yes 100% of the Board, its Committees, and individual Directors was of the Company. Mr. Gautam S. Adani and Mr. Rajesh S.
Dr. Vinay Prakash 9 7 Yes 78% also discussed. Performance evaluation of Independent Adani holds 1 (one) Equity Share each of the Company.
Mr. Hemant M. Nerurkar 9 9 Yes 100% Directors was done by the entire Board, excluding the Except above, none of the Directors of the Company hold
Mr. V. Subramanian 9 9 Yes 100% Independent Director being evaluated. equity shares of the Company in their individual capacity.
Mrs. Vijaylaxmi Joshi 9 9 Yes 100% The Company does not have any Employees’ Stock Option
Mr. Narendra Mairpady 9 9 Yes 100% Scheme and there is no separate provision for payment of
Dr. Omkar Goswami1 6 6 Not Applicable 100% severance fees.
1 Appointed as an Independent Director w.e.f. 3 November, 2022. For more details, read the Corporate Governance Report in
our Annual Report available here.
Governance and Ethics
Code of Conduct Whistle Blower Policy

The Board has established the Adani Code of Conduct Through our Whistle Blower Policy, we have established
for Directors and senior management, which outlines a vigil mechanism for our employees and Directors
the Company’s expectations for these individuals. The to report concerns regarding unethical and improper
Code requires them to uphold personal and professional activities. Each business has designated a vigilance and
integrity, honesty, and ethical conduct. It requires ethics officer who is responsible for receiving protected
Directors and senior management to act competently and disclosures from whistle-blowers. During FY 2022-23,
diligently, ensuring that their independent judgement we did not receive any complaints under the Whistle
is not compromised. This Code promotes a culture of Blower policy.
integrity and responsible leadership, fostering trust
among stakeholders.
ZERO
Conflict of Interest is a part of the Code of Conduct Complaints on sexual harassment,
policy. It states that the Board and senior management discrimination, child labour, forced
should not engage in situations where they may have labour, wages and human rights
a direct or indirect interest that conflicts, or could witnessed during FY 2022-23
possibly conflict with the Company’s interests. They are Our focus on corporate governance, transparency,
prohibited from seeking or obtaining any undue gain or
advantage for themselves, their relatives, partners, or Accountability and Transparency Grievance Redressal
and compliance has resulted in robust policies
& frameworks and monitoring mechanisms.
associates. If a Director is found guilty of gaining undue Our approach to corporate governance is centred around Stakeholder engagement has been crucial in
To provide our employees with a platform to voice
benefit, they are obliged to pay the Company an amount responsibly and transparently achieving our strategic understanding expectations and fostering long-
their concerns/grievances, we launched a confidential,
equal to the gain. goals, while remaining accountable to our stakeholders. term partnerships. Moving forward, we will
transparent, quick, and robust grievance management
We have implemented a robust corporate governance continue to enhance our sustainability initiatives
We have implemented several mechanisms to effectively system called ‘Speak Up’. It is a completely confidential
framework that considers the long-term interest of all by incorporating best governance practices
monitor and uphold our Code of Conduct. In the event of platform, allowing employees to raise concerns without
stakeholders and upholds the principles of integrity, and industry standards. I extend my gratitude
any breach, thorough investigations are conducted, and fear of negative repercussions. Speak Up enables real-
fairness, equity, transparency, accountability, and to our dedicated team for their commitment
necessary actions are taken to address and resolve the time reporting of grievances, and employees can raise
commitment to values. and contributions.
breaches. Any suspected violations should be promptly their concerns online. A Grievance Redressal Committee
reported to either the Chairman of the Board or the We have formulated an Anti-corruption and Anti-bribery is responsible for resolving the grievances within a
Chairman of the Audit Committee. All reported violations policy comprising guidelines against unethical practices. specified timeframe. Mr. Jatin Jalundhwala
are diligently investigated. These policies ensure compliance with prevailing Joint President (Legal) & Company Secretary
laws. We have a zero-tolerance policy towards bribery,
To ensure compliance with the Code, all Board members
corruption, and unethical practices, and we uphold
and senior management are required to affirm their
operational accountability and transparency. During
compliance on an annual basis. The Annual Compliance
the FY 2022-23, we did not encounter any instances of
Report is then submitted to the Company Secretary
for further review. Furthermore, the Company’s Annual
corruption, bribery, or anti-competitive behaviour.
Trainings for Board of Directors and KMPs
Report includes a declaration, signed by the Managing We are committed to continuous learning and growth for our Board. We actively support various training and
Director or CEO, affirming compliance with the Code. ZERO development programmes designed to enrich their skills, knowledge, and understanding of emerging trends, best
Cases of corruption, bribery or practices, and governance principles. These initiatives aim to equip them with the necessary tools and insights to
anticompetitive behaviour witnessed navigate and further enhance their knowledge and the business. During the year, the Board undertook ESG‑related
ZERO in FY 2022-23 training through an external agency.
Conflicts of interest and complaints

witnessed during FY 2022-23 Number of Training and %age of BoD Covered by Training
As a Company policy, we do not make donations to Awareness Programmes Held Topics/Principles Covered Impact of Trainings and Awareness Programmes
political parties for any political reasons, and no 01 ESG regulatory framework Improved understanding of ESG 100
contributions were made during the year. Emerging Trends in ESG principles and the role of BOD in
improving performance of entity
Role of Board of Directors in on ESG matrix
driving ESG

Sustainability Governance
Sustainability governance plays a crucial role in ensuring long- ESG Related Committees Corporate Social Responsibility Committee
term value creation and responsible business practices across our The following Board Committees are responsible for ESG-
At AEL, we have established a robust CSR philosophy
operations. By integrating sustainability into our ESG Governance related matters: These Committees consist of primarily
that is the cornerstone of our efforts to undertake and
support socially beneficial programmes that contribute to
Framework, we establish a robust structure that drives our independent Board members.
the welfare and sustainable development of the society.
decision-making processes, aligns our strategies, and shapes our Corporate Responsibility Committee We are committed to fulfilling our obligations as specified
behaviours. Through our commitment to sustainability governance, The Corporate Responsibility Committee (CRC), consisting in Schedule VII of the Companies Act and allocating the
we strive to be a responsible corporate citizen and a catalyst for of Independent Directors, assists the Board in fulfilling necessary CSR expenditure towards these initiatives.
positive change in the world. its responsibilities regarding our Company’s significant The CSR Committee was constituted in compliance
strategies, policies, and programmes related to social and with the applicable provisions of the Companies Act
Our ESG Governance philosophy is a three-tier process. public responsibility matters and sustainability aspects.
ESG Governance Framework We have framed and established several policies that The Committee oversees the development of appropriate
2013 and the SEBI (Listing Obligations and Disclosure
Requirements) Regulation, 2015, as amended from time
We have implemented a robust ESG Governance articulate the Company’s intent regarding ESG principles. policies and supporting measures, aligning them with the to time. This Committee reports to and is accountable
Framework to drive sustainability and maximise Committees, primarily consisting of independent Board UN SDGs 2030, and national and global ESG reporting to AEL’s Board. Its primary objective is to identify areas
opportunities while managing risks. This framework members, support the Board in fulfilling its responsibilities and rating disclosure standards. It reviews and directs for CSR activities, recommend expenditure allocation,
adheres to national and international guiding principles to oversee the implementation of the policies, strategies, the alignment of our Company’s actions and initiatives and implement and monitor the CSR policy on an
and encompasses ESG policies, as well as standards and programmes. They guide our Company in defining an with the UN SDGs. Furthermore, the Committee reviews ongoing basis.
for reporting and rating. It ensures transparency and ESG roadmap and reviewing performance across the ESG sustainability/ESG/Climate reports and other disclosures
accountability in our pursuit of sustainable practices. matrix. Additionally, an internal and external assurance such as ethical governance, environmental stewardship, Stakeholders’ Relationship Committee
process is followed to ensure the accuracy and reliability safety performance, water, and energy use, among The Stakeholders’ Relationship Committee is constituted
of the data disclosed on ESG metrics. others. It also oversees communications to stakeholders pursuant to and in accordance with the applicable
regarding ESG initiatives undertaken by our Company. provisions of Companies Act 2013 and the Securities
ESG Governance Philosophy
The Committee monitors our Company’s ESG ratings/ and Exchange Board of India (Listing Obligations and
Policies Committees scores from ESG rating agencies and the corresponding Disclosure Requirements) Regulation, 2015, as amended
improvement plans. Lastly, it provides assurance to the from time to time. The Committee reports to and is
• ESG Policy • Corporate Board regarding the various responsibilities it fulfils. accountable to, the Board of Directors (‘Board’) of Adani
• Environment Policy Responsibility Committee
Enterprises Limited (‘Company’). The objective of the
• Climate Change Policy • Risk Management Committee Risk Management Committee
• Energy Management Policy • Corporate Social Committee is to assist the Board with oversight of, inter-
E • Water Stewardship Policy Responsibility Committee
The primary objective of the Committee is to assist the alia, the effective and efficient servicing and protecting
Board in fulfilling its oversight responsibilities about the stakeholders’ interest including but not limited to
• Waste Management Policy (CSRC)
• Resource Conservation Policy the risk appetite of the Company, the risk management shareholders, debenture holders, other security holders
• Biodiversity Policy framework, and the governance structure that and rating agencies, regulators, customers.
supports it. This Committee reviews our Company’s risk
• Diversity, Equity and Inclusion Policy • Corporate governance structure, risk assessment (including ESG
• Human Rights Policy Responsibility Committee risks), risk management policies, practices, guidelines
• Occupational Health & Safety Policy • Corporate Social and procedures and the risk management plan. The
• Corporate Social Responsibility Policy Responsibility Committee Committee also oversees regulatory and policy risks
• Freedom of Association Policy • Stakeholder
S • Prevention of Sexual Harassment Relationship Committee
related to climate change, including review of State and
Central policies. The Committee obtains reasonable
• Stakeholder Engagement Policy • Risk Management Committee
• Employee Grievance assurance from management that all known and
Management Policy emerging risks have been identified, mitigated, and
• Supplier Code of Conduct managed. The Committee reports on its activities and
summarises any recommendations at the subsequent
Board meeting.
• Code of Conduct • Corporate Responsibility Committee (CRC)
• Board Diversity Policy • Corporate Social Responsibility Committee (CSRC) Read more on our Risk Management on page 56.
• Risk Management Policy • Stakeholder Relationship Committee (SRC)
G • Remuneration Policy • Audit Committee
• Cyber security and Data Privacy Policy • Nomination and Remuneration Committee
• Whistle Blower Policy • Risk Management Committee
• Anti-corruption and Anti-bribery Policy • Info Tech and Data Security Committee

ESG Related Policies

To further strengthen our responsibilities, we have framed policies that are in line with the ESG principles.
Social Policies
Environment Policies Stakeholders Groups
Policy Details Coverage Board Committees
Stakeholders Groups Board
Policy Details Coverage Committees Diversity The Diversity, Equity, and Inclusion (DEI) policy provides a strategic Employees,
Equity and framework for monitoring and improving the organisational capabilities investors and
ESG Policy We are committed to Green Growth with Goodness, prioritising Employees, investors and Inclusion to improve diverse representation and promote a more inclusive culture. shareholders
sustainability and ESG principles. Through the ESG policy, our focus shareholders, government Policy
is on compliance, sustainable practices, climate change mitigation, and regulatory bodies,
energy conservation, water management, human rights, employee customers, community, Human Rights Our approach includes adherence to corporate business policies and Employees,
development, customer satisfaction, corporate governance, and suppliers Policy compliance with applicable laws including internationally recognised suppliers
ethical conduct. human rights, as set out in the International Bill of Human Rights and the
International Labour Organisation declaration on Fundamental Principles
Environment We are committed to continuously improving our environmental Government and and Right at Work.
Policy performance by complying with all the applicable regulations and regulatory bodies,
go beyond compliance by ensuring responsible consumption of employees, investors and Occupational We strongly believe that Occupational Health & Safety (OHS) is an Employees,
resources and production of wastes and enriching biodiversity. shareholders, community, Health and essential aspect of our activities, policies, processes, and business suppliers, and
and suppliers Safety Policy operations. We are committed to providing a safe and healthy workplace communities
for our employees, relevant stakeholders, and nearby communities across
all operating locations.
Energy As an energy-intensive company, we are committed to continuously Investors and
Management improving the energy efficiency of our operational processes. This shareholders, government Corporate Our CSR policy highlights the importance of our Company’s relationship Communities
Policy policy provides the guidelines to continuously optimise energy use and regulatory bodies, Social with the communities we operate in. We believe that being a responsible
and promote usage of renewable, green and clean energy sources customers, employees, Responsibility corporate citizen involves contributing to social and environmental
to improve our sustainability performance. and suppliers Policy causes while maintaining the highest standards of corporate behaviour
towards its stakeholders. It is designed to bring about a positive impact in
Climate Change We are committed to managing climate change risks across our Government and Corporate Corporate
the lives of individuals.
Policy business operations and to develop strategies in line with global regulatory bodies, Responsibility Responsibility
best practice. This policy is in alignment with India’s need for cost- employees, investors Committee Freedom of Our Company respects the rights of all individuals employed or Employees Committee (CRC)
effective energy and infrastructure to meet the country’s economic and shareholders, and (CRC) Association associated with the Group through business interests, to the freedom of Risk Management
growth ambitions and climate commitments. suppliers Risk Policy association and the rights of collective bargaining without interference Committee (RMC)
Management and discrimination.
Corporate Social
Biodiversity This policy aims to establish a reference framework for integrating Employees, investors and Committee
Prevention This Policy aims to foster a workplace where all employees, particularly Employees Responsibility
Policy the protection and promotion of biodiversity into the business shareholders, government (RMC)
of Sexual women are treated with dignity and respect. It prohibits any form of Committee (CSRC)
strategy, and to define the principles of conduct for the and regulatory bodies, Corporate
Harassment unwelcome behaviour that may be interpreted as sexual harassment and Stakeholder
development of a business model that is sustainable and positive customers, community, Social
emphasises the avoidance of creating oppressive or hostile situations by Relationship
with nature. and suppliers Responsibility
exploiting sexual harassment. Committee (SRC)
Committee
Resources We emphasise the judicious use of natural resources through Suppliers, employees, (CSRC) Stakeholder We recognise our stakeholders as groups or individuals who can either Communities,
Conservation a strategic focus on resource conservation. The resource government and Engagement directly or indirectly influence or be impacted by our operations, employees, supply
Policy conservation policy provides an objective framework for regulatory bodies, Policy activities, changes in technology, regulations, market trends, and societal chain partners,
demonstrating, evaluating and improving procurement, community, investors trends. We are committed to engaging in transparent and authentic customers,
manufacturing, and supply chain resource efficiency. and shareholders, and communication with our stakeholders to foster collaboration and mutual investors,
customers support and establish sustainable relationships. regulators, and
civil society
Waste We are committed to sustainable waste management practices and Suppliers, employees, organisations
Management comply with all applicable regulations for different kinds of wastes customers, government
Policy being generated by its businesses. Our Company shall integrate and regulatory bodies, Employee Effective and timely management of employee grievances is one of the Employees
and institute robust value chain for sustainable waste management community, investors and Grievance most critical aspects of employee/industrial relations. Grievances are
across various waste types. shareholders Management the sign of an employee’s discontent with his/her working conditions,
Policy processes, policies, welfare measures, opportunities for growth and
supervision among others. Thus, this policy aims at having a formalised
Water Water management practices and governance systems are our Suppliers, employees,
Grievance Management Process, that will provide our employees with a
Stewardship priority and integral to our commitment towards water stewardship. government and
platform for voicing their concerns and getting them addressed in a fair
Policy Our policy ensures legal compliance with water-related regulations regulatory bodies,
manner.
through effective management plans, optimisation of water community, customers
resource usage, collecting data on performance, minimising investors and shareholders Supplier Code We consider our suppliers as business partners. This Code of Conduct Suppliers
freshwater withdrawal, treating wastewater, addressing risks, of Conduct is aimed at collaborating with our suppliers in the promotion of lawful,
engaging with stakeholders, and monitoring and reviewing professional, and fair business practices that integrates respect of human
performance. rights, business ethics, and the environment.

ESG Related Policies
Governance Policies
AEL-ESG Governance Structure
Stakeholders Groups
Policy Details Coverage Board Committees
Board of Directors
Code of Conduct The objective of the Code of Conduct is to maintain our Board of
business standards and ensure its compliance with applicable Directors, senior
lows. We have laid down standards and values which can management
enhance the image of our Company and set the standards
Corporate Corporate Social Stakeholder
for business transactions, while deterring wrongdoing in all Risk Management
business-related activities. Responsibility Responsibility Relationship
Committee (RMC) Committee
Committee (CRC) Committee
Board Diversity The policy on Board Diversity recognises the value of having Board of Directors
Policy directors from diverse backgrounds, including gender, race,
ethnicity, nationality, and cultural background. This diversity
enables our Directors to bring a wide range of perspectives,
knowledge, and expertise to the table, ultimately benefiting AEL Sustainability Head
our Company’s business.
ESG Committee
Remuneration The policy aims to attract, retain, and motivate Directors, Key Employees, KMPs,
Policy Management Personnel (KMP), and employees. It ensures and Directors Corporate Responsibility Business Sustainability Head
that individuals do not decide their own remuneration and Committee (CRC)
considers industry trends for competitive pay. The policy
Risk Management Committee
establishes clear performance benchmarks, rewards improved
(RMC)
performance, and balances fixed, and incentive pay.
Corporate Social Mining Solar Roads and Defence and
Responsibility Committee Airports Data Center
Cyber Security The policy aims to protect our Company’s IT infrastructure Employees, Services Manufacturing Water Aerospace
(CSRC)
Policy from cyber threats and maintain the confidentiality and suppliers,
integrity of its systems. It includes risk-mitigating systems, customers, Stakeholder Relationship
processes, and controls and is applicable to all stakeholders investors and Committee (SRC)
who have access to our information and network. To ensure shareholders Audit Committee Site Sustainability Team/Nominated SPOCs
that employees are safeguarded from such threats, regular
Nomination and Remuneration
training sessions are conducted to increase awareness. The
Committee
Company has received zero complaints related to data privacy
and cyber security in FY 2022-23 and has a specific policy Information Technology and
guiding privacy protection in accordance with national and Data Security Committee
state laws. ESG Committee Our sustainability team oversees and coordinates the
We have established a management level ESG Committee following activities:
Whistle Blower This policy provides a framework to promote responsible and Employees,
Policy secure whistle blowing. It protects the stakeholders wishing customers, consisting of ESG single points of contact (SPOCs) from • Defining and setting ESG priorities
to raise a concern about serious irregularities within the suppliers, and across our diverse business units. This Committee plays
Company. communities
• Developing ESG-related policies and procedures that
a pivotal role in fostering collaboration and concerted
align with SEBI mandated BRSR, globally accepted ESG
efforts to improve our ESG performance.
Anti-corruption We strictly adhere to ethical business practices and comply Employees, frameworks, and industry best practices
and Anti-bribery with all applicable laws and regulations related to anti- customers, • Setting ESG targets and monitoring performance
Policy corruption and anti-bribery. Our Anti-corruption and Anti- suppliers, AEL Sustainability Team
bribery policy govern our employees’ behaviour and prohibits communities, This team is responsible for identifying and facilitating • Supporting our business units in developing transition
any form of bribery, corruption, and unethical practices. We investors and plans to achieve operational Net Zero
synergies across businesses for ESG, raising awareness
prioritise accountability and transparency in all our operations shareholders,
and take strict action against any non-compliance cases government and and knowledge about ESG across the businesses, • Compiling and producing ESG reports, including BRSR
related to corruption, bribery, and anti-competitive behaviour. regulatory bodies and supporting individual businesses in integrating • Responding to ESG queries from external and
sustainability into their strategic processes. internal stakeholders
In addition to the above policies, there are many other policies in place to enable effective governance. These
• Submitting responses to key ESG rating agencies such
examples represent only a fraction of the comprehensive suite of implemented policies. By adhering to these policies,
as DJSI and CDP
we strive to uphold the highest standards of ethical conduct, legal compliance, sustainability, data security, and
employee well-being. • Conducting capacity building on ESG for businesses,
including training sessions
• Providing important inputs on ESG to the strategic
communications team.

Business Sustainability Teams Assurance ESG Assurance Protocol

The Business Sustainability Teams carry out the Data assurance is a crucial step prior to publicly
following functions: disclosing information. We employ both internal and A. Defining ESG commitments and targets B. Accomplishment of ESG milestones/key achievements
• Formulating a comprehensive business-level ESG external assurance processes.
strategy, implementation, and monitoring plan Internally, we have employed a robust process for Step 01 Step 02
• Establishing a decarbonisation strategy with the goal reviewing sustainability-related data at the site level.
of achieving Net Zero status for the business This process involves dedicated Sustainability SPOCs ESG commitments Business Unit Templates for Business Unit
Internal
stationed at each site who meticulously examine and targets to management setting ESG sustainability team to
• Identifying and capitalising on opportunities to be a part of the is responsible commitments share evidences with the
implement ESG initiatives the supporting evidence and information. Our
Internal
annual business for monitoring and targets to AEL ESG lead for review
corporate ESG team conducts the final internal data plan approved by ESG goals and be provided and validation
• Ensuring compliance with ESG-related obligations and
assurance to ensure the accuracy and integrity of our the Business Unit targets as well by the Group.
regulatory requirements
sustainability data. CEO and by the as providing ESG function
• Providing capacity building on ESG for internal Board Committee updates to the to ensure
stakeholders, enhancing their understanding Externally, independent third-party assurance is (CRC) Board Committee consistency
and engagement mandatory for any data published by our Company. This (CRC)
ensures the credibility and reliability of the information
• Tracking and analysing the financial expenditure
shared with the public.
associated with sustainability initiatives and evaluating
their effectiveness
• Preparing and disclosing business specific ESG
information and disclosures, fostering transparency,
and accountability.
C. ESG Data Reporting D. Assurance Protocol
Step 01 Step 02 Step 03
Data to be Responsibility Reviewed by Any ESG data and
External
collated and AEL corporate disclosure going into
of Business
Internal
supporting ESG Lead the public domain
Units needs to be assured
evidences to sustainability
be reviewed by an independent
team to third party
by nominated review and
sustainability validate the
SPOC at sites data
Three stage review and validation process The Annual Report (including BRSR) and Sustainability
Report have been assured by an independent third party.

Risk Management Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Sustainable Growth through

Strong Risk Management
We place a strong emphasis on risk management to safeguard our 1. Risk Identification and Assessment: We have effectiveness of existing risk mitigation measures.
established a systematic process for identifying We provide regular updates to the Board and senior
operations, protect shareholder value, and ensure sustainable growth. and assessing risks across our operations. This management on risk profiles, mitigation efforts, and
We have implemented robust risk management practices across various involves identifying potential risks, analysing their any significant changes in risk exposure.
business sectors. likelihood and potential impact, and prioritising
4. Compliance and Regulatory Risk Management:
them based on their significance. The Company
We place a strong emphasis on compliance with
considers several types of risks, including strategic,
applicable laws, regulations, and industry standards.
operational, financial, regulatory, environmental, and
We have established a comprehensive framework
Risk Governance change, including the review of state and central policies.
The Committee obtains reasonable assurance from the
reputational risks.
to ensure adherence to regulatory requirements
The Corporate Responsibility Committee (CRC), along management that all known and emerging risks have 2. Risk Mitigation Strategies: Once risks are identified and mitigate regulatory risks. Regular reviews and
with the Managing Director (MD), Chief Finance been identified, mitigated, and managed. It reports on its and assessed, we develop comprehensive risk assessments are conducted to identify potential
Officer (CFO), and Head of Group Climate Change and activities and presents recommendations at subsequent mitigation strategies. These strategies involve compliance gaps and take necessary actions to
Sustainability, provide inputs on climate change and Board meetings. implementing appropriate controls, procedures, and address them.
ESG-related risks. The Risk Management Committee policies to minimise the likelihood and impact of
5. Business Continuity Planning: We recognise the
(RMC) assists the Board in overseeing the Company’s risk identified risks. We seek to proactively address risks
appetite, risk management framework, and governance Risk Management Process through effective mitigation measures.
importance of business continuity planning to
mitigate the impact of potential disruptions and
structure. The Committee reviews the Company’s risk We have responsibly identified potential ESG risks that
3. Risk Monitoring and Reporting: We maintain a have implemented robust contingency plans to
governance structure, risk assessment (including ESG could pose long-term threats to our business operations.
robust system for monitoring and reporting risks. ensure the continuous operation of critical functions
risks), risk management policies, practices, guidelines, The RMC assesses these risks and develops a targeted
Regular monitoring allows for the timely detection in the event of unforeseen events, such as natural
procedures, and the risk management plan. It also risk management plan with mitigation actions, using our
of emerging risks and the evaluation of the disasters, cyber attacks, or other emergencies.
oversees regulatory and policy risks related to climate Risk Policy as a foundation. We periodically monitor the
identified risks and update the risk management plan.
Enterprise Risk Management Framework Managing Emerging Risks and Opportunities

Our organisation follows a systematic and integrated approach to risk management, consisting of the
following components: No. Emerging Risk Category Description Impact Mitigating Actions/Future Preparedness
1. Geopolitical Geopolitical Geopolitical We are committed to The geopolitical competition for
contestation contestation of becoming a market leader in strategic resources is a complex issue
of strategic strategic resources renewable energy resources that is likely to become more important
resources is the competition such as green hydrogen, in the years to come. As the world
(including between states for batteries, wind turbines, becomes more interconnected and
technology, control of resources and solar modules. We the demand for strategic resources
energy, and critical to national have partnered with global increases, countries will compete for
minerals) security or economic experts in these fields to access to these resources. We are
Risk Compliance and development. leverage their specialised strengthening our partnerships with
Risk Identification Risk Mitigation Monitoring Business Continuity knowledge and rapidly companies in different technology
Regulatory Risk
and Assessment Strategies and Planning evolving technology. However, ecosystems to manufacture green
Management
geopolitical events and hydrogen, wind turbines, and solar
Reporting
restrictions on technology modules. New Energy Ecosystem, an
sharing could hinder our AEL subsidiary, is committed to creating
ability to fully realise the an indigenous value chain for these
benefits of these partnerships. products by investing in manufacturing
capabilities and operational excellence.

No. Emerging Risk Category Description Impact Mitigating Actions/Future Preparedness No. Emerging Risk Category Description Impact Mitigating Actions/Future Preparedness
2 Natural Environmental The rising Urban flooding in Mumbai, We continually assess climate risks 6 Misinformation Societal Misinformation refers The spread of false or To address the risk of misinformation
disasters temperatures Mangaluru, and Chennai and develop appropriate action plans and to the dissemination misleading information can and disinformation, we implement
and extreme associated with disrupts airport operations, to support long-term mitigation of disinformation of false or inaccurate damage our Company’s proactive monitoring to detect and
weather events global climate change posing risks to aircraft and these risks. Climate risks are integrated information, while reputation, erode stakeholder analyse false narratives. Transparent
increase thunderstorm clean water availability. into our enterprise risk management disinformation trust, and impact investor communication channels are
intensities, Chennai’s Data Center faces framework. involves the confidence. It can also maintained to counter misinformation
cyclones, and heavy disruptions from tropical intentional spread of influence consumer and build trust. Collaboration and
precipitation. disturbances and flooding, false information with perception, leading to partnerships with trusted rating
leading to power failures, the aim of deceiving decreased demand and agencies, related organisations, fact-
supply chain issues, and or manipulating market share. Regulatory and checking initiatives, and industry
a lack of clean water for audiences. legal consequences may arise peers strengthens efforts to combat
cooling. Water scarcity if misinformation violates laws misinformation collectively.
hampers solar manufacturing or regulations. Additionally,
in Mundra, while mining social and stakeholder
operations in Madhya Pradesh, impacts can occur, including
Chhattisgarh, and Odisha are public backlash, protests, and
at risk due to high rainfall. disruptions to operations.
3 Failure to Environmental This risk refers Businesses face increased Invest in renewable energy sources, 7 Energy price Economic Energy price volatility Potential consequences of We mitigate energy price volatility
mitigate to the potential regulatory requirements and energy efficiency measures, and volatility risk refers to the fluctuating energy prices by expanding our renewable energy
climate change consequences of compliance costs due to low-carbon technologies to reduce uncertainty and on the operations, financial portfolio, optimising operational
not taking sufficient emissions reduction measures greenhouse gas (GHG) emissions and fluctuations in the performance, and overall efficiency, and adopting advanced
action to address implemented by governments align with a sustainable future. prices of energy business outcomes. technologies. We emphasise market
the adverse effects and international bodies. commodities, such These price fluctuations intelligence and scenario planning
of climate change, as oil, gas, and can affect our Company’s to identify risks and adapt strategies
including rising global electricity, which can profitability, cost structures, accordingly. These risk mitigation
temperatures, extreme impact our operations and investment returns. measures, along with a diversified
weather events, sea- and financial portfolio and strong financial discipline,
level rise, and other performance. These position us to effectively manage
related impacts. price fluctuations energy price volatility and create
4 Climate change Environmental Climate change Increased regulatory scrutiny, We integrate climate considerations can be influenced sustainable value for investors and
adaptation adaptation failure is reputational damage, physical into our strategies and targets. Our by numerous factors stakeholders.
failure the most impactful risks from extreme weather, businesses have been investing in including supply and
and one of the most supply chain disruptions, and renewable energy and implement demand dynamics,
likely long-term risks shifts in consumer behaviour. climate resilience measures. geopolitical events,
identified. It arises Financial risks may also arise regulatory changes,
Collaboration with stakeholders and and weather
when inadequate from stranded assets or disclosure of climate-related risks
measures and policies investments in high-carbon conditions.
and opportunities to investors and
are in place to address industries facing declining customers are also done. 8 Collapse of a Economic It is characterised In the event of a collapse We closely monitor the health and
climate change. demand. systemically by the potential within an industry or supply stability of our industry and supply
By demonstrating commitment to important breakdown of key chain on which we rely, chain partners, diversify our sourcing
climate action, we enhance resilience, industry or components, such it could lead to severe strategies, and establish contingency
seize new market opportunities, and supply chain critical infrastructure, disruptions in the availability plans to address potential disruptions.
contribute to a sustainable future. or interdependent of crucial inputs, resources, Collaboration with key stakeholders and
5 Social cohesion Societal Social cohesion This risk can lead to decreased There is huge scope to enhance self- networks, which play a or services necessary for our implementing robust risk management
erosion erosion is among the consumer confidence, organised resilience at the community vital role in supporting operations. This could result strategies is crucial in mitigating the
highest likelihood disruptions in supply chains, and national levels. economic activities in production delays, supply adverse effects of a collapse within
and highest impact strained employee relations, We need to proactively address societal and ensuring the flow shortages, increased costs, a systemically important industry or
long-term risk. It and reputational damage. cohesion risk by promoting diversity, of goods and services. and potential revenue loss. supply chain.
encompasses factors inclusion, and social responsibility, and 9 Data theft Technological Data theft risk refers The consequences of data We implement robust cyber security
such as social unrest, actively engaging with stakeholders to the potential threat theft can be significant and measures such as firewalls, encryption,
cultural conflicts, to build positive relationships and of unauthorised wide-ranging for businesses. and multi-factor authentication.
inequality, and contribute to the well-being of the access, acquisition,
polarisation, which It can result in financial losses, Regular security audits and vulnerability
communities we operate in. or disclosure of reputational damage, legal assessments help us to identify
can impact businesses sensitive and valuable
in various ways. liabilities, and regulatory non- and address potential weaknesses.
information held by compliance. Employee training and awareness
businesses. programmes promote responsible data
handling practices. Furthermore, data
backup and recovery systems are put
in place to minimise data loss and
facilitate business continuity in case of
incidents.

Awards
Capitalising Our Emerging Opportunities Recognition for Excellence

Emerging opportunities for businesses like ours can arise from factors such as market trends, technological
advancements, policy changes, and evolving consumer demands. It is crucial for our Company to constantly monitor
the business landscape, evaluate market trends and align strategies to seize emerging opportunities. By adapting to
evolving dynamics and maintaining agility, we can sustain our competitive advantage and foster long-term growth.
While specific opportunities may vary based on our industry and strategic direction, here are a few potential
emerging opportunities:
No. Emerging Opportunities Description Our Response
1 Renewable energy transition The global shift towards We are investing in renewable energy projects such
renewable energy presents as solar and wind farms, contributing to sustainable
significant opportunities for our growth, and align with the increasing demand for
Company. clean and environmentally friendly energy sources
• Through our New Energy Ecosystem business,
we are undertaking green hydrogen projects
and manufacturing major components for
renewable energy generation such as solar cells
cum modules, wind turbines, electrolyser, and
associated upstream and downstream products
Mumbai International Airport achieved Natural Resource business received the
2 Infrastructure development As economies grow and With our expertise in infrastructure projects, we Level 4+ ‘Transition’ of Airport ‘Sustainable Mining’ award from the
urbanisation continues, there is can seize opportunities to participate in major
a growing need for infrastructure infrastructure initiatives, both domestically and Council International’s Airport Carbon Federation of Indian Mineral Industries
development across sectors like internationally
transportation, logistics, energy,
Accreditation, becoming the third airport (FIMI) for the PEKB coal mine.
• Business expansion into data centers: JV Adani
and telecommunications. ConneX with EdgeConneX to develop and operate in the Asia-Pacific region to achieve this
data centers high level of carbon management maturity.
• Adani Water signs Hybrid Annuity Model
concession agreement for Bhagalpur, Bihar STP
under ‘Namami Gange’ project Ahmedabad Airport awarded ‘Gold’ from the Natural Resource business won the HSE
• Expansion into Uttar Pradesh with Ganga Society of Energy Engineers and Managers Excellence Award in mining at the India HSE
Expressway project under Adani Roads business
• Incorporation of New Energy Ecosystem business
(SEEM) for energy efficiency. Summit & Award 2022.
• Upgrading and managing seven airports:
Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati Airport awarded the Greentech Our Solar Manufacturing business won
Guwahati, Thiruvananthapuram, and Mumbai
Award 2022 for outstanding performance in the ‘Golden Peacock Eco-Innovation
3 Digital transformation The rapid advancement of We can explore digital transformation opportunities,
technology and digitalisation such as implementing smart technologies, leveraging
the environment and sustainability category. Award’ for using effluent treatment plant
across industries opens up data analytics, and investing in digital platforms to (ETP) waste chemical sludge as raw
avenues for innovative solutions enhance efficiency, improve customer experiences,
and new business models. and drive operational excellence
material in another industry.
• Launch of Adani Intelligent Mining (AIM) in 2021,
a digital initiative for the mining businesses
Jaipur Airport awarded the Apex India Green Our Roads and Water business won Gold Award
4 Global trade and economic The ongoing globalisation With our diversified portfolio and global presence,
integration and integration of economies we can leverage these opportunities by expanding Leaf Award in the ‘Gold’ category for achieving for 5S in Quality Circle Forum of India (QCFI)
continue to create opportunities our reach into emerging markets, forging strategic environmental excellence. for year 2022. The business also recieved
for companies engaged in partnerships, and capitalising on favourable trade
international trade. agreements. the Excellence Award in Kaizen at National
Conclave of Quality Concepts. Also, First Runner
Up Certificate was awarded to Adani Water
Limited, Uttar Pradesh in the Service Category
at the MQH Best Practices Competition by IMC
Ramkrishna Bajaj National Quality Award Trust.
Environment
Committed to stewarding the
environment, our system integrates
eco-practices, policies, and
industry standards. We exhibit
environmental responsibility by
reducing resource consumption
waste management, and combating
climate change for a more
promising future.
.
In this section
65 Environment Thrust Areas
66 Decarbonisation Strategy
75 Energy Management
78 Emissions Management
83 Water Stewardship
87 Waste Management
90 Biodiversity Management
93 Regulatory Compliance
UN SDGs aligned

Environment Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Committed to Environmental Stewardship

• Emissions Management: At AEL, we are making all
Management Approach and demonstrates our adherence to global best practices.
By continually optimising our EMS, we aim to reduce our
Environmental Thrust Areas the efforts to reduce our GHG emission footprint.
We prioritise our role as environmental stewards and Our sustainability initiatives are guided by a
environmental footprint and drive positive change in the Managing emissions is a critical aspect of our
are dedicated to upholding sustainable practices. A comprehensive materiality assessment, enabling
communities we serve. environmental efforts. We closely monitor and mitigate
cornerstone of this commitment is the implementation of us to identify and prioritise key focus areas related emissions, including greenhouse gases and other air
a robust and comprehensive environmental management to the environment. These focus areas serve as a
Environment and Climate Change Policies pollutants, to ensure compliance with regulations and
system. Designed to integrate environmental roadmap for our efforts to minimise our environmental
We recognise the importance of environmental protect air quality.
considerations into every facet of the organisation, impact and build our commitment to sustainability.
this system serves as a foundational framework for stewardship in achieving sustainable growth. We have • Water Management: Water management is a priority
By aligning our actions with these identified areas,
managing and mitigating the environmental impact of developed a comprehensive set of environmental policies for us, as we aim to minimise water consumption,
we aim to make meaningful contributions towards
our operations. The environmental management system that provide clear direction and govern our business implement efficient water usage practices, and
environmental preservation.
encompasses a wide range of policies, procedures, and strategies and actions. These policies reflect our effectively manage wastewater to preserve
practices that adhere to industry best practices and unwavering commitment to transitioning to a sustainable water resources.
• Climate Strategy: Our climate strategy is a central
regulatory requirements. By adhering to these standards, growth model and implementing robust environmental • Waste Management: Proper waste management is
focus, as we recognise the urgency of addressing
our Company ensures that all activities are conducted in restoration and conservation initiatives. essential. We prioritise waste reduction, recycling,
climate change. We develop and implement strategies
an environmentally responsible manner. This proactive to reduce greenhouse gas emissions and mitigate the and responsible disposal practices to minimise waste
approach allows us to identify and address potential • Environment Policy generation and promote a circular economy.
effects of climate change.
environmental risks, reduce resource consumption, • ESG Policy • Biodiversity Management: Preserving biodiversity
• Energy Management: Effective energy management
minimise waste generation, and mitigate emissions. • Biodiversity Policy is a crucial focus area. We develop and implement
is another key area of focus. We strive to optimise
We operate in diverse sectors including Mining Services, • Climate Change Policy energy consumption, improve energy efficiency, and biodiversity management strategies to protect and
Airports Infrastructure, Data Center, Solar Module explore renewable energy sources to minimise our enhance ecosystems, conserve species, and promote
• Energy Management Policy
Manufacturing, Road Infrastructure, and Defence and carbon footprint. sustainable land use practices.
• Resources Conservation Policy
Aerospace. In light of the pressing issue of climate • Regulatory Compliance: Regulatory compliance is an
change, the Company recognises its responsibility to • Water Stewardship Policy integral part of our environmental efforts. We adhere
minimise its contribution to this global challenge. As a • Waste Management Policy to environmental regulations and standards, ensuring
responsible corporate entity, we are committed to playing our operations meet or exceed legal requirements.
a leadership role in addressing this global challenge. By The Corporate Responsibility Committee (CRC),
promoting renewable energy adoption and investing comprised of Independent Directors, oversees the Key Environment Performance Highlights
in clean energy solution, we aim to be an integral part implementation of these policies. They ensure the
of the solution to climate change. Our dedication to achievement of goals and targets set by the businesses Parameter Achievements
sustainability and responsible practices drives us to to minimise environmental impacts, as well as the
Energy Intensity Achieved a reduction of 26% against the baseline year of FY 2021-22. (GJ per
create a better and more sustainable future for all. continuous improvement of environmental performance. Rupee of Turnover)
Regular trainings, both in-person and online, are
Emission Intensity Achieved a reduction of 55% against the baseline year of FY 2021-22. (MtCO2e
Environment Management System conducted to raise awareness and build knowledge on
per Rupee of Turnover)
Adani Enterprise Limited’s Environmental Management environmental matters, the impact of business activities
on the environment, and the latest developments in the Renewable energy AEL has increased the percentage of renewable energy in the total energy mix to
System (EMS) plays a central role in ensuring 13% in FY 2022-23 as compared to 1% in FY 2021-22
compliance with environmental laws and regulations. field on improving environmental performance.
Water Intensity Achieved a reduction of 28% against the baseline year of FY 2021-22. (Water
Our comprehensive EMS encompasses oversight The policies and the governance are discussed in detail in consumed in KL per Rupee of Turnover)
policies, controls, and procedures to effectively manage previous section of this report.
environmental aspects throughout our operations. Tree Plantation Planted 13 lakh trees by FY 2021-22
Dedicated committees within our organisation oversee Waste management 82% of waste generated in FY 2022-23 from our businesses was diverted from
the development and implementation of EMS policies, going to landfill
ensuring alignment with our sustainability objectives Green Buildings Chennai Data Center, Solar Manufacturing at Mundra and Mumbai T2 are
and continuous improvement. This collaborative certified platinum rated Green Buildings by Indian Green Building Council (IGBC)
approach allows us to actively monitor and evaluate
our environmental performance, identifying areas for We observe a significant reduction in energy, emission, and water intensity this year. The number of operational
enhancement and setting new targets. businesses under AEL have increased in the current reporting year resulting in higher turnover. Nonetheless, the
positive trend demonstrates our commitment to sustainable practices and highlights the effectiveness of our efforts
To validate the efficacy of our EMS, we pursue third-
in optimising resource usage across our expanding operations. We remain dedicated to further enhancing our
party certification. External certification reinforces our
performance as we continue to grow, fostering a greener and more sustainable future.
commitment to responsible environmental stewardship

Change in Energy Mix: The percentage of renewable energy Certified Green Buildings: We are increasingly adopting
Decarbonisation Strategy – in the overall energy mix has experienced remarkable the concept of Green Buildings which ensures better
Scenario Analysis for
Paving the Way towards a growth. In FY 2022-23, the share of renewable energy has environmental performance on all the indicators. Our Physical Risks
Carbon-free Future risen to 13%, a significant increase from the 1% recorded
in FY 2021-22. This noteworthy progress highlights AEL’s
Chennai Data Center, Solar Manufacturing at Mundra and
Mumbai’s T2 are certified platinum rated Green Buildings
A comprehensive scenario analysis was conducted to
assess the physical risks impacting the different AEL
At Adani Enterprises Limited, we are steadfast in our dedication to incorporating sustainable and clean energy and we are planning to have green buildings at our new Business Units under different emissions scenarios.
commitment to reducing carbon emissions throughout sources into its operations, contributing positively to airport sites. The physical risks considered for the scenario analysis
our operations and product life cycles. We recognise decarbonisation initiative. In addition to green electricity, are chronic heat, flooding, exceptional drought and
the importance of reducing our carbon footprint across we are increasing the use of cleaner fuels in our operations. Climate Governance precipitation. An open-source tool named OS-Climate
the geographies in which we operate, in harmony with
Nature Based Solutions: Furthermore, we recognise the At AEL, climate action is deeply ingrained in our business PhysRisk (Linux Foundation, https://os-climate.org/) was
national ambitions. Our carbon reduction targets are
significance of Nature Based Solutions in our journey strategy and risk management practices. The Company’s utilised for gaining valuable insights into the potential
intricately aligned with India’s national objective of
towards decarbonisation. By investing in initiatives that Board plays a pivotal role in driving and overseeing our impacts on the following five business units of AEL
achieving net-zero emissions by 2070, in accordance with
enhance carbon sequestration through reforestation, climate strategy, with a robust governance structure (Airports, Mining Services, Roads and Water, Data Center
the global ambitions outlined in the Paris Agreement to
afforestation, and ecosystem restoration, we actively in place. Our robust governance structures facilitate and Solar Manufacturing).
limit global warming to well below 2 degree celsius and
contribute to mitigating climate change while fostering proactive management and vigilant oversight of climate-
pursue efforts to achieve a 1.5 degree celsius target. The analysis considered two representative
biodiversity conservation and environmental resilience. related issues, ESG performance, and CSR activities,
Aligned with this commitment, we have endorsed the concentration pathways (RCPs): RCP 4.5 and RCP 8.5.
We have significantly increased green cover across our underscoring AEL’s dedication to implementing impactful
recommendations put forth by the Task Force on Climate-
businesses and thereby enhancing carbon sequestration decarbonisation strategies and fostering sustainable
related Financial Disclosures (TCFD). Our focus extends • RCP 4.5 assumes a decline in global emissions after
and environmental sustainability. AEL businesses planted practices as a testament to our commitment to
beyond our production processes, encompassing supply peaking around 2040, aiming to limit global warming
13 lakh trees by 2022. responsible corporate stewardship.
chains, internal governance, disclosures, and policy to 2 degree celsius. Under this scenario, average
advocacy to facilitate a seamless transition towards a Development of Deep Decarbonisation Technologies: Green temperatures are projected to rise by 2 degrees
• The Corporate Responsibility Committee (CRC) assist
lower carbon future. hydrogen is one of the key decarbonisation avenues we celsius by the end of the 21st century, accompanied
the Board of Directors in fulfilling its responsibilities to
are actively pursuing. By harnessing the power of green by moderate sea-level rise and an increase in extreme
oversee the Company’s significant strategies, policies,
Approach to Decarbonisation hydrogen, we aim to replace conventional fossil fuel-based weather events.
and programmes on social and public responsibility
Our decarbonisation efforts extend beyond individual energy sources with a clean, sustainable alternative. Our matters and for sustainability aspects with respect to • RCP 8.5 represents a scenario with continued rising
projects, as we continuously explore innovative objective is to establish a comprehensive integrated platform the Company. emissions, leading to global warming of 4 degree
technologies, engage with stakeholders, and collaborate that enables the production of cost-effective green hydrogen celsius or more by the end of the century. This scenario
• The Risk Management Committee oversees risk
with industry peers to advance the decarbonisation while offering a complete end-to-end energy supply chain implies more severe impacts, including substantial sea-
governance, including ESG risks and regulatory and
agenda. Through concerted efforts, we strive to shape solution. In the long term, we are committed to being at the level rise and intensified extreme weather events.
policy risks related to climate change. It reviews the
a sustainable future, minimising our environmental forefront of Carbon capture technology.
risk management framework, policies, practices, and
impact, and driving the transition to a low-carbon Physical Risks – Classification Methodology
Our key initiatives include: procedures and obtains reasonable assurance from
economy. We embrace the challenge of decarbonisation After assessing the climate risks for the selected
management regarding the identification, mitigation,
as an opportunity for growth and progress. With an • Establishing a fully integrated solar module business units, the numerical results were converted into
and management of current and emerging risks.
commitment to sustainable practices, we envision a manufacturing facility of 10 GW per annum, spanning a five-step qualitative scale. The risk categories are Low,
future where Net Zero is not just a goal but a reality. from poly silicon to cells and modules at Mundra SEZ • A resolute Corporate Social Responsibility Committee
Medium-Low, Medium, Medium-High, and High.
ensures compliance with the Companies Act 2013
As a responsible corporate citizen, we embrace a holistic • Commissioning a 1.5 GW per annum wind turbine
and the Securities and Exchange Board of India The measurement range was finalised by considering the
decarbonisation approach, exploring cross-cutting manufacturing plant at Mundra SEZ
(Listing Obligations and Disclosure Requirements) minimum and maximum values for each specific physical
opportunities to drive positive change. Regulation, 2015. risk category at a global level. The scale thus reflects
Circular Economy: By embracing the principles of the
Energy Efficiency: Energy efficiency not only offers • As recommended by CRC, an ESG committee with the severity of physical risks and enables a more precise
circular economy, our focus is on optimising energy
substantial potential for cost reduction in our operations representations from sustainability heads of individual analysis and informed decision-making process.
usage, minimising waste generation, maximising resource
but also stands as one of the four primary levers for efficiency, and promoting the reuse and recycling of AEL businesses has recently been formed to further
decarbonising our Company, highlighting its crucial role materials. Around 82% of waste generated in FY 2022-23 strengthen the ESG governance.
in advancing our sustainability goals. We decreased our from our businesses was diverted from going to landfill
energy intensity (per rupee of turnover) by 26% compared through reuse, recycling, and other recovery initiatives.
to the FY 2021-22. Additionally, we prioritise collaboration This approach aims to prolong the lifespan of materials,
with all stakeholders to ensure an equitable and inclusive reducing the reliance on new resource extraction and
transition to a low-carbon economy. effectively mitigating carbon emissions.

Physical Risk Indicator Impacts on the Business Units The impacts of different physical climate risks are
presented below.
Chronic Exceptional Precipitation Flooding Due to the varying severity of physical risks and the
Heat Intensity Drought Intensity Intensity Intensity
Climate geographical locations of the Business Units, each risk
BU Facility Scenario Short Medium Long Short Medium Long Short Medium Long Short Medium Long Chronic Heat
type has a distinct impact on the business operations.
RCP 4.5 The risk category of chronic heat evaluates persistent
Ahmedabad The comprehensive climate scenario analysis reveals how
International RCP 8.5 risks, such as chronic heat, flooding, exceptional drought, and prolonged exposure to high temperatures. The
RCP 4.5 and precipitation, affect the diverse Business Units. tool analyses the frequency and intensity of chronic
Mumbai International heat events using historical temperature data from
RCP 8.5 For instance, in regions where chronic heat is a low- meteorological stations and climate models. Based on
Navi Mumbai RCP 4.5 medium risk, infrastructure, including electrical systems,
International (Under
physical principles and historical data, future climate
development) RCP 8.5 may experience deterioration over time. On the other scenarios are evaluated.
RCP 4.5 hand, in areas where flooding is more relevant, such as
Lucknow Exposure to increased temperature would significantly
International near coastal regions, the exposure of critical assets to
RCP 8.6 impact the physical infrastructure, particularly the
Airports floodwaters can lead to disruptions in daily operations
RCP 4.5 electrical systems. Furthermore, the operational
Mangaluru and expensive repair and recovery efforts.
International RCP 8.5 and maintenance cost associated with cooling
In locations with a potential for exceptional drought, the would also increase due to prolonged periods of
RCP 4.5
Jaipur International scarcity of water resources might increase operational increased temperature.
RCP 8.5
challenges and maintenance costs. Additionally, locations
RCP 4.5 that lie in the medium level of precipitation risk, such as In addition to its impact on infrastructure and operational
Guwahati
International RCP 8.5 Solar Manufacturing business, may require increased costs, chronic heat also adversely affects employee
spending on routine maintenance and upgradation of health, significantly affecting workplace productivity.
RCP 4.5
Thiruvananthapuram Intense heat events can lead to a substantial impact
International RCP 8.5
drainage systems to ensure hassle-free operations, albeit
with increased operational costs. over the long-term time horizon. Employees exposed to
RCP 4.5 excessive heat risk developing heat-related illnesses,
Parsa East Kente
Basen (PKEB) RCP 8.5 including heat exhaustion and heatstroke, which can
RCP 4.5 be highly detrimental to their well-being and overall
Gare Pelma III (GP III) performance. This risk is particularly pronounced
RCP 8.5
for employees working in outdoor or non-air-
RCP 4.5
Mining Talabira I & II conditioned environments.
Services RCP 8.5
RCP 4.5
Suliyari
RCP 8.5
RCP 4.5
Kurmitar
RCP 8.5
RCP 4.5
Solar Mundra, Kutch
Manufacturing RCP 8.5
RCP 4.5
Unnao, Uttar
Pradesh, RCP 8.5
Roads and
Water RCP 4.5
Hardoi, Uttar Pradesh
RCP 8.5
RCP 4.5
Siruseri (near
Chennai) RCP 8.5
Data Center
RCP 4.5
Ahmedabad
Corporate Office RCP 8.5
Risk Time-Horizon
High Medium - High Short Medium Long
Medium Medium - Low Low 2020 2030 2050

Precipitation Intensity
Precipitation intensity refers to the rate at which
precipitation (such as rainfall or snowfall) occurs over
a given period. Changes in precipitation patterns,
such as heavy rain or extended dry spells, can affect
businesses by disrupting ecosystems, water availability,
and weather patterns. The tool combines information
from precipitation gauges, weather radars, and climate
models to analyse precipitation patterns, trends, and
anomalies. Using climate models, such as the General
Circulation Model (GCM) and Regional Circulation Model
(RCM), future precipitation scenarios are simulated
while considering physical processes and historical
climate data.
An assessment of 18 business locations under RCP 4.5

and 8.5, covering the present, 2030, and 2050 timeframe,
revealed that more than 75% of the assessed locations
are susceptible to increased precipitation intensity.
Ageing infrastructure may experience higher stress due
to increased rainfall, necessitating regular maintenance
and upgrades. Severe precipitation events can also
Flooding Intensity cause disruptions in the supply chain, affecting the
transportation of raw materials and finished products to
Flood intensity refers to the magnitude or severity of
and from the facility. For mining locations, precipitation
a flood event. The intensity of a flood is influenced
can increase the risk of landslides in mining areas,
by various factors, including the volume and duration
especially in regions with steep terrain and loose soil.
of rainfall, the capacity of water bodies and drainage
Heavy rainfall can saturate the ground, leading to soil
systems, and the characteristics of the affected area’s
instability and an elevated risk of landslides.
topography and land use. Rising global temperatures
can lead to more intense rainfall events, increasing the
potential for flash or riverine flooding. Sea-level rise can
exacerbate coastal flooding, particularly during storm
Exceptional Drought surges. The tool employs the WRI Aqueduct flood model,
which incorporates a variety of data sources such as
Exceptional drought refers to the most severe form of Among the different business locations, Jaipur
river flow records, topography data, and climatic data.
drought with the worst conditions on record. This risk International Airport is particularly vulnerable to
Using hydrological and hydraulic modelling approaches,
poses a serious threat of aggravating water scarcity. exceptional drought, attributed to the limited availability
this model evaluates flood likelihood and size by
The tool used analyses data from hydrological of natural water sources in the nearby areas. As a
simulating floods.
models and satellite observations to determine the result, the airport is likely to face more substantial
likelihood of drought. The intensity of drought is consequences compared to other business units in The flooding risk is more prominent in Business
characterised by SPEI values. The SPEI (Standardised regions with different climatic conditions. During Units located in coastal regions. For the Airports
Precipitation Evapotranspiration Index) is an index exceptional droughts, the demand for water increases, business, flooding events significantly threaten airport
based on precipitation data. Drought events occur and its availability decreases, leading to potential cost infrastructure, including runways, taxiways, and
whenever the SPEI remains continuously negative (<- escalation in securing water resources. The airport may airport facilities. Vulnerability to inundation during
1). Exceptional drought is characterised by the lowest experience higher costs for obtaining water supplies and intense rainfall or storm surges can result in damage,
precipitation values (SPEI < -2). implementing water-saving measures to mitigate the disruptions to flight operations, and expensive repair
impacts of water scarcity. and recovery efforts. For all other businesses exposed
to this risk, regular maintenance and upgradation of
drainage systems would result in increased operational
costs. Further, intense flooding might disrupt business
operations, leading to significant productivity and
financial losses.

Climate Strategy
As part of our strategic objective of “Incubating Sustainability,” we have set both short-term and long-term goals along Long Term (6-10 YEARS) – Explore and Invest in the Development of Deep
with action plans to address carbon emissions and develop a roadmap for decarbonisation. These short-term goals are Decarbonisation Technologies
designed to provide immediate impact and progress towards our long-term sustainability objectives. By focusing on
both short-term and long-term goals, we aim to make tangible and meaningful strides in reducing our carbon footprint • Exceed India’s NDC commitment of 45% Emissions • Engage in nature-based solutions by supporting
and promoting sustainability within our operations. intensity reduction in terms of emissions per unit reforestation, afforestation, and conservation
of turnover. projects to enhance carbon sequestration and
• Investing in green transition including green biodiversity preservation.
Short to Mid Term (0-5 YEARS) – Shifts into Business Models hydrogen and its value chain. • Commit to the Science Based Targets initiative (SBTi)
• Airports and Data Center businesses to become targets for relevant businesses wherever feasible.
• Continuously assess and monitor AEL’s carbon • Explore opportunities for sustainable procurement
operational Net Zero by 2030. • Advocate for policies and regulations that support
footprint across all business operations. practices, prioritising suppliers with strong
• Implement advanced renewable energy systems renewable energy development, energy efficiency,
• Align with the recommendations of the Task Force environmental credentials.
and energy storage systems to optimise energy and sustainable practices at the local, national, and
on Climate-related Financial Disclosures (TCFD) to • Increase investment in research and development international levels.
utilisation.
enhance transparency and disclosure of climate- to drive innovation in low-carbon technologies
related risks and opportunities. and solutions. • Develop long-term climate resilience plans.
• Establish partnerships and secure renewable energy • Expand the adoption of electric vehicles (EVs) and
supplies to increase the share of renewable energy in establish charging infrastructure to support the
the Company’s operations.
• Identify and assess climate change vulnerabilities
transition to a low-carbon transportation fleet.
• Enhance employee engagement and training
Net Zero Commitment Data Center
We strive to be leaders in our sector in India and make Operational Net Zero by 2030
specific to each business sector and develop tailored programmes to promote climate awareness and
significant contributions to the country’s journey
risk mitigation plans. sustainability practices.
towards achieving Net Zero emissions. Two of our
• Seek green building certifications for data • Foster partnerships with local communities, businesses have committed to becoming Operational Airports
centers, solar facilities, and new airport sites, indigenous groups, and stakeholders to ensure a just Net Zero, demonstrating our dedication to reducing our Operational Net Zero by 2030
wherever feasible. and inclusive transition to a low-carbon economy. carbon footprint and embracing sustainable practices.
• Implement energy-efficient measures and • Regularly track and report progress on climate- Through these commitments, we aim to set an example
technologies to reduce energy consumption and related goals and targets to stakeholders, ensuring and inspire others in our industry to act towards a more
emissions across operations. transparency and accountability. sustainable future.

Decarbonisation Goals and Ambitions

Airports Business Data Center
Pathways Decarbonisation Targets Performance Status Pathways Decarbonisation Targets Current Metrics
Emissions • Operational Net Zero (Scope 1 & • 40% absolute reduction in Scope 1 & scope 2 emissions Emissions • Operational Net Zero (Scope 1 & • 4.5 MW Solar-Wind Hybrid power for Chennai Data Center
Scope 2) by 2030 achieved in FY 2022-23 with regards to FY 2021-22 Scope 2) by 2030 • PPA has been signed with AGEL to source 50% RE Power in this
• Carbon neutral by 2025 • Mumbai International Airport Limited (MIAL) has achieved financial year
• Achieve ACA Level 4+ at all ACA Level 4+ certification, the highest level of accreditation • Company is also exploring the option to decarbonise the Data
airports by 2025 under the Airports Council International (ACI) Airport Carbon Center business through procurement of maximum renewable
Accreditation programme power in upcoming Data Centers at Noida and Hyderabad which
• 644 air conditioners transitioned to lower global warming are under construction
potential ACs
• 921 Fire Extinguishers replaced with non-CO2 type Energy • Achieve the reduction in designed • Measurement of energy consumption (all types of fuels and
fire extinguishers PUE by ~5% by FY 2024-25 electricity) and PUE at all operational facilities
Energy • Transition to 100% green • Transition to 100% green electricity at MIAL achieved
electricity at all airports
by 2026
• In FY 2022-23, we successfully transitioned 111 of our airport-
owned conventional fossil-fuel based vehicles to EVs
Energy Management Energy Consumption
• Conversion of airport-owned At AEL, Energy Management is one of the most important Energy Consumption is an important indicator, and
• Currently 9% (161) of stakeholder vehicles are electric
fossil fuel vehicles to EVs material topics. Energy and Emissions Management is we continuously strive to reduce energy footprint
(excluding CFTs, QRT and across all our businesses. The businesses rely on a
ambulance)
critical to tackle the risks posed by climate change. Our
Energy Management Policy aids our efforts to manage combination of energy sources for their operations.
• Conversion of stakeholder GSE/
energy consumption and emissions, integrate renewable We continuously track energy consumption across
GSV to electric
energy sources wherever feasible, and adopt efficient facilities and equipment which helps in mapping the
Afforestation • 2,10,000 trees to be planted • 12,750 trees planted in FY 2022-23 ways of energy usage. consumption pattern and structure and prioritise energy
by FY 2029-30 conservation initiatives.
Energy Consumption (in GJ)

Mining Services Details of total energy consumption (in Joules or multiples) and energy intensity, in the following format #
Parameter Unit FY 2022-23 FY 2021-22 FY 2020-21
Pathways Decarbonisation Targets Performance Status Total electricity consumption (A) GJ 10,34,946 8,22,344 2,98,601
Total fuel consumption (B) GJ 23,58,588 15,71,670 7,82,899
Emissions • Emission Intensity Reduction • Emissions intensity (in terms of tCO2e/ metric tonne of mineral
**Energy consumption through other sources (C) GJ 7,66,605 17,884 8,779
target of 15% by FY 2027-28 production) decreased by approximately 1% in FY 2022-23 over
FY 2021-22 (scope 1 and scope 2) Total energy consumption (A+B+C) GJ 41,60,139 24,11,898 10,90,279
• Focused on reducing its operational emission by sourcing Energy intensity per rupee of turnover (Total energy GJ/Cr 229 309 217
renewable energy for mining and washing operations, as part of consumption/ turnover in rupees) (Turnover:
its ESG commitment 18,148.85 Cr)*
Energy intensity (optional) – the relevant metric NA NA NA
NA
Energy • Energy Intensity Reduction target • Mining Services has decreased its energy intensity (GJ/ metric may be selected by the entity
of 15% by FY 2027-28 ton of mineral production) by 5% in FY 2022-23 as compared to The energy consumption details mentioned above for the current financial year is for all the six operational businesses under scope,
#
FY 2021-22 whereas the last financial year’s information was limited for Natural Resources, Airports and Solar Manufacturing businesses.
• The business is planning to install solar power plant of 13 MW at * For all the Intensity calculations, we have considered the annual turnover for only those businesses whose Environmental data has been
mine sites used for reporting purposes.
• AEL has signed an agreement to launch a pilot project to develop
** The energy consumption through other sources includes heat, steam and energy from Renewable sources.
a hydrogen fuel cell electric truck (FCET) for mining logistics
and transportation with Ashok Leyland, India, and Ballard Power,
Canada. This collaboration marks Asia’s first planned hydrogen
powered mining truck
Afforestation • Target of planting 9+ million trees • 10.39 lakh trees plantation and 9,378 trees transplantation have
by FY 2029-30 been done till FY 2022-23
• Compensatory afforestation completed on 7,192 ha area

Initiatives Undertaken on Energy Management Renewable Energy Consumption

Our Energy Management Policy lays emphasis on energy Amid the growing emphasis on decarbonising the
conservation through multiple initiatives. Energy audits energy system, we believe that renewable energy
are undertaken to map energy consumption throughout will play a crucial role in shaping the future decades.
operations and identify potential for energy savings. Low While we still rely on conventional energy sources, we
energy consumption devices are put to use to replace are actively increasing the utilisation of low carbon
high energy consumption ones. Constant attempts are alternatives. Moreover, we are actively transitioning
being made to improve the energy efficiency of our towards renewable energy sources and have already
operations to conserve energy. Some of the noteworthy incorporated solar and wind energy to power some
initiatives by AEL businesses include: of our operations. By consciously replacing fossil fuel
consumption with renewable sources, we aim to reduce
• Solar Manufacturing: The installation of rooftop solar our carbon footprint.
plants with a capacity of 1.6 MW has contributed to
In the FY 2022-23, we have witnessed a substantial
the substitution of approximately 2% of its power
increase in the adoption of renewable energy, with a
requirement. Additionally, the business have procured
total uptake of 5,43,183 GJ (1,51,005 MWh). This surge
an additional 13% of green energy from grid to further
in renewable energy utilisation is primarily attributed to
enhance our sustainable energy portfolio.
Mumbai International Airport Ltd.’s decision to consume
• Data Center: We have signed the PPA with Adani 100% green energy by paying an additional tariff to
Green Energy to procure 50% Renewable Power in the DISCOM (distribution company). This initiative has
current financial year. This commitment highlights our significantly contributed to our efforts in transitioning
Energy Consumption dedication to integrating clean energy solutions into towards a more sustainable energy portfolio.
Parameter Unit FY 2022-23 FY 2021-22 FY 2020-21
our operations.
Total electricity consumption (A) MWh 2,87,715.0 2,28,611.6 83,011.1 • Airports: As part of its decarbonisation strategy, the
Total fuel consumption (B) MWh 6,55,687.5 4,36,924.3 19,96,845.9 business has been able to achieve 40% transition to
**Energy consumption through other sources (C) MWh 2,13,116.2 4,971.8 2,440.6 electric vehicles in FY 2022-23. Consequently, it now
Total energy consumption (A+B+C) MWh 11,56,518.6 6,70,507.6 3,03,097.6 operates at a fleet of 111 electric vehicles across all
Energy intensity per rupee of turnover (Total energy MWh/Cr 63.7 85.9 60.3 seven airports.
consumption/ turnover in rupees)
Energy intensity (optional) — the relevant metric may be NA NA NA
NA
selected by the entity
The absolute energy consumption has increased due to Energy Intensity Energy-Efficient LED Lamp
the increase in the number of operational businesses for Our continuous focus is on reducing the energy intensity
AEL, which has grown from three last year to six for this of our businesses.
Installation Results in Significant
reporting year. Even for businesses that were operational (GJ/`Turnover) Savings
during the previous reporting cycle, there has been an Parameter FY 2022-23 FY 2021-22 FY 2020-21
increase in volumes. As part of our commitment to sustainability, we have
Energy Intensity per 229 309 217
rupee of turnover replaced traditional fluorescent, halogen, and metal
halide lamps with energy-efficient LED lamps. We
To calculate energy intensity, we considered the have replaced 43,783 LEDs across all airports.
annual turnover of six businesses in our reporting Our commitment to resource efficiency has resulted
boundary. For all the Intensity calculations, we in energy-saving measures and optimised processes.
have considered the annual turnover for only those We remain dedicated to promoting clean energy
businesses whose Environmental data has been used for and sustainability in all aspects of our operations.
reporting purposes. Through our continued efforts, we aim to contribute
to a greener future and to make a positive impact on
Due to the inclusion of new businesses in AEL leading to the environment.
an increase in annual turnover, we can see a significant
reduction. in overall energy intensity. Additionally, Mr. Sunil Kumar Chauhan
multiple energy conservation initiatives implemented
Head – Quality Assurance & Control
by AEL businesses have been instrumental in causing a
Solar Manufacturing
noteworthy reduction in overall energy intensity as well.

Emissions Management Overview of GHG Protocol scopes and Emission Intensity To ensure consistent comparisons, we have measured
emission intensity by calculating the amount of
Measuring and analysing greenhouse gas emissions emissions across the value chain The emission intensity (Scope 1 & 2) of three of the
energy emissions in GJ per unit of turnover. We had
(GHGs) serves as a vital indicator of a business’s climate key businesses within AEL as compared to last year is
a significant decrease in emission intensity for both
impact. GHG emissions are categorised into three scopes: presented below.
Solar Manufacturing and Airports businesses. However,
Scope 1, Scope 2, and Scope 3. As part of our steadfast CO2 CH4 N2O HFCs PFCs SF6 NF3
the emission intensity for Mining Services business
commitment to operationalise and achieve our climate
change goals, we undertook a rigorous exercise to map our Scope 2 Scope 1
Emission Intensity (GJ/LTurnover) shows an increase. Reason being that though the
INDIRECT DIRECT mineral production has risen, the turnover is lower for
Scope 3 emissions as a result of our value chain operations Mining Services business than the the previous year.
for four prominent businesses within our portfolio (Mining Nevertheless, when we consider the emission intensity
Scope 3 Scope 3
Services, Solar Manufacturing, Data Center, and Airports). INDIRECT
for the Mining Services business per unit of mineral
317
INDIRECT
295
This comprehensive approach enabled us to gain a
purchased
goods and
services leased assets
company
facilities
transportation investments production, we observe a reduction of 1%. This decrease
detailed understanding of our value - chain emissions
and distribution
can be attributed to the implementation of energy-

purchased electricity, steam,
heating & cooling for own use
capital employee
profile and empowers us to take informed actions to

goods commuting franchises
fuel and
company
vehicles
processing of
sold products
efficient practices within the business operations.
mitigate our environmental impact. By embracing energy related
activities
waste
business
travel
end-of-life
leased assets
this assessment, we proactively addressed the entire

transportation generated in use of sold treatment of
Greenhouse Gas Emissions – Scope 3 (Indirect)

and distribution operations products sold products
spectrum of emissions associated with our operations,

The GHG inventorisation related to Scope 3 emissions
50
24
further exemplifying our dedication to sustainability and Upstream activities Reporting company Downstream activities
39
11
was carried out with the support of an external agency
responsible corporate citizenship.
using reputable tools and references, including the IPCC
Source: GHG Protocol Technical Guidance for Calculating Scope 3
Emissions, WRI cross-sector tool (AR6), India GHG programme, GABI
Mining Solar Airports software, and the EPA simplified GHG emission calculator.
Services Manufacturing
Scope 1 and Scope 2 GHG Emissions (Metric tonnes of CO2 equivalent)

FY 2021-22 FY 2022-23
FY 2022-23 FY 2021-22 FY 2020-21
Scope 1 emissions (direct) 7,87,145* 6,92,537 4,72,445

Scope 2 emissions (indirect) 1,67,163 2,14,762 1,02,141
The following businesses were considered in the GHG
emissions inventory:
Emission intensity – Total Scope 1 and Scope 2 emissions per rupee of turnover 53 116 114
• Mining Services • Data Center
• Data for Scope 1 and Scope 2 in FY 2022-23 includes all six operational businesses of AEL, namely Mining Services, Solar Manufacturing, Data
Center, Airports, Roads and Water, and Defence and Aerospace) • Solar Manufacturing • Airports
• FY 2021-22 data covers the three operational businesses of AEL during that year: Mining Services, Solar Manufacturing, and Airports
• FY 2020-21 data includes Mining Services business and Solar Manufacturing only, as the Airport business became operational in the middle that
fiscal year
We are Disclosing Data as per these Scope 3 Categories which are Material to the Business
* 77% of our Total Scope - 1 emission is due to the fugitive emissions (methane) from our Mining Services. AEL is one of the few companies in the world to Solar Data Center
Mining Services Airports
report on methane emissions from the mining operations Manufacturing (Chennai)
Scope 3 categories
Purchased goods and services 27,633 10,38,807.08 7,132 -
In the Airports business, there has been a noteworthy FY 2022-23. This positive trend can be attributed to Capital goods 1,790 2,388.83 0.58 -
reduction in absolute emissions from 1,12,816 GJ in the installation of 1.6 MW of rooftop solar photovoltaic Fuel- and energy-related activities 17,892 20,315 1,675.82 44,961
FY 2021-22 to 66,818 GJ in FY 2022-23. This significant (PV) systems. Additionally, the utilisation of 13% green Upstream transportation and distribution 1 6,105.68 - 61,98,312
decrease is primarily attributed to the successful electricity from the grid has played a significant role Waste generated in operations 18 544.74 0.5 5,368
transition of Mumbai International Airport to 100% in driving down absolute emissions. These noteworthy Business travel 184 390.44 - 371
green electricity. Complementary measures such as the accomplishments underscore our commitment to Employee commuting 1,688.49 - 1,383
adoption of solar lights and the gradual replacement of implementing sustainable energy solutions and reducing Downstream transportation and distribution 86,599 6,896.31 - 82,705
airport-owned vehicles with electric vehicles (EVs) have our environmental footprint across the Airports and Solar Downstream leased assets - - 3,356 -
also contributed to the reduction in absolute emissions. Manufacturing businesses. By embracing innovative
The detailed inventory provides a baseline to design future decarbonisation pathways and strengthen the existing ones.
Likewise, the Solar Manufacturing business has achieved practices and leveraging renewable energy sources, we
a remarkable decline in absolute emissions, decreasing continue to make significant strides towards a greener
from 1,28,865 GJ in FY 2021-22 to 87,238 GJ in and more sustainable future.

Airport ACA Level 4+ Developing Hydrogen Fuel Cell Truck for Mining Logistics and
Mumbai Airport recently achieved the prestigious Airport Carbon Accreditation (ACA) Level 4+ certification, a Transportation
distinction shared by only three airports in Asia. This recognition highlights the airport’s remarkable efforts to
As part of our commitment to decarbonisation, FCmove™ fuel cell engine. Ashok Leyland, a leading bus
enhance sustainability and environmental performance. One key initiative implemented by the airport was the
we have entered into an agreement with Ashok manufacturer, will contribute to the vehicle platform
utilisation of offsets to achieve Carbon Neutral status. To accomplish this, Mumbai Airport chose to procure green
Leyland and Ballard Power to develop a hydrogen and technical support.
electricity from DISCOM, paying an additional tariff of 0.67 paisa per unit.
fuel cell electric truck (FCET) for mining logistics
The launch of the FCET in India is scheduled for
and transportation. This pioneering collaboration
2023, marking a significant milestone in advancing
will lead to the creation of Asia’s first hydrogen-
a hydrogen economy and positioning India at the
powered mining truck. Adani Enterprises, known for
forefront of this emerging technology. This partnership
its expertise in mining and green hydrogen projects,
demonstrates our commitment to innovative and
will lead the demonstration project, while Ballard, a
sustainable solutions for reducing emissions and
renowned fuel cell engine manufacturer, will supply the
reinforces our industry leadership.
Commissioning Electric Vehicle Conversion of Airport-owned Fossil

Charging Stations for Seamless Fuel Vehicles to Electric Vehicles
Transition As part of our commitment to achieving Net Zero,
we have taken significant strides in adopting cleaner
To facilitate the transition to electric vehicles (EVs)
transportation options for our business operations.
at our airports and among stakeholders, we have
In the current reporting period, our goal was to
commissioned electric vehicle charging stations
transition 40% of the airport-owned fossil fuel
(EVCS). On the land-side, we have installed DC fast
vehicles to EVs.
Category Key Emission Sources Proposed Reduction Measures chargers with a capacity of 60KW, featuring CCS2
Scope 1 Emissions Fuel emissions from airport-owned • Transition to EVs and explore green hydrogen/low- type chargers with dual guns. These chargers can We have committed to 100 % conversion of airport-
and/or outsourced vehicles energy consuming technology charge a car with a 20KW battery capacity from 0 owned fossil fuel vehicles to EVs (excluding CFTs,
• Installation of charging stations for EVs (EVCS) to 100% in just 60 minutes and a car with a 30KW QRT & ambulance) by 2025, out of which 40%
Refrigerant emissions from air conditioners • Conversion of high Global Warming Potential (GWP) battery capacity in 1.5 hours. transition achieved in FY 2022-23 . As a result, we
and chillers refrigerants to lower GWP refrigerants
now operate a fleet of 111 electric vehicles across all
Emissions from CO2 based fire extinguishers • Conversion of CO2 based fire extinguishers to non- To enable charging of passenger coaches and buses
CO2 based extinguishers
our airports.
on the air-side, we have installed both 60KW and
Scope 2 Emissions Consumption of electricity • Transition to green electricity 240KW chargers at Mumbai and Thiruvananthapuram By transitioning to electric vehicles, we are reducing
• On-site renewable energy generation Airports. These fast chargers can charge a bus with a our carbon footprint and making significant
• Improve energy efficiency at existing terminals 240KW battery capacity from 0 to 100% in 1.5 hours, progress in our journey towards sustainability and
ensuring reduced charging times and improved environmental responsibility. As we continue to
The decision taken by Mumbai Airport not only These actions pave the way for a more environmentally vehicle turnover. explore further opportunities for greener practices,
demonstrates its commitment to reducing its carbon conscious and responsible approach to airport our commitment to a cleaner and more sustainable
The total number of EV charging stations stands at
footprint but also highlights its dedication to promoting operations, emphasising the importance of sustainability future remains steadfast.
24 on the land-side and 8 on the air-side, providing a
the use of renewable energy sources. By proactively and encouraging other stakeholders to follow suit. significant boost to the adoption of electric vehicles
implementing measures to achieve ACA Level 4+ Mumbai Airport’s commitment to sustainable practices in our airport ecosystem.
certification, Mumbai Airport’s sets itself as a leading serves as an inspiration to the industry as a whole, driving
example in the region, show casing the potential for positive change towards a greener future.
sustainable practices within the aviation industry.

Emissions of Ozone Depleting Other Air Emissions Water Stewardship Water Withdrawal and Consumption
Substances (ODS) In our commitment to environmental compliance, While our businesses rely on diverse water resources
Water is an indispensable scarce natural resource. We are
As part of our comprehensive sustainability approach, we undertake regular monitoring of our air emissions, conscious of water consumption in our operations as well to meet their operational needs, we are aware of the
we place significant emphasis on not only managing ensuring strict adherence to the standards outlined as for domestic needs. We are taking steps to maximise importance of minimising our impact on shared water
energy and adopting renewable sources but also in our environmental permissions. To ensure accuracy water recycling/reuse and reduce our dependence on sources. To achieve this, we continuously evaluate
actively mitigating emissions from ozone-depleting and credibility, we engage third-party laboratories and fresh water resources. We are also committed to water and optimise our water withdrawal processes,
substances (ODS) and other air pollutants. Our agencies that have been approved by the State Pollution management outside our operational boundaries. Our aiming to implement efficient and sustainable water
commitment extends to implementing robust measures Control Board (SPCB) to conduct these monitoring Water Stewardship Policy further strengthens our water management practices.
to prevent the release of ODS and minimising the activities. The reports obtained from these exercises are management process. By actively adopting efficient water management
generation of other harmful air emissions. By prioritising consistently submitted to the respective pollution control
practices, we ensure that water is used judiciously and
these initiatives, we strive to contribute to cleaner air boards as part of our compliance obligations. Through
responsibly across our operations.
quality and a healthier environment for present and these measures, we actively strive to minimise the
future generations. impact of our operations on the atmosphere and uphold
environmental regulations. Water Withdrawal and Consumption (in KL)
FY 2022-23 FY 2021-22 FY 2020-21
(i) Surface water 9,67,136 NIL NIL
(ii) Groundwater 45,78,313 21,75,126 26,02,635
(iii) Third party water 17,54,943 5,88,881 6,13,080
(iv) Seawater / desalinated water 6,203 NIL NIL
(v) Others 10,950 NIL NIL
Total volume of water withdrawal (in KL) 73,17,545 27,64,007 32,15,715
(i + ii + iii + iv + v)
Total volume of water consumption (in KL) 73,17,545 27,64,007 32,15,715
Water intensity per rupee of turnover (Water consumed/turnover) 403.20 562 639
• FY 2022-23 data is for all the six operational businesses of AEL, namely Mining Services, Solar Manufacturing, Data Center, Airports,
Roads and Water, and Defence and Aerospace.
• FY 2021-22 and FY 2020-21 data are for the Mining Services and Solar Manufacturing operational businesses .
Water Intensity
The performance on water intensity varies across AEL
businesses. Mining Services business witnessed a
significant 23% reduction in water intensity
(per million tonnes of mineral production) compared to
FY 2021-22, highlighting our dedication to optimising
water usage in our mining operations. Additionally, the
Solar Manufacturing business achieved an impressive
30% reduction in water intensity (per rupee of turnover)
compared to FY 2021-22, emphasising our commitment to
sustainable practices throughout the entire value chain.
These achievements underscore our relentless pursuit of
water efficiency and responsible resource utilisation.

Water Recycling and Reuse Embracing Zero-Liquid Discharge for

As part of our commitment to sustainability, we have Sustainable Water Management
implemented robust wastewater recycling and reuse As part of our commitment to sustainable water
practices across multiple business units, including Mining management, we have implemented zero-liquid discharge
Services, Airports, and Solar Manufacturing. Through (ZLD) systems across our operations wherever applicable.
these initiatives, we aim to maximise water efficiency, ZLD involves comprehensive treatment and recycling of
minimise our reliance on freshwater sources, and reduce water within our facilities, ensuring that no untreated
our environmental footprint. wastewater is discharged into the environment. By
adopting ZLD practices, we have effectively minimised
Our businesses have effectively implemented
our water footprint and conserved water.
recycling systems, supporting the irrigation of
green areas in a positive and sustainable manner. At all of our mine sites, we have successfully
In the Mining Services business, wastewater plays implemented Zero Liquid Discharge, guaranteeing that
a crucial role in dust suppression. By utilising no liquid waste is discharged from our operations.
treated wastewater for this purpose, we achieve Furthermore, we have established a robust recycling
two important objectives: minimising environmental and reuse system for process water within the mining
impacts by reducing the release of dust particles into lease area.
the air and reduce consumption of fresh water for
In addition, at five of our airports (Ahmedabad,
this purpose. Furthermore, Solar Manufacturing has
Jaipur, Guwahati, Lucknow, and Mangaluru), we have
taken a commendable step towards sustainable water
implemented a dedicated mechanism for Zero Liquid
management by utilising all treated sewage from the
Discharge. We have installed state-of-the-art sewage
Sewage Treatment Plant for landscaping purposes. By
treatment plants (STPs) to effectively treat sewage,
repurposing this treated sewage, we not only conserve
and the treated water is then utilised for horticultural
freshwater resources but also ensure that the water is
Waste Water Management and Discharge purposes at the airports. This sustainable approach
put to beneficial use. Similarly, at our airports, treated
The quality of water discharged from our operations can have significant impacts on ecosystems, local communities. ensures that the treated water finds a valuable purpose
sewage is used for landscaping purpose.
As responsible environmental stewards, we adhere to prescribed standards set by regulators for effluent treatment. while minimising our environmental footprint.
We continuously monitor and manage the discharge of water from our operations to ensure compliance with These initiatives demonstrate our proactive approach
environmental regulations. By implementing effective effluent management practices, our goal is to minimise to water recycling and underscore our dedication to
potential negative impacts on water bodies and surrounding ecosystems. resource efficiency and environmental stewardship.
It resulted in recycling/reuse of 2,03,519 KL of treated
Waste Water Discharge by Destination and Level of Treatment (in KL) waste water in FY 2022-23.
FY 2022-23 FY 2021-22
(i) To surface water
- No treatment 0 0
- With treatment – please specify level of treatment 0 0
(ii) To ground water
- No treatment 0 0
- With treatment – please specify level of treatment 0 0
(iii) To sea water
- No treatment 0 0
- With treatment – please specify level of treatment 2,05,370 4,52,640
(iv) To send to third parties (municipal STP)
- No treatment 92,819 0
- With treatment – please specify level of treatment 2,477 0
(v) Others (recycle/reuse)
- No treatment 0 0
- With treatment – please specify level of treatment 2,03,519 0
Total water discharged (in KL) 5,04,185.66 4,52,640
• FY 2021-22 data indicates that the discharge is categorised only in ‘sea water’ category and the data is for Solar business which
discharges its treated effluent into sea after treatment for which necessary regulatory permissions are obtained
• FY 2020-21 data for wastewater discharge by destination is not available

Surface Runoff Management Waste Management

Green Car Wash Initiative with We prioritise waste management by implementing In the current financial year 82 % of our waste has been
CleanCart Initiatives at PEKB Mine industry best practices and exceeding regulatory saved from going to landfills though our efficient waste
requirements. Our aim is to minimise the negative management practices.
At Ahmedabad and Mangaluru Airports, we have Adani mine site PEKB operates in Hasdo-Arand
Coalfield, Sarguja District, Chhattisgarh. Exhibit impacts of improper waste handling by adhering to Some of the key initiatives include:
taken an eco-friendly approach to car wash with
water stewardship by doing surface runoff applicable environmental laws. All waste generated by
CleanCart. This mobile car wash facility uses only • Hazardous waste, such as used oil, empty oil drums,
management initiatives to conserve rainwater our businesses is carefully collected and segregated
1.5 litres of water to wash a car in approximately 20 and oil-soaked cotton waste, is carefully collected and
in reservoirs prepared for the purpose. However, at the source, categorised as either hazardous or non-
minutes, significantly reducing water consumption. sent to authorised recyclers for proper treatment
activities encompass coal washing and dust hazardous. We store these waste types separately
CleanCart’s portable design features a 40-litre tank,
suppression at stockyards, reject yards, and in designated waste storage yards, equipped with • E-waste generated, including batteries and damaged
sufficient to wash 25 cars in one filling, further
combined heat and power (CHP) plants. Rainwater pit chambers to prevent any liquid leakage into the solar panels, is returned to the Original Equipment
promoting sustainability. The car wash uses a special
collected in mine reservoir is pumped to coal washery surrounding environment. Manufacturers (OEMs) for repair or material recovery
eco-friendly formulation, and the wastewater is
disposed of in an environmentally friendly manner, reservoirs, ensuring a sustainable water supply for Our commitment lies in minimising waste generation • Mining overburden is repurposed and used for
emphasising our commitment to green practices. coal washing and dust suppression activities at its while maximising recycling and reuse efforts. Only backfilling within the mines, reducing waste generation
various operational sites. The collected water is waste that cannot be recycled or reused is sent and optimising resource utilisation
utilised for maintaining mine haul roads, supporting to authorised incinerators or landfills. We ensure • Bio/organic waste is effectively reused for biogas
horticulture initiatives, and developing greenery proper disposal through authorised recyclers and production, harnessing its potential as a renewable
belts within the mine and plant area. Moreover, the disposal facilities. By effectively managing waste, energy source
effective channelisation of rainwater through drain we reduce costs and environmental liabilities, and • To promote plastic bottle recycling, we have installed
lines, catch drains, garland drains, settling ponds at enhance our competitiveness and prepare for future three Reverse Vending Machines (RVM) at Mumbai and
different locations help manage and control the flow environmental regulations. Ahmedabad Airports, encouraging travellers to recycle
of water, minimising its water footprints and aiding
their plastic bottles
towards water conservation in the vicinity.
Through these initiatives, we aim to minimise waste,

prioritise recycling and repurposing, and contribute to a
more sustainable and circular economy.
Waste Generation
Total Waste Generated (in MT)
FY 2022-23 FY 2021-22
Plastic waste (A) 1,482 638
E-waste (B) 6 NIL
Bio-medical waste (C) 2 NIL
Construction and demolition waste (D) 27,942 NIL
Battery waste (E) 56 32
Radioactive waste (F) NIL NIL
Other hazardous waste (G) (mainly spent lubricating oil) 144 107
Other non-hazardous waste generated (H). (mainly mining overburden from Natural Resource 10,14,79,582 10,00,63,518
business).
Total (A+B + C + D + E + F + G + H) 10,15,09,214 10,00,64,295
• FY 2022-23 are for all the six operational businesses of AEL (Mining Services, Solar Manufacturing, Data Center, Airports, Roads and
Water and Defence and Aerospace)
• FY 2021-22 and FY 2020-21 are for the Mining Services and Solar Manufacturing businesses

Waste Diverted from Disposal

(Recycle/Reuse/Recovery) Organic Waste Management Solar Manufacturing Business Achieved a Remarkable Milestone by Selling
through Biogas Plant at TRV 100% of the Calcium Fluoride (CaF₂) Sludge and Won Golden Peacock
10,14,84,115 MT Airport Award
Waste diverted in Thiruvananthapuram International Airport adopts Solar Manufacturing business achieved a remarkable to the circular economy and the conservation of
FY 2022-23 a cradle-to-cradle approach to waste management, milestone by selling 100% of the CaF₂ sludge and won natural resources.
focusing on Refuse, Reduce, Reuse, Repurpose, and Golden Peacock Award.
The cost of disposal, in case the sludge is not sold
Recycle principles. With around 500 kg of organic
10,00,59,954 MT waste generated daily, we have implemented an
As a responsible corporate entity, Solar Manufacturing
business is committed to environmental sustainability
to recyclers, is estimated to be C 3,500 per metric
tonnes. However, through our successful sales to
Waste diverted in advanced Bioenergy Plant to treat this waste.
and takes pride in its efforts to save the environment. recyclers, we have generated approximately C 1.6 lakh
FY 2021-22
The Biogas plant converts the collected bio/organic In line with this commitment, we have successfully in revenue. This demonstrates the financial viability
waste into electricity using a 15KVA Biogas Genset, implemented a strategy to sell the sludge material and environmental benefits of our approach, as we had
which powers the in-house plant operations. The generated from our processes to recyclers. In the not only eliminated disposal costs but also generate
Total Waste Disposed
Biogas slurry generated from the process is used as FY 2022-23, we achieved a remarkable milestone by revenue through the sale of the sludge material.
We have robust mechanisms in place to handle and manure for horticultural purposes, ensuring a closed- selling 100% of the Calcium Fluoride (CAF2) sludge,
dispose of wastes which cannot be recycled or reused. Our commitment to environmental sustainability
loop waste management system. totalling 3,117 metric tonnes to recyclers.
extends beyond just minimising waste generation.
Quantity (MT) Quantity (MT) This initiative also aims to create awareness among The recyclers primarily utilise the CAF2 sludge as a By selling the CAF2 sludge to recyclers, we actively
Type of Waste FY 2022-23 FY 2021-22
the workforce, promoting waste segregation and raw material for wall putty production. This innovative contribute to resource conservation and promote
Incineration 15 01
management practices within their communities. approach not only reduces the burden on solid landfill the circular economy. We continue to strive towards
Landfill 5,354 NIL
Monthly sessions on waste segregation and sites but also promotes the recycling and reuse of innovative and sustainable practices that protect and
Other disposal 19,730 4,340 indigenous techniques further contribute to cleaner valuable resources in other industries. By offering the improve the environment while ensuring the long-term
operations lifestyle choices for our employees and broader sludge material to recyclers, we actively contribute success of our business operations.
Total 25,099 4,341 positive impacts on society.
Utilisation of Pond Ash in Road Construction

Disposal of pond ash generated by Thermal Power
Plants (TPP) is a great challenge. The ash is generally
stored in ash ponds in TPP which puts a huge
requirement on land and cause negative environmental
impacts. The Fly Ash Management Rules mandates
use of it in road construction, ash based products, soil
conditioner etc. The TPPs have to supply it free of cost,
including transportation cost, to users within 300 km
of TPP.
Taking this as an opportunity, our roads business

has started using pond ash for RE wall filling in road
construction. The plan is to use 8 MMT of it per year.
This leads to protection of top soil and other soil
which is generally used for this purpose. The other
benefits are in terms of preventing contamination
of air, water & soil as the use of pond ash in road
construction permanently locks the same. In addition
to environmental benefits, the business gets benefitted
financially too as pond ash is supplied free of cost by
TPP at the point of use.

Biodiversity Management Biodiversity Impact Assessment

Biodiversity management is a key focus area in our As part of our commitment to biodiversity conservation,
materiality assessment, reflecting our commitment we integrate Biodiversity Impact Assessment into
to responsible business practices and biodiversity the Environment Impact Assessment (EIA) process
preservation. We understand the importance of for both greenfield and brownfield projects requiring
addressing the impacts of our operations on biodiversity clearance from the Ministry of Environment, Forest
and have developed a comprehensive Biodiversity Policy. and Climate Change (MOEFCC) or State Environment
This policy serves as a guiding framework for identifying Impact Assessment Authority (SEIAA). Prior to project
and evaluating biodiversity-related impacts and risks at commencement, we conduct comprehensive baseline
project sites throughout their lifecycle. By adhering to studies on flora and fauna, focusing on endangered
this policy, our aim is to minimise our ecological footprint and nationally protected species within the project’s
and contribute to the conservation and sustainable influence area, as outlined in the EIA Terms of Reference.
management of biodiversity. We assess any potential impacts or risks to biodiversity
resulting from project activities.
Our Initiatives for Biodiversity Conservation
Biodiversity Management Plan
• Tree plantation targets: We have set ambitious
tree plantation targets to enhance green cover and A Biodiversity Management Plan is prepared based on the
support ecosystem restoration. By 2030, our goal is baseline study on biodiversity conducted for the project
to plant 15.39 million trees, with a particular focus on influence area and the likely impacts of the project on the
terrestrial plantations. biodiversity. This plan encompasses measures to protect
natural habitats, restore ecosystems, and enhance
• No net loss to biodiversity: We aim to align our no net-
biodiversity. The plan includes habitat protection,
loss to biodiversity approach with the TNFD framework
species protection, ecosystem restoration, stakeholder
to guide our efforts in preserving biodiversity. The
engagement, and monitoring. Through this plan, we are
Taskforce on Nature-related Financial Disclosures
committed to enhancing biodiversity, minimising negative
(TNFD) process for achieving no net loss to biodiversity
impacts, and contributing to the conservation and
involves a comprehensive and science-based approach.
sustainable use of biodiversity in our operating regions.
• Planning to be a signatory of India Business and
Biodiversity Initiative (IBBI): We are currently in the Compensatory Afforestation
process of becoming a signatory to the IBBI. This
For our Mining Services business, we have implemented
commitment demonstrates our active participation Tree Plantation: Pledge on 1t.org
compensatory afforestation. The plantation plan
in collaborative efforts with other businesses and
within the mine lease area, as well as compensatory The Adani Group has made a pledge on the World Economic Forum’s Trillion Trees Platform (1t.org) to grow 100 million
stakeholders to promote biodiversity conservation and
afforestation, is being finalised in consultation with State trees by 2030. The target for AEL is to grow 15.39 million trees by 2030 through terrestrial plantations. The tree
sustainable practices.
Forest Department (SFD). Progress is also monitored planting target is distributed across different businesses within AEL as shown below:
by the SFD. We carry out Sal tree plantations in the
backfield area and transplant trees with a girth size less AEL Business Till 2022 2023 2024 2025 2026 2027 2028 2029 2030 Total
than 60 cm within the mine lease area. Mining 10,21,264 227,000 8,43,760 9,24,885 7,64,500 8,92,500 14,94,400 16,78,400 18,25,400 96,72,109
Services**
Solar 20,547 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,547
Manufacturing
Airports 54,305 12,750 17,000 18,000 20,000 22,000 22,000 22,000 22,000 2,10,055
Roads and 72,000 5,00,000 5,00,000 5,00,000 5,00,000 5,00,000 5,00,000 5,00,000 5,00,000 40,72,000
Water
Data Center*
Defence and 1,864 1,25,000 1,25,000 1,25,000 1,25,000 1,25,000 1,25,000 1,25,000 1,25,000 10,01,864
Aerospace
Corporate 1,488 1,488
Offices
Total 13,02,817 9,07,500 15,24,260 16,04,885 14,44,500 15,72,500 21,74,400 23,58,400 25,04,400 1,50,18,063
* New business and targets for tree plantation are yet to be assigned
**This data represents detail till December 2022. The business has already achieved it. The targets has been already achieved as shown in
the the Decarbonisation Goals and Ambitions table.

Regulatory Compliance 7. Hazardous and other Wastes (Management &

Transboundary Movement) Rules, 2016
We recognise the importance of regulatory compliance
and the role it plays in ensuring responsible and 8. Manufacture, Storage and Import of Hazardous
sustainable business operations. As a business operating Chemical Rules
in various sectors, we adhere to a comprehensive 9. Solid Waste Management Rules, 2016
range of environmental regulations. We ensure that
all necessary permissions and approvals are obtained 10. Bio Medical Waste Rules, 2016
to meet these obligations. To monitor compliance 11. Plastic Waste Management Rules, 2016
effectively, we utilise the Legatrix software.
12. E-Waste Rules, 2016
Some of the key environmental regulations applicable to
our operations include: 13. The Construction and Demolition Waste
Management Rules, 2016
1. Environment clearance (EC)
Our commitment extends beyond mere compliance,
2. Coastal Regulation Zone (CRZ) clearance as we strive to excel and set a benchmark among our
3. The Water (Prevention and Control of Pollution) industry peers in terms of regulatory adherence and best
Act, 1974 practices. All AEL businesses have successfully met and
complied with all regulatory requirements pertaining
4. The Air (Prevention and Control of Pollution) to environmental laws. We are proud to report that
Act, 1981 no non-compliance actions have been taken against
5. Noise Pollution (Regulation and Control) Rules, 2000 any of our businesses in relation to environmental
regulations. Our commitment to regulatory compliance
6. The Environment (Protection) Act, 1986 reflects our dedication to conducting operations in an
environmentally responsible manner.
Green Building Excellence

The Chennai Data Center, operated by Data Center practices such as using chlorofluorocarbon (CFC) and
business, has received the prestigious IGBC platinum hydrochlorofluorocarbon (HCFC) free refrigerants
certification, making it the first data center building in in the heating, ventilation, and air conditioning
Tamil Nadu to achieve this distinction. The facility was (HVAC) system and installing CO2 sensors in non-
recognised for its outstanding green building features technical spaces. Water metering is implemented
and sustainability initiatives. for flushing, irrigation, and domestic use, optimising
water management.
To ensure superior air quality, the data center
incorporates MERV 13 filters for fresh air intake and Certified green building materials, including AAC,
MERV 8 filters for air handling units, achieving ISO glass, carpet, Forest Stewardship Council (FSC)
class 8 cleanliness standards. Water conservation certified wood, and gypsum, are utilised, along with
measures have resulted in a remarkable 44% reduction low volatile organic compound (VOC) paints, adhesives,
in water usage through the implementation of low flow and sealants to ensure a healthy indoor environment.
fixtures and a STP. The construction of the data center Additionally, the data center demonstrates its
utilises AAC blocks with flash content, while 15% of commitment to renewable energy by installing a
the plot area is dedicated to green cover, promoting rooftop solar system.
environmental biodiversity.
The Chennai Data Center sets a significant precedent
The facility is designed to be inclusive with in the industry, exemplifying the possibilities of
features that cater to individuals with disabilities. sustainable and eco-friendly practices in data
Furthermore, it adopts environmentally friendly center operations.

Social
Our workforce is our prime
asset, powered by enriched
human capital. We cultivate a
thriving work culture, prioritise
harmonious collaboration, and
empower inclusive growth.
Through equal opportunities,
competitive rewards, safety, and
skill development, we enhance
well-being. Our commitment
extends to community
upliftment, customer focus, and
responsible supply chains.
In this section
96 Employees
118 Customers
121 Suppliers
124 Communities
UN SDGs aligned

Social-Employees Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Nurturing Our Human Capital
Management Approach management relations extends beyond the workplace. We

actively engage with labour unions, industry associations,
We believe that fostering collaborative workforce
and other stakeholders to foster a conducive and
management relations is vital to creating a harmonious
inclusive ecosystem that supports the well-being and
and productive work environment. Our commitment to
professional development of our workforce.
nurturing these relationships is a cornerstone of our
organisational ethos driving sustainable growth and As valued members of the AEL family, we prioritise our
achieving our collective goals. employees’ well-being, growth, and development. We are
committed to providing equal opportunities to all our
Through regular interactions, we strive to understand
employees, ensuring a level playing field where talent and
the needs and aspirations of our workforce, ensuring
hard work are recognised and rewarded. Our industry-
their voices are heard and valued. We recognise the
leading compensation and rewards system is designed
importance of addressing their concerns, respecting
to attract, retain, and motivate top talent. We believe
their rights, and providing fair and equitable treatment
that when our employees feel valued and adequately
to all employees. To further strengthen workforce
compensated, they are empowered to perform at their
management relations, we have established robust
mechanisms for dispute resolution, freedom of
best, driving both individual and organisational success. Embracing Versatility: Unveiling Our Diverse Workforce
Ensuring a safe and conducive working environment is a
association and collective bargaining. We take pride in our diverse workforce, which includes In addition to our permanent workers, we also recognise
top priority for us. We strictly adhere to stringent health,
employees with various talents, experiences, and the importance of embracing a diverse range of talents
We prioritise employee engagement initiatives that hygiene and safety standards, implementing robust
backgrounds. We believe in being inclusive and treating and skills from our contractual workforce. They play a
foster a sense of ownership, collaboration, and shared policies and procedures to safeguard the well-being of
all employees equally, regardless of their work profile. crucial role in our operations, and we provide them with
responsibility. These include promoting employee our employees. By creating a culture of safety and well-
Our permanent workers bring stability, expertise, and fair employment opportunities.
participation in decision-making processes, encouraging being, we aim to foster an atmosphere where employees
dedication to our organisation. We prioritise their growth,
teamwork, and recognising and rewarding outstanding can thrive and contribute effectively. We are committed to achieving gender equality and
well-being, and job security by providing a supportive
contributions. Multiple initiatives are undertaken strive to have a balanced representation of male and
Continuous learning and development are integral environment where they can succeed and contribute to
to promote employee well-being. Our Human Rights female employees across all levels of our organisation.
to our employee growth strategy. We provide ample our shared success.
policy, due diligence and assessment process ensures This reflects our dedication to creating a workplace that
opportunities for skill enhancement and career
that we are aligned to national and global practices. is fair and inclusive for everyone.
advancement through needs-based trainings,
Our commitment to nurturing collaborative labour
workshops, mentoring, and leadership development
Workforce Diversity
programmes. We believe in nurturing a learning culture
that encourages innovation, creativity, and professional
Category Employees
growth. To effectively manage our growing workforce,
we are placing emphasis on the digitalisation of our FY 2022-23 FY 2021-22
HR processes. The advanced digitalised HR system Male Female Total Male Female Total
enables us to have real-time visibility of our workforce Permanent employees 5,222 509 5,731 3976 285 4261
across distinct locations, streamlining communication,
Other than permanent
collaboration, and decision-making processes. 214 60 274 183 64 247
employees
As we continue to expand our businesses and strive for Total employees 5,436 569 6,005 4159 349 4508
sustainability, innovation, and operational excellence,
we recognise the need to attract and retain exceptional
talent. We actively seek out individuals who share our Category Workers
values, possess diverse skills, and have the drive to FY 2022-23 FY 2021-22
contribute to our collective success. By fostering a
Male Female Total Male Female Total
culture of inclusivity, collaboration, and empowerment,
Permanent workers 836 80 916 710 80 790
we create an environment where our employees can
thrive and realise their full potential. Other than permanent
14,004 1,711 15,715 12,690 1,431 14,121
workers
Total workers 14,840 1,791 16,631 13,400 1,511 14,911

Diversity, Equity, and Inclusion Rewarding Excellence: Remuneration Details Focus on Equal Pay By focusing on the return on our HCI, we can make
Average increase in remuneration of employees excluding informed decisions regarding resource allocation,
Our comprehensive Diversity, Equity, and Inclusion Policy The compensation at AEL is commensurate with specific
Key Managerial Personnel(KMPs) is 12%. Average increase talent acquisition strategies, and talent development
(DEI) ensures that everyone is treated with equal rights skills and experience and is not related to gender. The
in remuneration of KMPs is 12.29%. KMP salary increases initiatives. This enables us to create a high-performing
and respect, regardless of their gender, ethnicity, race, fact that at some levels males are higher paid and in
are decided based on the Company’s performance, and engaged workforce that drives our business forward.
religion, marital status, or disability. To ensure the effective some, the women, reflects that remuneration at AEL is
individual performance, inflation, prevailing industry Through our continuous efforts to enhance the return
implementation of our DEI policy, we take immediate and gender neutral.
trends and benchmarks. on our human capital investment, we aim to create a
appropriate action to any incidents of policy violations Average Compensation Ratios By Work Level thriving organisational culture that attracts top talent,
reported. As a result of our efforts, we are proud to report Category Female Male fosters growth and innovation, and delivers value to
that no cases of discrimination were recorded during the Supervisory 100.7 100.0 our stakeholders.
reporting period. Managing Self (MS) 97.2 100.0
Managing Others(MO) 103.6 100.0
Empowering women and fostering their leadership
development is a key focus for us. We are committed to
Managing Manager(MM) 93.0 100.0 Return on Human Capital Investment (L)
Function Managers(FM) 160.7 100.0
supporting women on their journey to leadership and
Business Managers(BM) 88.2 100.0
empowering them every step of the way. Through our
Business Heads(BH) 0.0 100.0
Women Connects initiative (BeConnected), we provide
6.7
a platform for women employees to come together
Return on Human Capital Investment
regularly, facilitating learning, sharing, and contributing
on a broader scale. The return on Human Capital Investment (HCI) provides
6.0
a means of measuring our Company’s profitability in
4.7
In addition to DEI policy, we have guidelines for
5.9
relation to total employee costs. It is derived by removing
employment of differently-abled people. This provides non-employee costs from overall operating costs and
a broader framework of AEL’s diversity and inclusion deriving the resulting operating profitability. This metric
efforts. It reflects organisation’s no tolerance of ascribing provides a view into the degree to which economic value
stigma and/or discrimination of any kind because of is derived by looking at profitability solely in relation to
disability of any type to any member of society. We have human capital costs.
a focussed approach towards hiring of differently-abled We have prioritised integrating sustainability into our FY 2018-19 FY 2019-20 FY 2020-21 FY 2022-23
people and are encouraging their onboarding into the human resources practices, fostering a sustainable
system. work culture, and ensuring employee well-being.
We are committed to the professional growth
AEL does not discriminate in employment opportunities
of our workforce through structured learning &
or practices based on race, colour, religion, disability,
development programs, knowledge-sharing platforms
national origin, genetic information, age, sexual
and cross learning projects. Furthermore, we actively
orientation, gender, marital status, or any other
engage with local communities and stakeholders to
characteristic protected by applicable law. Our policy of
address social and environmental concerns. Together,
non-discrimination in employment applies to recruitment,
we will continue to enhance our sustainability efforts
hiring, compensation, promotions, transfers, discipline,
for a more sustainable future.
terminations, access to benefits and training and all
other aspects of employment.
Mr. Amitabh Mishra
Key DEI Metrics Head HR - Adani Natural Resources
Diversity Indicator Percentage

Share of women in total workforce 9.48%
(as % of total workforce)
Share of women in all management positions, 9.48%
including junior, middle and top management
(as % of total management positions)
Share of women in top management positions, i.e., 1.48%
maximum two levels away from the CEO or comparable
positions (as % of total top management positions)

Talent Attraction and Retention Human Capital Development Key Leadership Programmes
We understand that talent attraction and retention We are dedicated to creating a culture of continuous Programme Target
Name Group Description Benefits
are essential for achieving sustainable growth and learning and development (L&D), enabling our workforce
Fulcrum CXO level The objective is to develop internal talent that • Improve synergy and functioning
maintaining a competitive edge in the industry. We focus to acquire new skills, knowledge, and mindset required leaders is aligned to the current and future business among businesses
on attracting top talent, fostering their development, to tackle future challenges, seize opportunities, and needs while at the same time fulfil the aspirations • Build diverse teams across business & leverage
and ensuring their long-term retention within contribute to the overall success of the Company. By of high potential talent in the Group. It is a speed of trust in decision making
the organisation. unlocking the excellence within our workforce, we strive 9-month programme. The inaugural batch started
in September 2022 in which 9 leaders from AEL • Develop leadership skills & ability to handle
to create a high-performing organisation that drives participated. stress, ambiguity
We employ a variety of recruitment channels, including
sustainable growth. We follow a structured approach, • Overall personality development, improvement in
online job portals, social media platforms, professional other competencies
which ensures a systematic and effective L&D covering
networks, and campus hiring programmes. We encourage
various aspects of human capital development. Takshashila Senior level A 12-month programme that prepares participants • To develop leadership skills
our current employees to refer potential candidates who managers for leadership excellence. It includes classroom • Everyone from Takshashila 1 has moved up and
embody our values and possess the desired skills. Internal The L&D programme fosters a culture of continuous learning, interactive sessions, 360-degree feedback, taken up roles and responsibilities which are two
Job Postings (IJP) is another way by which jobs are learning and professional growth. We partner with action learning projects, and individual coaching levels/grade higher than their roles when attended
posted for application by in-house employees who would strategic and renowned educational institutions and sessions. the programme
like to progress their careers or opt for more attractive professional organisations to offer cutting-edge training Takshashila 2.0 is currently in progress in which 14
employees of AEL are participating. In Takshashila
roles and positions. and certifications. Our training suite includes behavioural 1, 11 employees from the business had undergone
training, soft skills development, training related to training.
We are continuously expanding our workforce to meet
Environmental, Social, and Governance (ESG) practices NorthStar Middle level An 11-month journey aimed at developing future • Overall improvement in all the competency and
the growing demands and challenges of our dynamic
etc. The L&D programmes are designed for various levels managers leaders who are agile to adapt successfully in dimensions of Adani Behavioral Competency
business environment. For the reporting period, a rapidly changing world, work environment Framework (ABCF) when compared before and
of management. In addition, subject specific trainings are
we welcomed a total of 2,705 new employees into and various organisational requirements. It after the program through pre & post programme
organised to develop awareness, knowledge and skills. covers business cycles, financial and people 360 Leadership Development Survey
our Company.
Our e-Learning initiative, e-Vidyalaya, in collaboration with management, communication skills, and strategic • The relative combined attrition rate in the 4
Skillsoft, offers anytime, anywhere access to immersive needs. It has already completed three cohorts. cohorts till date since 2017 is half of the attrition
New Employee Hires
learning through the Percipio platform. In FY 2022-23, a total of 46 AEL employees across the Group
Consolidated completed this training. • 21% of the NorthStar participants till date have
Within our organisational culture, mentorship and coaching been elevated at least 2 levels/grades or above in
FY 2022-23 FY 2021-22 FY 2020-21
Age play an integral role as well. Our senior leaders actively the organisation
Category Group Male Female Male Female Male Female
engage in mentoring relationships, offering guidance • 18% of the participants have moved into different
Junior <30 768 126 600 145 95 9
and support to our team members. This commitment to businesses from the ones they were when
Mngt. 30-50 877 49 1,100 188 93 22 attending the programme
mentorship fosters career growth, nurtures leadership
>50 11 0 65 20 5 1 e-Vidyalaya All regular An online e-learning initiative in collaboration • Knowledge building on a diverse range of topics
capabilities, and builds strong employee loyalty.
Middle <30 43 4 12 2 2 0 Learning employees with Skillsoft. relevant to the building
Mngt. 30-50 635 26 530 48 75 18 Provides access to a digital learning portal,
>50 53 1 80 6 18 1 Percipio, with a wide range of learning resources
Senior <30 0 0 0 0 1 0 in business, productivity, collaboration, and digital
Mngt. 30-50 59 4 78 4 12 6 transformation.
>50 48 1 66 4 19 8 In FY 2022-23, a total of 223 AEL employees
completed different online training modules.
We recognise that attracting the best talent is vital for
driving innovation, enhancing productivity, and achieving
Adani NorthStar 4.0: Empowering Skill Enhancement Programmes
our strategic objectives. As our organisation ventures
into fostering sustainability, innovation, and operational Future Leaders through Owner- Details of training given to employees and workers:
excellence, we are concurrently expanding our Manager Programme FY 2022-23 FY 2021-22
workforce. In our pursuit of sustainable growth, retaining The Adani NorthStar 4.0 programme is dedicated On Health & Safety On Skill On Health & Safety On Skill
Total (A) measures Enhancement Total (D) measures Enhancement
top talent remains a critical aspect of our strategy to nurturing agile and adaptable leaders who
Category No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
as well. We believe that by creating an environment can thrive in the face of rapid change, diverse
Employees
that nurtures talent, supports career progression, and work environments, and evolving organisational Male 5,436 3,085 56.75% 3,755 69.08% 4,159 1,927 46.33% 2,941 70.71%
recognises and rewards achievements, we can ensure demands. This comprehensive initiative focuses Female 569 170 29.88% 252 44.29% 349 105 30.05% 185 53.01%
long-term retention. on learning interventions designed to bolster Total 6,005 3,255 54.20% 4,007 66.73% 4,508 2,032 45.08% 3,126 69.33%
employees’ technical, functional, and regulatory Workers
expertise, thereby enhancing their overall capacity Male 14,840 9,896 66.68% 5,510 37.13%
and capability. Female 1,791 633 35.34% 434 24.23% _
Total 16,631 10,529 63.31% 5,944 35.74%

Employee and Workers Well-being Measures

Lucknow Airport’s HR Team Adani Enterprises aims to create an inclusive and working parents. We take pride in celebrating festivals
Spreads Joy at Labour Colony supportive work environment where employees can and significant days such as Mother's Day, Father's Day,
thrive both personally and professionally. Caring for the International Women's Day, and International Yoga Day.
To strengthen community ties and spread
holistic well-being of our employees is of paramount
goodness, Lucknow Airport’s HR team initiated a We believe in fostering a healthy lifestyle among our
importance to us. By providing comprehensive employee
special monthly volunteering project. The project employees. To encourage physical fitness and overall
support programmes, including various benefits,
brought together several employees to celebrate well-being, we offer sport and health initiatives such as
flexible work conditions, and family-friendly policies,
their birthdays with the children of hardworking fitness classes, sports facilities, wellness challenges, and
we aim to create an inclusive and supportive work
labourers residing in the labour colony at the T3 access to health-related resources. We offer parental
environment where employees can thrive both personally
construction site. leave options to support employees during the preliminary
and professionally.
stages of parenthood. We understand the importance
The event was filled with delight as employees
We offer flexible working hours and remote work options of managing workplace stress and promote initiatives to
and children gathered to cut the birthday cake
when needed, prioritising their health and work-life support our employees' mental and emotional well-being.
together. As the celebrations unfolded, the children
balance. Regular health check-ups, comprehensive To promote an environment where we feel connected,
shared their dreams and aspirations, creating a
health insurance coverage for employees and their engaged, supported and belonged to the organisation, we
heartwarming and memorable experience for all
families, provision of childcare facilities exemplify our have launched the Emotional Wellness programme under
involved. The highlight of the initiative was a splendid
commitment to creating a nurturing environment for the Adani Cares platform with support partner as ICAS
dance performance by the children, highlighting
(Independent Counselling & Advisory Services).
their talents and bringing smiles to everyone’s face.
To further add to the joyous occasion, the airport
employees distributed various goodies and drawing Employee Well-being Measures
kits to the children, making the day even more special Health Insurance Accident Insurance Maternity Benefits Paternity Benefits Day Care Facilities
for them. Number Number Number Number Number

% (B/A) % (C/A) % (D/A) % (E/A) % (F/A)
Category Total (A) (B) (C) (D) (E) (F)
Permanent Employees
Male 5,222 5,222 100% 5,222 100% - - 5,222 100.00% 810 15.51%
Performance Appraisal Female 509 509 100% 509 100% 509 100% - - 138 27.11%
We have implemented a robust Performance Onboarding and New Employee Total 5,731 5,731 100% 5,731 100% 509 8.88% 5,222 91.12% 948 16.54%
Management System (PMS) to ensure clarity and Other than Permanent Employees
transparency in every step of the process and set
Orientation (NEO) in Airports Male 214 214 100% 214 100% - - 214 100.00% 133 62.15%
clear expectations for the workforce. This process Business Female 60 60 100% 60 100% 60 100% - - 52 86.67%
encompasses various activities such as performance Total 274 274 100% 274 100% 60 21.90% 214 78.10% 185 67.52%
The need for identified interventions and programmes
measurement, year-end review, rating and promotion
is an outcome of a need diagnostic study and
recommendations, moderation, and individual feedback.
focus group discussions conducted with the senior Worker Well-being Measures
We utilise the bell curve performance appraisal, also known leadership team. All new joiners undergo a detailed Health Insurance Accident Insurance Maternity Benefits Paternity Benefits Day Care Facilities
as forced ranking or forced distribution, to assess and Onboarding and New Employee Orientation (NEO) to Number
% (B/A)
Number
% (C/A)
Number
% (D/A)
Number
% (E/A)
Number
% (F/A)
Category Total (A) (B) (C) (D) (E) (F)
compare employee performance within specific categories. orient them towards the Airports business, HR policies,
Permanent Workers
This method involves comparing individuals based on ESG strategy, and Customer Service vision. In addition
Male 836 836 100% 836 100% - - 836 100.00% 315 37.68%
their performance, competencies, and achievements. to the NEO, the new joiner also undergoes more than
Female 80 80 100% 80 100% 80 100% - - 71 88.75%
The ranking process helps identify high performers, areas 15 business orientation courses over a 3-month period
Total 916 916 100% 916 100% 80 8.73% 836 91.27% 386 42.14%
for improvement and informs decisions on promotions, on various topics, i.e., Air-side Safety, Cargo, Terminal
Other than Permanent Workers
rewards, and career development. The bell curve Operations, Regulatory Compliance, etc.
Male 14,004 13,409 95.75% 14,000 99.97% - - 12,054 86.08% 6,943 49.58%
method allows for effective differentiation of employee
By offering a comprehensive and structured learning Female 1,711 1,639 95.79% 1,711 100% 1,711 100% - - 1,149 67.15%
performance and identification of high and low performers.
experience, the programme equips new employees Total 15,715 15,048 95.76% 15,711 99.97% 1,711 10.89% 12,054 76.70% 8,092 51.49%
All the eligible employees, including permanent workers, with the necessary knowledge and skills to contribute
undergo an annual performance appraisal process effectively to the organisation.
as prescribed by the Company. For non-permanent
workers, their performance evaluation is conducted
by the contractors based on the conditions outlined in
the agreement.

Non-occupational Health Offerings

Employee Engagement helping them to gain a comprehensive understanding of
our operations and support them to progress further in
We place a strong emphasis on the health and well-being of our employees, as evidenced by our comprehensive
We commit to fostering an environment of active their professional career.
range of corporate healthcare services. These offerings encompass a wide spectrum of care from preventative
participation, where every team member can thrive
measures to curative services with the goal of promoting employee health and providing crucial support during Our monthly and quarterly reward and recognition
and unleash their full potential. Through a multitude
medical emergencies. programmes, including prestigious accolades like the
of initiatives, we ensure that our workforce remains
connected and inspired. Our resolute HR team Employee Spot Award and Employee of the Month, foster
orchestrates an array of engaging activities throughout a culture of appreciation and motivate our workforce
the year, designed to in still a sense of belonging and to go above and beyond. Our Long Services Awards
Key Initiatives recognise completion of 10+ years with the Company and
involvement. From captivating induction programmes
and enlightening town hall meetings to inspirational honour the employee for his/her dedicated commitment.
Preventive Health Initiatives Health Awareness leadership talks and skill-enhancing trainings, we create We regularly engage with the employees and conduct
a supportive atmosphere that fuels growth. We have a comprehensive surveys to assess job satisfaction,
• Thorough medical assessments for • Promoting holistic well-being through Emails,
system of focused approach on employee communication sense of purpose, happiness, and stress levels among
a healthy workforce Webinars, and Seminars
through People Comms. Programme such as our employees. By understanding their experiences, we
• Robust guidelines and convenient • In-house allied services for clinical consultations, Be-Limitless, Adani Accelerated Leadership Programme aim to enhance their well-being and create a positive
health checkups physiotherapy, yoga, and dietary advice (AALP), provide an exceptional opportunity for talented work environment. We evaluate job satisfaction, internal
individuals to get exposed to diverse business functions, motivation, and the impact of work on our broader goals.
In-house Allied Services Tele-Consultation Services

• Continuous wellness promotion through in- • Convenient access to expert medical advice
house allied services • Curative and preventive healthcare, second
• Comprehensive support for employees’ opinions, and family consultations
medical exigencies
Clinical Support during Hospitalisation

• Monitored hospitalisations and personalised
medical support
• Guidance and assistance to employees and
their families during hospitalisation

Human Rights
We maintain a strong commitment to upholding essential
human rights across all our businesses. We believe that
respect for human rights is integral to our core values
and corporate responsibility. Through a culture of
accountability and continuous improvement, we strive
to create a positive impact on human rights within our
organisation and the communities in which we operate.
We identify and protect vulnerable areas through
rigorous assessments and monitoring.
Our Human Rights policy is guided by internationally

recognised frameworks, including the Universal
Declaration of Human Rights, the International Labour
Organisation (ILO) Declaration on Fundamental
Principles and Rights at Work, and the United Nations
Guiding Principles on Business and Human Rights. The Our commitment to human rights covers a wide range of
policy aims to address existing concerns and adopt a areas, including but not limited to:
proactive approach through due diligence. It applies to
all stakeholders involved in our operations, including 1. Labour rights: We are dedicated to promoting fair
employees, associates, customers, contractors, and and safe working conditions for our employees
service providers. and contractors. We comply with labour laws and
regulations, ensuring that our workforce is treated
We emphasise compliance with legal provisions and with dignity and respect. We prohibit any form of
guidelines that safeguard and promote human rights. All forced labour, child labour, and discrimination in
our businesses continually strengthen and implement our operations.
systems to effectively execute our human rights
policy, and we are dedicated to adopting and adapting 2. upply chain responsibility: Our Supplier Code of
S
the SA8000 standards framework to align with our Conduct includes provisions related to human rights,
organisational goals and requirements. and we work closely with our suppliers to ensure
Transition Assistance Programme
their compliance with human rights’ standards.
In line with business needs and post-retirement, we Recognising Exemplary Employees: The Group HR function, in collaboration with Business We strive to partner with suppliers who share our
retain distinguished employees as advisors/consultants. HR, plays a crucial role in addressing these matters.
Furthermore, we prioritise continuous skill enhancement
#ChampionsofGoodwill commitment to respecting human rights.
by providing various training programmes to our At our organisation, we understand the pivotal Human Rights Commitment 3. Community engagement: We engage with local
employees throughout their tenure, ensuring their role played by our employees in bringing goodness communities in a transparent and respectful
Our commitment to human rights extends throughout our
ongoing employability and professional growth. and integrity to our customers. In line with this, we manner, respecting their cultural heritage, land
organisation and is not limited to a specific department
take great pride in rewarding and recognising our rights, and livelihoods. We work collaboratively
or business unit. We have established a comprehensive
Freedom of Association and Collective champions who have exemplified honesty, integrity, with communities to understand and address any
company-wide policy that outlines our commitment to
Bargaining and dedication in their actions. human rights concerns that may arise from our
respect and protect human rights in all aspects of our
operations. We prioritise meaningful consultation
We actively engage with labour unions, industry These exceptional employees lead by example, operations. This policy serves as a guiding framework for
and ensure that communities have access to
associations, and other stakeholders to create a demonstrating commitment and dedication to our employees, contractors, suppliers, and stakeholders,
grievance mechanisms.
conducive and inclusive ecosystem that supports their work. We celebrate their contributions and ensuring that human rights considerations are integrated
the well-being and professional development of its acknowledge their outstanding acts of goodwill. into our decision-making processes. We integrate human 4. on-discrimination and equal opportunities:
N
workforce. While Trade Unions exist in the Airports rights considerations into our procurement practices, We promote a diverse and inclusive workplace
business, other Business Units like Data Center, Defence As a token of our appreciation, we extend a heartfelt recruitment processes, employee training, and regular where everyone is treated fairly and has equal
and Aerospace, Solar Manufacturing, Mining, Roads, felicitation to these remarkable individuals. Their assessments to create a responsible and ethical business opportunities for growth and development. We value
and Water have alternative communication channels for stories of honesty and integrity will be shared on our environment that respects and promotes human rights at diversity and strive to eliminate discrimination based
employee engagement. A dedicated team facilitates the social media platforms, inspiring others and spreading every level of our operations. on factors such as race, gender, religion, disability, or
collective bargaining process, specifically in the Airports positivity throughout the organisation. sexual orientation.
Business Unit, ensuring effective communication
and negotiation.

Human Rights Due Diligence Process Human Rights Indicators for Assessment a specific focus on Human Rights awareness. This
session covers important aspects such as Prevention Of
We regularly assess and map potential human rights Across all our business units, we have a mandatory
risks and impacts across our operations to address them age verification process during recruitment to prevent 100% Sexual Harassment (POSH) and the Code of Conduct.
There is a mandatory online training module on POSH
proactively. This enables us to take preventive measures the engagement of child labour and ensure a safe Plants and offices assessed for
which all employees need to complete. While our
and mitigate any adverse effects on human rights. We are and ethical work environment. During induction, we Human Rights Indicators*
Company already organises various awareness and
committed to continuously improving our human rights educate employees on business ethics and human
training programmes to address different human rights
performance and aligning our actions with internationally rights, fostering a culture of respect and compliance. We *Assessment carried out (by Entity or statutory authorities or third
parties) for the indicators; Child labour, Forced/involuntary labour, elements, we are further strengthening our approach to
recognised principles. Compliance with regulatory remain vigilant to identifying any other emerging human
Sexual harassment, Discrimination at workplace and Wages. human rights training and engagement. This includes
requirements and the protection of human rights are rights concerns.
the implementation of a digital platform to better track
prioritised in our business operations. We have robust
To uphold human rights, we have implemented a Training on Human Rights and record training hours dedicated to ESG, including
systems in place to ensure adherence to labour laws and
comprehensive Supplier Code of Conduct that covers As part of our learning and development strategy, human rights, for different categories of employees,
human rights standards. Through training, awareness
various aspects of human rights. Our procurement we guarantee that all employees have access to including workers.
programmes, and regular reviews, we cultivate a culture
agreements with suppliers include conditions related to comprehensive Human Rights training. Relevant
of respect for human rights among our employees During the reporting period, 72.21% of our employees and
labour standards and occupational health and safety. e-modules are available in our learning management
and stakeholders. 50.91% of our workers completed training courses on
These measures ensure that our suppliers align with our tools to cover important topics. Every month, during the human rights.
We have established a company-wide due diligence commitment to upholding human rights throughout the induction session for new employees, we include
process to proactively identify and assess potential supply chain. During the vendor onboarding process, we
human rights impacts and risks. Our due diligence screen human rights criteria through our online ARIBA
process covers a range of human rights issues including portal. This helps us assess potential vendors’ adherence Employees and Workers who have been Trained on Human Rights
forced labour, child labour, freedom of association, to human rights principles before entering partnerships.
FY 2022-23 FY 2021-22
right to collective bargaining, equal remuneration, Current Financial Year Previous Financial Year
and discrimination. We consider risks within our own Human Rights Assessment No. of No. of
operations, as well as risks within our value chain and employees employees/
To continuously monitor and improve our human rights Total (A)
/workers
% (B/A) Total (C)
workers covered
% (D/C)
related activities. We also evaluate potential human performance, we regularly assess all Adani plants and Category covered (B) (D)
rights implications when establishing new business offices across various human rights parameters. The Employees
relations. To ensure the effectiveness of our due assessments allow us to identify areas for improvement Male 5,731 4,111 71.73% 4,261 1,710 40.13%
diligence, we conduct systematic periodic reviews of our and take appropriate actions to mitigate any risks or Female 274 225 82.12% 247 155 62.75%
risk mapping to stay updated on potential issues and take issues related to human rights. We found 0 cases in Total 6,005 4,336 72.21% 4,508 1,865 41.37%
appropriate actions. which risks were identified or required mitigation. Workers
Male 916 910 99.34% 790 336 42.53%
Female 15,715 7,557 48.09% - - -
Total 16,631 8,467 50.91% 790 336 42.53%
Grievance Redressal
Addressing grievances promptly and diligently is an integral part of our employee relations strategy. We have
established a robust mechanism to manage conflicts for swift resolution of conflicts, nurturing a harmonious
work environment, and foster a culture of open communication, ensuring that our employees’ concerns are heard,
acknowledged, and swiftly addressed. AEL has implemented the online Grievance Redressal Process called “SPEAK
UP” to address employee grievances promptly.

Complaints Received and Redressed Our IT infrastructure and information security Trainings and Awareness Building
FY 2022-23 FY 2021-22
management system are ISO 27001 certified. We have We invest in trainings and awareness building exercises
Grievance Redressal Number of Number of established policies and procedures aligned with to build capacity of our employees in cyber security and
Mechanism in Place Number of complaints Number of complaints international standards, such as ISO-27001 to maintain related threats. The Company ensures that all employees
(Yes/No) (If Yes, then complaints pending complaints pending
provide web-link for filed during resolution at
Remarks
filed during resolution at
Remarks business continuity in the event of disasters or cyber are equipped to identify, prevent, and respond to cyber
Stakeholder groups from whom grievance redress the year close of the the year close of the incidents. External auditors have conducted audits of our threats effectively.
complaint is received policy) year Remarks year IT infrastructure and information security management
Communities Yes NIL NIL NIL NIL NIL NIL systems. As part of our comprehensive cyber security Following initiatives are taken:
Investors (other than Yes NIL NIL NIL NIL NIL NIL strategy, we conduct third-party vulnerability analysis
shareholders) • Mandatory online course on cyber security awareness
known as Vulnerability Analysis and Penetration Testing
Shareholders Yes 25 1 #
8 0 NIL • Online training module on digital safety
(VAPT). This analysis helps identify and address potential
Employees and workers Yes NIL NIL NIL NIL NIL NIL • Regular awareness mails to all employees to keep them
weaknesses in our IT infrastructure and applications,
Customers Yes 1,504* O NIL 1,448 O NIL
reducing the risk of cyber threats and enhancing our updated on emerging threats to cyber security, social
Value Chain Partners Yes NIL NIL NIL NIL NIL NIL
overall security. We also have business continuity media safety etc.
Other (please specify) NIL NIL NIL NIL NIL NIL NIL
and incident response procedures in place, which are
* The number of customer complaints mentioned in above table pertains to Airports business which is the only B2C business of AEL. evaluated annually.
#Complaint was received on 27 March 2023. As on date of this report, the said complaint has been resolved.
Digitalisation and Cyber Security information security and offer employees the option of
secure remote working.
We recognise the significant positive impacts of
digitalisation, which has revolutionised various aspects We focus on continually upgrading our IT architecture,
of business operations, including cloud computing, enhancing business process efficiency, and addressing
online marketplaces, and electronic payments. In this market requirements. Through these initiatives, we have
digital landscape, ensuring uninterrupted access to our increased our competitiveness through industry best
networks, IT systems, and data is of utmost importance. practices and the adoption of advanced technologies.
Our focus lies in evaluating our preparedness to We recognise the critical role of cyber security
prevent failures in our IT systems and at the same governance in protecting stakeholder assets and
time, addressing major incidents related to information maintaining customer confidentiality. By implementing
security and cyber security. We continuously assess our a comprehensive Cyber Security and Data Privacy
ability to respond appropriately and efficiently in the policy, we demonstrate our commitment to proactive
event of such incidents, ensuring minimal disruption and cyber security management. The policy encompasses
effective mitigation of risks. We strive to enhance the various aspects of cyber risk, establishes control and
resilience of our digital infrastructure and information monitoring measures, and emphasises the protection and
security measures. We continuously invest in the latest security of stakeholder assets. We continuously improve
technologies, industry best practices, and employee our cyber security practices to remain aligned with
training to strengthen our defences against cyber emerging threats and evolving regulatory requirements,
threats. Our aim is to ensure the continuity of our reinforcing our commitment to maintaining a robust
business operations, protect our sensitive data, and cyber security posture.
maintain the trust of our stakeholders.
IT Security/Cyber Security Infrastructure and
Our Information Technology and Cyber Measures
Security Process We have built business continuity mechanisms in
By fostering a strong cyber security culture, we strive to our information systems, incorporating redundancy
remain resilient in the face of evolving cyber risks and and high availability features at multiple levels. Data
demonstrate our commitment to protecting corporate privacy is covered in our Cyber Security Policy, ensuring
value and maintaining the trust of our stakeholders. compliance with applicable regulations and global
We are a technology-driven organisation that employs best practices. Customers and business partners are
prudent technology investments to moderate costs, empowered to connect with our teams through email and
acquire real-time information, empower informed phone on matters concerning their personal data.
decision-making, accelerate workflow, reinforce

Occupational Health and Safety

1 2 3 4
We prioritise Occupational Health & Safety (OH&S) as Leveraging Governance and Management
a core value to create sustainable long-term value for System to Enhance Safety Improvement Apex Safety Council as the Steering Safety Council com- Business Safety Council and
all stakeholders. Our commitment to Risk Control and Programmes appellate body comprises of prises of Service Head – Safety, Task Forces comprises of BU
Risk Acceptability spans across our diverse business We have a proactive approach towards OH&S, integrating
Senior Leadership Team, Pro- Group Head – Safety, Business Head, Business Safety Head,
portfolios including Energy, Infrastructure, Logistics, it into all our business decisions and planning. Our
moters, Service Head – Safety Safety Heads, and business Operations Head, and Line
Mining Services and Manufacturing Value Chain. commitment to safety goes beyond compliance, as
& Group Head – Safety leaders across the Group Function Leaders
We believe that ‘harnessing safety’ through ‘responsible we exceed industry standards and practices through
stewardship’ and ‘safety mindfulness’ is crucial for comprehensive policies, standards, and processes. We
building a resilient organisation. We have embarked have established three-tier safety taskforces to ensure
Our three-tier safety taskforces
on a ‘Safety Excellence’ journey, embracing Human
Performance Principles as the foundation of our
a positive safety culture, continual improvement, and the
well-being for our workforce. 5 6 7 8 focus on Standards, Contractor
safety management, logistics
sustainable safety programme. This approach represents safety, training and capability
Our Safety Management System Site Safety Council comprises Adani Stakeholders –
a shift in safety culture, focusing on building capacity building, incident investigations,
of Site Safety Head and Line Employees, Contractors, Third
through safe, reliable, and productive work practices, At the Group level, we have a comprehensive Safety audits, and technological
Function Leaders, Parties, Business
rather than solely relying on incident avoidance. By Management System (SMS) in place. It includes clear interventions in safety.
AIC – Area In-charge Partners, and Communities
fostering this cultural shift, we create an environment accountability and responsibilities at all levels, starting
where positive outcomes are encouraged as employees from the Apex Safety Council, Steering Safety Council,
navigate complex and adaptive work environments. Our Business Safety Council, Safety Task Forces, and Site
aim is to prioritise safety, allowing our employees to Safety Council. Each site has stakeholders who hold Safety Management System and Assurance to implementing proactive and sustainable business
thrive while ensuring their well-being. the primary responsibility for implementing the Safety practices, ensuring compliance with internal and external
We adhere to the Adani Safety Management System,
Governance Structure and SMS. requirements, and driving continuous improvement.
which serve as our group-level safety framework. It
integrates all OH&S management components of our Group Safety drives our Safety Assurance Programme,
businesses into one coherent system. The integration which serves as a risk-based diagnostic tool to determine
enables efficient management of environmental impact, the effectiveness of our SMS. It includes safety
1 minimisation of OH&S risks, and achievement of its performance monitoring and measurement, management
Apex objectives. The SMS provides a structured approach
Council of change processes, and ongoing improvements.
Strategic
2
Disaster Management Preparedness Strengthened at Various Airports
Steering Safety Ahmedabad Airport organised a 3-day disaster General of Civil Aviation, strengthening the efficiency
Council
management mock drill under the supervision of the of the airport operator and stakeholders in handling
Planning National Disaster Management Authority & Gujarat emergencies and validating the aerodrome emergency
State Disaster Management Authority. The exercise response plan and procedures.
3 4 focused on enhancing the preparedness of airport
Business Business Guwahati Airport also hosted a mock drill by the
Safety Task emergency teams to respond to Chemical, Biological,
National Disaster Management Authority, focusing on
Council Forces Radiological, and Nuclear (CBRM) emergencies,
handling CBRN (Chemical, Biological, Radiological, and
Execution including threats from chemical, biological, radiological,
Nuclear) materials.
and nuclear materials.
5 6 7 Thiruvananthapuram Airport and Mumbai Airport
Site Site Championship Mangaluru Airport, conducted a Fire Safety Training
Council Task Forces -AIC marked the Fire Service Week by conducting various
workshop for commercial store employees, aiming to
activities, including training sessions, awareness
reinforce fire safety awareness and preparedness.
Implementation programmes, drills, and lectures on fire safety and
8 Guwahati Airport collaborated with the Assam State mental health.
Adani Stakeholders Disaster Management Authority to conduct a mock
All 7 airports are ISO 45001 certified, emphasising their
(Employees, Contractors, Third Parties, Full Scale Aerodrome Emergency Exercise (FSAEE).
Business Partners 8 Communities) commitment to workplace safety.
This exercise followed the guidelines of the Directorate

Safety Excellence Journey Occupational Health and Safety (OH&S) • Safety Training and Competency – Experiential
learning using AR, VR and MR and digitisation of
In synergy with the Adani Group, we have embarked on a transformational journey towards becoming a world-class We place a high priority on the occupational health and
learning process
safety organisation. We are driven by the commitment and accountability of our leadership team, adopting a safety of our employees and have implemented several
‘top-down and bottom-up’ approach. We prioritise safety efforts at both ends of the pyramid, focusing on the initiatives and policies to create a safe and healthy • Man-machine segregation – Failproof sensors and IoT-
‘last mile workforce’ at the bottom and the ‘executive leadership’ at the top. This approach ensures that safety is working environment. Our comprehensive Occupational based instrumentation controls to prevent employee’s
ingrained at every level of our organisation. Health and Safety Policy and strict life-saving safety exposure to hazardous machinery operations.
rules form the foundation of our approach.
OH&S KEY DRIVERS Awards and Accolades FY 2022-23 – Safety Measures
TOP DOWN APPROACH

Some of our initiatives are highlighted below:
Enhancing • British Safety Council – Five Star Rating & Sword
Executive Leadership OH&S OH&S Systems • At our sites, we have established OH&S setups of Honour
capability & Process that provide healthcare services and ensure • CII Award in SHE Excellence & Innovation
compliance with occupational health-related
• NSCI Awards – ‘Suraksha Purushkar’ and
statutory requirements
Equipment & ‘Prashansha Patra’
Senior Managers Facilities • Our OH&S teams focus on medical fitness, suitable
• FAME India Platinum Award
work placement, first aid, preventive healthcare, health
OH&S education, and surveillance • OHSSAI Annual HSE Excellence & Sustainability Awards
Coordinators Compliance - Gold Rating
• To further support our employees’ well-being, we have
& Behaviour made provisions for drinking water fountains, canteen • OHSSAI Road Safety Award – Gold Rating
First Level Managers
facilities with rest sheds, and occupational health • India HSE Summit & Awards – HSE Excellence
Line Champions centres across our sites • Greentech Safety Award.
• Trained medical staff are available round the clock,
along with first aid facilities and ambulance services. Note: These awards and accolades are bestowed upon the Adani
BOTTOM UP
APPROACH
We ensure clean and well-maintained toilets and wash portfolio companies for Occupational Health and Safety (OHS).
OH&S
Workforce Practitioners/ Evangelists cabinets for our employees
• During summers, we distribute hydrating drinks,
INTEGRATED ORGANISATION (LINE & SUPPORT) and implement dust prevention measures with mist
water spraying
Contractor Workmen Safety
We ensure that the trade skills of contractor workers These initiatives demonstrate our commitment to the Our Mining Services Business
are closely aligned to safety skills to prevent any harm #SafetyCulture well-being of our employees and our dedication to
Implements Robust Safety
or injury to our last mile worker. Through our contractor fostering a culture of health and safety at AEL.
safety incubation programmes, we implement various
#SafetyCulture is the flagship brand identity of the Engagement Process
Adani Group, encompassing all safety initiatives, Safety Innovation and
interventions, including mandatory classroom-based Our Mining Services business, along with its site
programmes, and engagements both within and Technological Interventions
safety induction programmes, experiential learning management, has established a comprehensive worker
outside the organisation. We have designed specific
(AR-VR training modules), and engagement in risk Leveraging technology to improve safety performance is identification and engagement process. This initiative
safety engagement processes as part of national
mitigation exercises such as Hazard Identification and one of our key focus area. It enables us to mitigate critical aims to map potential concerns related to workplace
programmes such as National Safety Week and
Risk Assessment (HIRA), Job Safety Analysis (JSA), and operational risks and address safety issues at sites safety and enhance management systems. Regular
National Road Safety Month to promote a heightened
Process Hazard Analysis (PHA). through a systematic and defined Safety Technological monthly site safety committee meetings and ground
sense of safety consciousness.
and Digital Roadmap. Group Safety drives technological zero safety patrollers encourage workers to freely
We empower contractor workers to digitally report all
To prioritise community safety, we joined hands with and digitalisation initiatives to leverage efficiencies and raise any safety concerns, with management taking
safety events and incidents through QR-based safety
Adani Foundation to develop a comprehensive training effectiveness of safety processes and interventions. full responsibility for compliance.
reporting. We have robust workers identification
programme called ‘School Safety’ for teachers in state
processes, conduct monthly safety committee meetings, Additionally, Adani has introduced a QR code-based
primary schools. Safety evangelists conduct train- Adani Group has prioritised four areas of
and facilitate regular medical examinations to identify reporting facility at all sites, allowing workers to report
the-trainers’ sessions in nearby schools, imparting technological solutions in safety:
and eliminate hazards, minimise risks, and ensure potential hazards anonymously. These reports are
essential knowledge and instilling a culture of safety • Hazardous and Restricted Zone Monitoring – AI-based
compliance with safety standards. periodically reviewed by the management, further
in school children. This partnership underscores our automated safety hazard monitoring system
commitment to promoting safety awareness and ensuring a proactive approach to safety management
• Logistics and Fleet Safety Management – IVMS across the organisation.
safeguarding the well-being of the community.
technology and Driver Management Centre

immediate hazards. A robust process identifies high-

Our Measures Details Emergency Preparedness and Response Plan
consequence injury risks. Online reporting and QR
Safety Goal of Zero Harm (EP&RP)
Governance Implementation of safety task forces, incident
codes enable hazard reporting. Ground zero safety
System and personnel rectify hazards. Incidents resulting in high- We prioritise safety and have developed a comprehensive
investigations, audits, and safety technological
Practices interventions consequence injuries are thoroughly investigated to Emergency Preparedness & Response Plan (EP&RP).
Weekly/monthly/quarterly review at various levels understand causes. We eliminate hazards using the This plan encompasses all operational areas and office
for safety to ensure compliance to our management hierarchy of controls and prioritise risk reduction through spaces, providing clear guidelines and protocols for
system handling various emergencies. Its primary focus is to
engineering, administrative controls, and personal
Safety Specific job and operations specific safety training ensure the protection of personnel, assets, and the
protective equipment (PPE).
Training based on position, individual, and job nature,
environment. The EP&RP is designed to facilitate a swift
including simulator-based programmes and trainings In addition to addressing hazards that have caused high-
to enhance safety awareness and reduce risks. and coordinated response to emergencies, while also
consequence injuries, we also proactively work towards promoting continuous improvement through regular
VR based training for high-risk activities to sensitise
workers identifying and mitigating other work-related hazards. evaluations and updates. By adhering to this plan, we aim
Life Saving Includes rules outlining minimum precautions Our ongoing risk assessment processes and regular to create a secure and resilient workplace that upholds
Safety Rules required to eliminate life-threatening hazards inspections enable us to identify potential hazards across safety principles for the benefit of our employees and
(LSSR) on‑site our operations. stakeholders. The emergency plan includes crucial
Awards and Rewards and recognition programmes in place to
Safety Capability Building details such as an introduction, definitions, organisation
Recognition appraise the champions of safety Translation of Safety into ESG Performance information, layout plan, objectives, process details,
We actively pursue Group Safety Programmes as part of Contractor Competency development platform for contractor
Safety personnel, providing online cloud-based safety We align with the Group Safety Framework to integrate identification, and control measures. By integrating these
our commitment to enhancing safety competencies and
Management training modules, resources, and interactive exams ESG considerations into our Occupational Health and comprehensive emergency measures into our operations,
building a strong safety culture. These comprehensive
Safety (OH&S) practices. By prioritising employee well- we aim to enhance preparedness and ensure the well-
Safety Capability Building programmes encompass During FY 2022-23, zero complaints were filed by
being, minimising environmental impact, and upholding being of our employees, while also demonstrating our
targeted training initiatives, leadership development, employees and workers regarding working conditions,
responsible governance, we create a safe and sustainable commitment to regulatory compliance.
performance monitoring, engagement, and continuous health, and safety. This reflects our continuous efforts to
workplace. Through risk assessment and management,
improvement. With the support of our HR Learning maintain satisfactory working conditions and prioritise
compliance with ESG standards, stakeholder Emergency Drills
and Development function, we empower employees the health and safety of our workforce. Similarly, in
engagement, and transparent reporting, we demonstrate We conduct regular mock drills, such as the Full-Scale
at all levels with knowledge and skills to uphold safety FY 2021-22, there were no complaints filed or pending
our commitment to integrating ESG principles into OH&S. Aerodrome Emergency Exercise (FSAEE) to enhance
standards effectively. By investing in safety capabilities, resolution. We remain committed to ensuring a conducive
This alignment reinforces our dedication to responsible operational efficiency and ensure preparedness
we create a safe working environment, foster high morale and secure work environment for all employees
business practices and contributes to the overall ESG in emergency situations. These drills validate the
and motivation, and retain top talent. This reinforces and workers.
goals of the Adani Group. effectiveness of our emergency response plan
our dedication to employee well-being, ensuring a
secure workplace and long-term sustainability for Hazard Identification and Risk Assessment (HIRA) and procedures, strengthening coordination and
Key Metrics collaboration among stakeholders. By conducting these
our organisation. We prioritise hazard identification through risk studies,
Number of Work-related Fatalities for Employees and mock drills, we continually improve our emergency
safety audits, and job hazard analysis. Stakeholder
Design Safety Contractors preparedness and maintain a high level of safety and
engagement, training, and certifications promote
Fatalities FY 2022-23 FY 2021-22 FY 2020-21
security for all involved.
Our internal audits and assessments play a crucial role in awareness. Incidents are promptly managed, with root
ensuring the effectiveness of our safety measures. These cause analysis and corrective actions. Near miss analysis Employees 0 0 0
audits systematically evaluate our safety practices, and control measures strengthen risk control. Our digital Contractors 1 0 0
identifying strength and areas for improvement. Through platform streamlines hazard reporting, and job-specific Lost-Time Injury Frequency Rate (LTIFR) for
thorough assessments, we proactively address any training enhances hazard identification. In our mining Employees - (per one million hours worked)
potential risks and enhance our safety protocols. During business, we have implemented automatic tarpaulin Indicator Unit FY 2022-23 FY 2021-22 FY 2020-21
the audit process, we prioritise contractor engagement covering activity for loaded coal dispatch vehicles. These Lost time Per million 0 0 0
and ensure they have the necessary skills for their practices help us proactively address potential risks and injury hours
roles. We facilitate discussions, conduct task briefings, ensure a safer work environment for all. frequency worked
offer job-specific training, perform hazard analysis, rate
and simulate drills to simplify the hazard identification Reporting Health and Safety Incident
process for our contract employees. Investigation and Work-related Injuries Lost-Time Injury Frequency Rate (LTIFR) for
Contractors - (per one million hours worked)
At AEL, incident investigation is crucial for preventing
Annual Assessment work-related injuries. We continually improve our safety Indicator Unit FY 2022-23 FY 2021-22
% of our plants and offices assessed (by entity management system. Hazard identification involves job Lost time injury Per million 0.141 0.076
Areas assessed or statutory authorities or third parties) frequency rate hours worked
site inspections, risk assessments, and past incident
Working conditions 100% analysis. We use data and workforce insights to address

Social-Customers Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Customer Centricity at Our Core
Management Approach While Airports business focuses on serving individual Measures Our Company places significant importance on informing
customers (B2C), our other segments primarily cater to Customer’s ESG Customer’s policy on quality control, customers about privacy protection issues. In the context
In a dynamic global business landscape with intense
business customers (B2B). Our customers in the Airports credentials and health and safety and respect for of our Airports business, we ensure that our customers
competition, our priority is customer-centricity.
business follow service guidebook, which is designed to alignment to AEL’s human rights at workplace are well-informed about the handling of their personal
Understanding our customers, their desires, and sustainability goals
help them achieve service excellence. Additionally, in our information through the availability of a privacy policy on
aspirations is crucial, which is why we invest significant Infrastructure, Consciousness, delivering time and
Solar business, through proactive customer and market airport websites.
effort in nurturing long-term relationships through operations and allied accuracy
engagement initiatives, we actively connect with our services
regular interactions and surveys to obtain customer IT survey
customers, gain insights into their evolving needs, and a. Nature of Information Captured
feedback based on performance indicators. We Value enhancement Pricing, easiness, environmental
offer customised solutions. Our commitment to fostering and social practices and customer As Category A data, we collect Passenger Name,
continually strive to develop services that align with
strong customer relationships is evident in our approach, feedback Mobile Number, Email Address, PNR (Passenger Name
their expectations. Customer satisfaction serves as a key
which revolves around shared values, norms, and Other processes Parameters influencing the use of Record), and Flight Details. In Category B, we collect
driver for our financial success. Our goal is to actively
common goals. By consistently enhancing our services, our services, suggestions, and scope
engage with customers, understand their needs, and Aadhaar Card information, Photographs, and Email IDs.
we aim to strengthen our connections with valued of improvement
enhance their experience by providing value. We believe Policy awareness Environmental Policy, Energy and
customers and surpass their expectations. b. Use of Collected Information
in building relationships based on shared values, norms, Emissions Policy, Water Stewardship
and common goals, fostering trust and collaboration. Policy among others Category A data is processed to enable end-to-end
To meet customer requirements, we have implemented Customer Satisfaction Measures passenger journey systems within the airports.
a robust customer relationship management system Our commitment lies in ensuring customer satisfaction Customer Data Privacy Category B data is processed to facilitate the
supported by customer-centric processes, policies, and while adhering to our ESG commitments. We assess provision of required services for employees,
We ensure the privacy and security of customer data.
guidelines across all our Business Divisions. the customer's infrastructure, operations, and allied partners, and visitors. The data is necessary for
Our Cyber Security policy includes provisions for data
services. Value enhancement is another aspect we focus generating invoices for services rendered and
We have different operational models for our various privacy and outlines how we handle data in compliance
on, considering factors such as pricing, environmental facilitating payment receipts.
segments. However, our commitment to delivering with applicable regulations and global best practices.
exceptional experiences remains consistent across and social practices, and customer feedback. We take Customers and business partners have the means to
into consideration other processes that may influence c. Customers' Control over Data Collection, Use,
all segments. Our priority is to provide personalised, connect with our team via email and phone regarding
the use of our services, as well as customer suggestions Retention, and Processing
attentive, and high-quality service to ensure a superior their personal data concerns.
customer experience. Our employees undergo extensive and opportunities for improvement. Lastly, we ensure Both categories of data are used to ensure smooth
that customers are aware of our environmental policies, The following mechanisms are in place to ensure operations for passengers, employees, visitors, and
training and development to ensure they can provide a
energy and emissions policies, water stewardship effective implementation of our Company's partners within the airport systems. Opt-out options
seamless and hassle-free experience for our customers.
policy, and other relevant policies that contribute to privacy policy: are partially applicable for Category A, while not
sustainable practices. By considering these factors, we applicable for Category B. Opt-in consent is partially
aim to provide value-added services that align with our 1. P
rivacy policy applies to the entire operations, applicable for Category A, and fully applicable for
sustainability goals and enhance customer satisfaction including suppliers. Category B. Customers can request access to their
data, which is maintained with restricted access.
Customer Calendar Year 2. D
esignated IT and cyber security department However, data transfer to other service providers
Calendar Year Calendar Year
Satisfaction (CY) 2022 responsible for privacy issues. is not applicable as per our policy. Customers can
(CY) 2021 (CY) 2022
Measurement Target
also request corrections to their data, subject to
Satisfied 4.9/5 4.92/5 4.5/5 3. P
rivacy policy system embedded in group-wide risk/ following standard operating procedures. Provision
Respondents (Rating for 4 compliance management.
Unit: % of satisfied airports i.e. for data deletion is available upon request.
respondents out AMD, LKO,
of total number ZBOM, IXE; 4. D
isciplinary actions are taken in case of breach.
of respondents to Post COD We have zero tolerance policy for this.
the survey initiation for
JAI, TRV & 5. M
anagement Audit and Assurance (MAAS) team
GAU in CY conduct internal audit for privacy policy compliance.
2022-2023)

Social-Customers | Suppliers Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Forging a Responsible Supply Chain

d. Information Retention Period g. Monitoring of Customer Data for Secondary
Purposes
Data from both categories is kept since the point of
collection or the date of creation. We are committed to maintaining transparency
Supply Chain Management ESG Integration in Supply Chain
and safeguarding customer privacy throughout our We see responsible supply chain as an opportunity. Management Strategy
e. Information Protection operations in compliance with applicable regulations By prioritising sustainability in our selection and
At AEL, we outlined supply chain management
and industry standards. management of suppliers, we proactively minimise
We ensure the protection of customer information sustainability criteria for Tier 1 suppliers (high-
overall risks, enhance our brand reputation, and
in accordance with our policy and industry best We are proud to report that in FY 2022-23, there dependency direct vendors with whom the Company
attract a broader range of value chain partners. We
practices. When it comes to data handling and were zero substantiated incidents involving had large volume engagements). Through procurement
endeavour to lead the way by developing agile, resilient,
storage, active customer data remains within breaches of customer privacy, theft, leaks, or decisions, the Company encouraged suppliers to embark
sustainable, and profitable supply chains. Central to our
our system, and appropriate measures are taken loss of customer data or critical information. This on sustainability-linked measures. We are targeting to
approach is our commitment to ESG principles, which
to secure and protect it. We strictly adhere reflects our commitment to maintaining the highest implement a sustainability-based vendor ranking system
we have integrated into our operations and Supply
to data confidentiality and do not disclose standards of data privacy and security for our and use it in all procurement decisions. We focus on local
Chain Management (SCM). By closely collaborating
customer information to any third parties unless valued customers. economic development by increasing our local sourcing
with suppliers, we adhere to rigorous ESG standards,
required by government agencies for statutory and procurement spend. We aim to mitigate risks through
fostering transparency and ethical practices across the
compliance purposes. complete compliance with the environment, safety, and
entire supply chain. Our sustainability endeavours extend
labour regulations. We strive to create shared value by
beyond mere compliance, and we aspire to generate
f. Third-Party Disclosure Policy encouraging sustainable business practices like climate
positive impact on the communities and ecosystems in
We have Non-Disclosure Agreements (NDAs) in action plan, water management policy and human rights
which they operate. As part of our suppliers’ onboarding
place for third parties, in accordance with our policy. The incorporation of sustainability within their
process 100% of suppliers are screened on ESG and other
Company policy. operations has led to enhanced supply chain efficiency
parameters through ARIBA portal.
and profitability. Furthermore, this approach enables us
to attract socially conscious investors who recognise
Supplier Code of Conduct the value of companies prioritising responsible practices
We consider our suppliers as value chain partners and and long-term value creation. Through our ESG-driven
have a robust Supplier Code of Conduct applicable approach, we set a commendable example for responsible
to all our suppliers. Here, “Supplier” refers to material sourcing and contribute to the broader transformation
suppliers/service providers/vendors/traders/ of supply chains on a global scale. By showcasing the
agents/consultants/contractors /third parties including benefits of sustainability and resilience, we inspire other
their employees, agents, and other representatives, companies to adopt similar practices and collaboratively
who have a business relationship with us and provide, work towards a more sustainable future.
sell, seek to sell, any kinds of goods or services to our
Company or any of our subsidiaries and associated Supplier ESG Programme
entities. The Supplier shall communicate the Code to The oversight of the implementation of the supplier
related entities and sub-contractors who support them ESG (Environmental, Social, and Governance) programme
in delivering materials or services and ensure adherence is clearly defined under the purview of our Company’s
from all related entities and sub-contractors. All the executive management. At each of our business, there
suppliers are required to adhere to our Supplier Code is a techno-commercial team which is responsible for
of Conduct, which provide comprehensive guiding procurement, contracts and vendor management for
principles and embody our commitment to internationally the specific business. The respective teams are guided
recognised standards, including the United Nations by the AEL team which oversee that the activities are
Global Compact (UNGC), the core conventions of the in alignment with Group’s philosophy on sustainable
International Labour Organisation (ILO), United Nations supply chain and whether the supplier code of conduct is
Universal Declaration of Human Rights and prevalent adhered to. This translates into the top-level executives
industry standards for vendors and suppliers. The Code within the organisation being responsible for overseeing
of Conduct is aimed at collaborating with our suppliers in and ensuring the successful execution of the supplier
the promotion of lawful, professional, and fair business ESG programme.
practices. The code integrates aspects related to human
rights, health and safety, environment, and business
ethics among others.

Social-Suppliers Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Suppliers Screening commodity-specific risks, focusing on factors such as

price volatility, sourcing transparency, and responsible
of assessment results, to develop improvement plans and
work on areas of potential optimisation.
Grievance Redressal for Suppliers
By carefully screening our suppliers, we ensure the We provide a transparent and unambiguous grievance
production methods. By considering these risks, we
integrity and sustainability of our operations from a management system for suppliers. Suppliers can interact
aim to build a resilient and responsible supply chain for Proportion of Spending on MSME and Local
supply chain perspective. Supplier screening happens at one-on-one with our representatives or directly approach
the business. Suppliers
multiple levels, starting with vendor registration process supervisors or the HR team to address their complaints.
We promote micro, small, and medium enterprises We ensure timely responses and assign responsibility
on our online portal ARIBA where the suppliers are asked Supplier Risk Management Measures (MSME) for the overall economic development. Our focus within the concerned team to address grievances within
about their compliance with parameters mentioned in
We create customised risk mitigation plans tailored is to promote local economic development by increasing a defined timeline.
the Supplier Code of Conduct and other requirements.
to address the specific risks identified during the our local sourcing and procurement spend.
The next level of screening happens once the supplier
screening process. These plans outline actionable steps Internal Stakeholder Training for Supplier
is onboarded. The proportion of spending on MSMEs and local suppliers
and controls to minimise the potential impact of the ESG Programme Roles
is shown below:
The ESG related indicators are included in the terms identified risks.
An online ESG training module was launched for all
and conditions of the purchase order which the supplier FY 2022-23
1. Supplier Engagement and Collaboration: We foster employees of various Adani businesses. It includes a
needs to agree to and sign. Another level of screening Directly sourced from MSMEs/small producers 35%
open communication and collaboration with our module on sustainable supply chain. More than 7,000
with the suppliers happens at the regular meetings and Sourced directly from within the district 48%
suppliers to promote transparency and alignment (Ahmedabad) employees have completed the course. In addition,
training organised for them to build knowledge on best
with our sustainability goals. This includes working Sourced directly from within the State (Gujarat) 38% another training programme on sustainable supply
practices and the latest developments in the field.
closely with suppliers to address any identified chain was conducted for techno-commercial and
risks, sharing best practices, and encouraging ESG teams to build capacity on the requirements of a
1. Environmental
continuous improvement. sustainable supply chain and how it can be implemented
• Natural resource conservation across businesses.
2. Continuous Monitoring and Evaluation: We
• Efficient systems and process
implement a robust monitoring and evaluation
• Pollution prevention system to regularly assess the performance and
• Waste management compliance of our significant suppliers. This ensures
that the identified risks are effectively managed
2. Social and that suppliers maintain high standards of
• Freely chosen employment sustainability and ethical practices.
• Equal opportunity 3. Capacity Building: We provide support and resources

• Working hours, wages, and benefits to our suppliers to enhance their capacity in risk
management and sustainability practices. This
• Human trafficking
may include training programmes, workshops,
• Freedom of association and knowledge sharing initiatives to empower our
• Health and safety suppliers to proactively address risks and improve
their overall performance.
3. Governance
4. Self-Assessments: We conduct self-assessments to
• Adherence with Company policy assess the effectiveness of our risk management
• Bribery or corruption measures and to verify supplier compliance with
• Conflict of interest our sustainability standards. These reviews help us
identify areas for improvement and make necessary
• Grievance redressal
adjustments to our processes.
• Reporting of unethical practices
Improvement Plan
Supply Chain Risk Assessment
Based on the screening and assessment, areas of
Our screening process for significant suppliers considers improvement are identified. We actively engage with our
various risks to ensure a sustainable supply chain. We suppliers to improve their sustainability performance. We
carefully assess country-specific risks, considering conduct awareness sessions to communicate our vision
factors such as political stability, legal compliance, and on safety, sustainability, human resources, and industrial
human rights. Additionally, we evaluate sector-specific relations requirements. We monitor the progress of the
risks, analysing the environmental impact and ethical corrective actions and engage in regular follow-ups and
practices within the industry. Moreover, we address performance reviews. We also ask suppliers, regardless

Social-Communities Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Uplifting lives
Management Approach representatives). We actively pursue various Corporate Directors (‘Board’) of our Company. The primary objective Project Identification Process
Our social philosophy is driven by our commitment to Social Responsibility (CSR) initiatives through the Adani of the Committee is to identify the areas of CSR activities,
The strategic pillars that underpin the Adani Foundation’s
the United Nations Sustainable Development Goals (UN Foundation, the CSR arm of the Adani Group. recommending the amount of expenditure to be incurred
approach include community empowerment,
SDGs). The development efforts and frameworks are well on the identified CSR activities, implementing, and
establishment of community institutions, leveraging
aligned with all UN SDGs with special focus on: FY 2022-23 CSR Contribution monitoring the CSR policy from time to time.
government resources, fostering partnerships and
Since 1996, the Adani Foundation, the community networking, and evidence-based practices to scale up
engagement arm of the Adani Group, has remained deeply Stakeholder Engagement Process
and replicate successful initiatives. We employ a bottom-
committed to making strategic social investments for We have a well-defined process for engaging with all up tactical approach to determine the focal points of
sustainable outcomes throughout India. The Foundation stakeholders including community members to enhance our CSR activities by actively involving the community
has been active in the core areas of Education, Health, cooperation and mutual support for a sustainable in the decision-making process, which is why our CSR
Sustainable Livelihoods, Skill Development and relationship. These engagements are specially designed programmes are developed after extensive consultations
Community Infrastructure. Its strategies are rooted in to address the quick needs of the community along between our on-ground CSR teams and the community
national priorities and global Sustainable Development with long-term impactful programmes. The on-site CSR itself. By engaging with the stakeholders, we gain a
Goals (SDGs). professionals regularly meet the communities and their comprehensive understanding of the community’s needs
representatives and try to assess community needs. and aspirations, allowing us to identify and prioritise our
The Foundation is known for its inquisitive and innovative
The CSR programmes are designed, based on this need primary CSR focus areas.
approach to problem-solving. It challenges the status
By aligning our CSR efforts with the UN SDGs, we aim to assessment. Through various community development
quo and adopts new solutions that lead to sustainable
address pressing global challenges while ensuring equal activities in and around our businesses, we establish a
impacts. By building institutions of people and focusing
access to opportunities and an improved quality of life harmonious relationship with the community members
on sustainability, the Foundation contributes to the
for every individual. and contribute towards the socio-economic development
dignity, well-being and wealth of the communities
of the area.
Our fundamental belief in ‘Growth with Goodness’ surrounding Adani businesses and beyond. As it
underscores our commitment to support, enhance, and continues to grow and evolve, the Foundation is well-
nurture the communities we operate in. We firmly believe positioned to address the emerging needs of New India. The following core sectors form the pillars of our CSR initiatives:
that true nation-building can only be achieved when It is currently operating in 5,753 villages across nineteen
every individual contributes to the collective progress of states, positively impacting 7.3 million lives.
society. As a responsible organisation, we continuously During the reporting period, our contributions to CSR
strive to engage and assist our community stakeholders activities amounted to a substantial sum I 17.75 crore.
(communities, elected leaders, experts, community These investments exemplify our dedication to making a Education Sustainable livelihood
positive and lasting impact on the lives of individuals and development
communities we serve.
E17.75 crore CSR Policy and Governance

Contributions to We have established a comprehensive CSR philosophy
CSR activities that serves as the foundation for our sustained efforts
in undertaking and supporting socially beneficial Our CSR
programmes, contributing to the welfare and initiatives
5,753 sustainable development of society. We are committed
Villages to fulfilling our obligations as specified in Schedule
VII of the Companies Act and allocating the necessary
CSR expenditure towards these initiatives.
19 The CSR Committee is constituted pursuant to and in Community Infrastructure
States accordance with the applicable provisions of Companies health development
Act 2013 and the Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements)
7.3 million Regulation, 2015, as amended from time to time. The
Committee reports to and is accountable to the Board of
Lives impacted By concentrating our CSR efforts in these core sectors, we aim to make a meaningful and
sustainable impact on the lives of individuals, families, and communities.

FY 2022-23 – Key CSR Initiatives

Education A Step Towards Digitalised
The Adani Foundation is committed towards making Learning
quality education available and affordable to as many
Most of the students of Adani Vidya Mandir, Surguja
children as possible. It is running several cost-free
(AVMS) are first generation learners who lack basic
schools as well as subsidised schools across India. A
facilities and academic support post school hours. By
banquet of projects is designed and implemented to
collaborating with a renowned educational technology
improve the soft and hard infrastructure of the education
company, the school has provided all the students
and its delivery. The Foundation is reaching out to
from classes 4 to 10 with their personalised tablets
progressive learners in government schools, providing
having customised content as per their age/standard.
digital tools and classrooms to students for advance
Each child can access self-paced learning even
and easy learning, supporting young minds to compete
after school hours with digitalised and customised
through coaching, scholarships to deserving students
tablet without the usage of internet. Additionally,
and last but not the least facilitates learning to those
seven rooms in the school are converted into
who are left behind through evening classes.
digital learning spaces for enhancing the teaching
learning experience.
Airport Institution, Guwahati

Adani Vidya Mandir, Surguja The school was established in 1977. After the Adani
Foundation started managing it, the strength of
The Adani Vidya Mandir, Surguja (AVMS) was established
the school has gone up from 85 to 132. The school’s
in the year 2013 with a noble vision of imparting cost-free
infrastructure got a facelift with new and vibrant colours,
and quality education to children hailing from the district
access to potable water and personal hygiene facilities.
of Surguja. Most of the students are first generation
The process of adding another five classrooms, a hall, and
learners. The school caters to children from neediest
other amenities in on-going.
and vulnerable tribal communities in the surroundings.
It began its journey 8 years back with 208 students The school is also providing sports and music equipment,
and now has 753 students ranging from LKG to Class-X. library books, computers, and a smart TV. It follows the
The school is providing free study material, uniforms, Assam State Board curriculum and caters to the students
nutritious food, and transportation. It is truly a ‘Temple from Nursery to Class VII.
of Knowledge’ with serene ambience, verdant and
lush campus, competent faculty, and learners-friendly Environment Sustainability
infrastructure. It continues to illuminate and inspire Vasan Lake Development Project
the young minds of Surguja to do well in their lives.
This project was taken up by the Adani Foundation in
24 out of 28 students who enrolled for Class X CBSE
Gandhinagar district of Gujarat with an objective to
Secondary School Examination in 2022, have passed
conserve the lake and its surrounding environment. The
the examination with flying colours and are pursuing
total area covered under the project is 17,192 sq m, out of
their higher education in various reputed institutions in
which the area of lake is 13,297 sq m. This development
Surguja and Bilaspur districts. The school is transforming
will help in water conservation as well as developing
lives and aspirations in and around Surguja.
a walking pathway around the lake with features like
lighting, drinking water facility, toilet blocks, children’s
play area with plantation. There are 816 families
(population of around 4,000) living in a nearby area.
This will be a value addition to this place of attraction
for visitors to Vasania Mahadev and 51 ft tall Lord
Hanuman statue.

Mumbai Airport’s Year of Medical

Camps: A Healthier Community
From April 2022 to March 2023, Mumbai Airport
hosted a series of medical camps aimed at promoting
health and well-being within the airport community.
A total of 2,422 participants took part in these
initiatives, benefiting from a range of essential Supporting Athletes through
medical services.
Garv Hai Programme
Among the various camps held, 3 blood donation
Adani Foundation is proud to support and promote
drives attracted 1,599 participants, exemplifying the
airport community’s spirit of giving and compassion. the spirit of sportsmanship in our nation. Since 2016,
Additionally, 3 bone density camps for osteoporosis, our sports arm, Adani Sportsline, has been running a
3 heart checkup camps, 3 body composition analysis nationwide incubation programme called ‘Garv Hai’,
camps, and an eye checkup camp were conducted, aimed at nurturing and empowering talented athletes
Support During Natural Calamity/Disaster catering to diverse health needs. from underprivileged backgrounds. Through this
Management Not only focused on the airport staff but the programme, we have supported 26 promising athletes so
Assam Floods 2022 community engagement also extended further far, and we remain committed to supporting them and
with 2 free diabetes camps, benefiting taxi drivers, bringing glory to our nation.
The Adani Foundation has extended timely support to
over 7,000 flood-hit victims in Assam. The Foundation stakeholders, and local residents.
initiated the relief efforts on 27 June 2022, immediately These medical camps fostered a sense of community
after heavy rainfall lashed the state. The devastating care and well-being, reaffirming the airport’s
floods have caused severe hardships and distress to commitment to the health and welfare of its people. Key Achievements of Athletes during FY 2022-23
many residents, particularly those living in rural areas.
Thousands of people, many of them accompanied by Wrestling
their livestock, were forced to take refuge in camps, and
Stories of Change Ravi Dahiya
on the roadsides and embankments.
• 2021 -Silver at the International Wrestling Tournament
The Foundation’s efforts were directed towards helping • 2022- Gold at the Yasar Dogu Ranking Series, Istanbul
bring life back on track for the many who suffered, Archery Training: Unleashing • 2022- Gold at the Asian Wrestling Championships,
mobilising resources towards the most critical needs Mongolia. He became the first Indian to win a hat-trick of
of the communities in a timely manner. At first, the Tribal Youth Talent through CSR gold medals at this event
Foundation and the airport team identified four worst- • 2022- Participated at the World Wrestling
The Adani Foundation is empowering tribal children
hit districts, namely Kamrup, Barpeta, Morigaon and Championships, Serbia
in Raigarh’s Tamnar area by harnessing their natural
Darrang, all of which are within 100 kms of Lokpriya talent for archery. By providing coaching and necessary Deepak Punia
Gopinath Bordoloi International Airport (LGBIA) in facilities, the Foundation aims to motivate these • 2021- Bronze at the International Wrestling
Guwahati. A major part of the population residing children to take the sport seriously. The training began Tournament, Bulgaria
in these districts belong to low-income groups and in August 2022 at Government Atmanand School • 2022- Bronze at the Yasar Dogu Ranking Series, Istanbul
tribal communities. Tamnar, where 12 tribal children, including Arti Birhor, • 2022- Bronze at the U23 Asian Wrestling Championships
started their archery journey. These children were • 2022- Silver at the Asian Wrestling
For the procurement of relief material such as food Championships, Mongolia
and daily essentials, Assam state’s relief guidelines later selected for divisional, state, and national-level
• 2022- Gold at the Commonwealth Games, Birmingham
were followed. The distribution of the relief material competitions, showcasing their skills and dedication.
kits was organised in collaboration with the respective The Adani Foundation supports the children by Boxing
district administration. The efforts were monitored providing archery equipment, attire, nutritious
daily by a team of Guwahati Airport employees. The Amit Panghal
meals, and transportation. The competitions have Strategic Roles Played by Garv Hai Programme • 2022- Silver at the Thailand Open International
beneficiaries’ certified records were obtained from the exposed them to large-scale tournaments and
local administration. For final distribution, Panchayats, • Assessing Financial Requirements: Financial Support Boxing Tournament
instilled a competitive spirit and sportsmanship. • 2022- Gold at the Commonwealth Games, Birmingham
self-help groups, youth clubs, and other civil society The Foundation continues to coach the children required is assessed to empower their journey
organisations also stepped forward. Relief material kits diligently, ensuring they reach their full potential in Parveen Hooda
• Scouting Athletes and Assessing Potential: We • Bronze at the 2022 AIBA World Boxing Day Championship
were provided to over 7,500 families in Kamrup, Barpeta, upcoming tournaments.
and Darrang, and Morigoan. Each kit contained 5 kg identify the athletes across the nation through this
rice, two types of pulses, vegetables, cooking oil, spices, This initiative is part of the Adani Foundation’s activity and assess their potential Athletics (Sprint)
biscuit, drinking water, ORS, and daily hygiene kit, tea, comprehensive social development programmes in • Dispersing Amount and Tracking Athlete Harmilan Bains
sugar, milk and match box among other items. the tribal-dominated Tamnar area, encompassing Performance: The support amount is dispersed and • Created National Record in 1500 m
education, skill development, healthcare, and
the performance of athletes is tracked Through GarvHai Adani Group is honoured to support Indian
infrastructure. By nurturing their passion for archery,
athletes in their pursuit of bringing glory to our nation.
the Foundation is empowering tribal youth and offering
These highlights demonstrate the program’s commitment to
them opportunities for personal and athletic growth.
developing and promoting sporting excellence in India.

Women Empowerment has also led to a shift towards healthier practices, such as Social Return on Investment (SROI) of a cooperative – Mahila Udyami Bahuddeshiy Sahakari
At the Adani Foundation, we share Gandhiji’s belief increased toilet usage and the adoption of sanitary pads, CSR Aactivities Samiti in these villages. Promoting improved
that women’s education is vital for empowering reducing the incidence of diseases. We have been implementing CSR activities in the 14 agricultural techniques under Project Annapurna for
communities. Our women empowerment initiatives core and peripheral villages of Parsa East and Kanta Farmers’ clubs are being implemented in coordination
The impact of the cooperative extends beyond economics.
focus on providing rural women with opportunities to Basan (PKEB) coal block, Surguja, in the state of with government departments to enhance farmers’
It has empowered women socially, granting them access to
utilise their choices and abilities effectively. Chhattisgarh where we are operating coal mines as income. Different income generation activities are
public services, improved negotiating power, and enhanced
Mine Developer and Operator (MDO). being implemented and newer business models such
In Surguja, Chhattisgarh, we initiated MUBSS, a food security, health, and nutrition. Women’s cooperatives
as tailoring centre, mid-day meal, school van, phenyl
women’s cooperative aimed at empowering rural play a vital role in facilitating market accessibility, We have been implementing CSR activities in these making, spice making and sanitary pad production
women through skill development and socio- resources, education, and inclusive and sustainable villages in the areas of education, livelihood and health. among others, are set up by the women’s cooperative
economic progress. business models, contributing to the social and economic For providing quality English medium education to since last year. To ensure timely treatment to the
development of rural areas. the children of the core villages, Adani Vidya Mandir
Through MUBSS, women have gained livelihood communities, Mobile Health Care Unit (MHCU) and
support, enhanced skills, and improved their social Through our women empowerment initiatives, we strive was started with state-of-the-art facilities which to reduce IMR (Infant Mortality Rate) and MMR
status. They earn monthly incomes ranging from to uplift individual women, their families, and entire include video classes, labs and library among other (Maternal Mortality Rate), SuPoshan and Sanjeewan-W
C 3,000 to C 12,000, enabling financial self-reliance and communities, aligning with our commitment to education facilities. Sankalp coaching classes have been initiated programmes are being implemented.
the ability to purchase personal assets. The project and empowerment for all. for students of 10th and 12th at Tara High School, to
prepare them for board exams and preparing them for Social Return on Investment (SROI) study of these
higher education. activities has been conducted by an independent
agency and these are the findings of this study: other
For livelihood, we organised farmers’ groups in measures to strengthen them were identified based on
Kisan clubs which is on its way to form a farmers’ the assessment.
In situations where community representatives register producer company. Women’s groups have registered
Community Grievance Redressal grievances with the local district administration, they are
Mechanism then forwarded to our site BU and duly recorded in the GRR.
To ensure the effective resolution of community

Mechanism to Operationalise the System Activity
SROI [Against every rupee (`)
grievances, we have implemented a formal mechanism spent]
Our CSR in-charge maintains a grievance redressal • The person in custody of the grievance register makes Women’s Co-operative 6.4
register (GRR) at the site, where community members an entry as soon as the grievance is received Project Annapurna 7.61
can raise their concerns. We encourage them to • The CSR in-charge at site regularly monitors the Skill Development 4.37
contact the CSR person in-charge through various register and leads the efforts in order to find an Education 1.4
channels, such as in-person visits, phone calls, or amicable resolve Health 7.98
written letters. • Any new grievances registered are scrutinised and
We spent around `14 crore in the three years prior to
Additionally, grievance boxes are placed in prominent prioritised by the site CSR Head and the important
study on CSR activities.
locations within the villages for anyone to submit ones (those that are deemed genuinely important by
their complaints. These grievances are periodically the site CSR team) are promptly brought to the notice
reviewed and entered into the GRR. Our programme of the site BU Head
officers, under the guidance of the CSR Head, also • Once the grievance is addressed adequately, it is
maintain constant communication with key community marked completed/closed in the GRR.
stakeholders to address any concerns on a one-to-
one basis.

Social-Communities | GRI Content Index Overview AEL at a Glance Sustainability Approach Governance Environment Social Annexures
Certifications
Testimonials
Mrs. Amita Singh, from homemaker to cooperative Mrs. Savitri Armo, another dynamic woman from
chairperson, says the journey of self-reliance was the village of Ghatbarra, holds an important place
not an easy one. Before she joined MUBSS, she was in MUBSS. Being a widow and a mother of two
confined to only four walls of her household. She small kids, she had the sole responsibility of taking
was dependent on her husband to fulfil all her needs care of the educational needs of her kids and even
and expenses, and at times, being a woman, she had the responsibility of her in-laws. Seeing her
had to compromise on her wishes and dreams. She courage and dedication, MUBSS entrusted her with
became self-reliant after joining MUBSS. More than the responsibility of being the head of the phenyl-
100 women have been economically empowered making unit. After being trained in the production
under her leadership. She is pro-actively leading the process of phenyl, Savitri now leads a team of four
movement of women’s empowerment and plans to members. Her dedication and hard work serve as an
engage more and more women in this initiative. inspiration for other women to come forward and
engage in economic activities.
Employee Volunteering Programme

Adani Foundation strengthens its efforts of bringing days are celebrated across sites by employees along
a positive change in the society through committed with participation of community members. Amidst
action by its employees. This includes initiatives in a natural calamity or a pandemic like COVID-19,
sponsoring and facilitating education, organising employee volunteers press into action contributing to
drives for tree plantation, collecting and donating relief work on the ground.
blood, food, clothes, books, stationary etc. Various

MANAGEMENT SYSTEM
CERTIFICATE
Certificate No: Initial certification date: Valid:
154321-2014-AE-IND-RvA 26 September 2011 26 September 2020 - 25 September 2023
This is to certify that the management system of
Mumbai International Airport Limited

Chhatrapati Shivaji Maharaj International Airport, Mumbai - 400 099, Maharashtra,
India
has been found to conform to the Environmental Management System standard:

ISO 14001:2015
This certificate is valid for the following scope:

Operation, maintenance and security of terminals, operational areas & cargo
complex at C.S.M.I. Airport, Mumbai
Place and date: For the issuing office:

Chennai, 20 July 2020 DNV GL – Business Assurance
ROMA, No. 10, GST Road, Alandur,
Chennai - PIN - 600 016, India
Sivadasan Madiyath
Management Representative
Lack of fulfilment of conditions as set out in the Certification Agreement may render this Certificate invalid.
ACCREDITED UNIT: DNV GL Business Assurance B.V., Zwolseweg 1, 2994 LB, Barendrecht, Netherlands. TEL:+31(0)102922689.
www.dnvgl.com/assurance

CERTIFICATE
The Certification Body
of TÜV SÜD South Asia Private Limited
certifies that

Adani Corporate House, Shantigram,
S G Highway Ahmedabad – 382 421, India
has implemented Information Security Management System

in accordance with ISO/IEC 27001:2013
for the scope of
Establishing, implementing, maintaining &

continually improving Information Security Management
System in the support processes like HR, Admin, Physical Security
including Fire safety, Techno-commercial and IT
The certificate is valid from 2023-02-13 until 2025-10-31

Subject to successful completion of annual periodic audits
The present status of this certificate can be obtained through TUV SUD website by scanning below QR code and by
entering the certificate number (without spaces) on web page. Further clarifications regarding the status & scope of
this certificate may be obtained by consulting the certification body at [email protected]
Disclaimer: - The certification is limited to controls applicable and implemented as

documented under the Statement of Applicability
Certificate Registration No. 99 310 00357
Version of the statement of applicability:
ADCS-GRP-ISO-L4-002 version 3.0 Date :7-12-2022
Date of Initial certification: 2023-02-13
Issue Date: 2023-02-13 Rev. 00
____________________
Rahul Kale
Head of Certification Body
of TÜV SÜD South Asia Private Limited,
Mumbai
Member of TÜV SÜD Group
TÜV SÜD South Asia Pvt. Ltd. ⚫ TÜV SÜD House ⚫ Saki Naka ⚫ Andheri (East) ⚫ Mumbai – 400072 ⚫ Maharashtra ⚫ India

GRI Content Index

Reference
Disclosure Number Information Link/Page Number
3. Procurement Practices
Reference
Disclosure Number Information Link/Page Number
Disclosure 204-1 Proportion of spending on local suppliers 123
1. The organisation and its reporting practices 4. Anti-Corruption
Disclosure 2-1 Organisational details 18 Disclosure 205-1 Operations assessed for risks related to corruption 52
Disclosure 2-2 Entities included in the organisation’s sustainability reporting 5 Disclosure 205-2 Communication and training about anti-corruption policies and procedures 47
Disclosure 2-3 Reporting period, frequency and contact point 5 Disclosure 205-3 Confirmed incidents of corruption and actions taken 46
Disclosure 2-4 Restatements of information No restatements 5. Anti-competitive behaviour
Disclosure 2-5 External assurance 140 Disclosure 206-1 Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices 46
2. Activities and workers 6. Tax
Disclosure 2-6 Activities, value chain and other business relationships 18-25 Disclosure 207-1 Approach to tax Annual Report 246-259
Disclosure 2-7 Employees 97 Disclosure 207-2 Tax governance, control, and risk management Annual Report 246-259
Disclosure 2-8 Workers who are not employees 97 Disclosure 207-3 Stakeholder engagement and management of concerns related to tax 34-35
3. Governance Disclosure 207-4 Country-by-country reporting Annual Report 246-259, 68
Disclosures 2-9 Governance structure and composition 40-41
Disclosures 2-10 Nomination and selection of the highest governance body 45 Environment Disclosure
Disclosures 2-11 Chair of the highest governance body 44 1. Energy
Disclosures 2-12 Role of the highest governance body in overseeing the management of impacts 45 Disclosure 302-1 Energy consumption within the organisation 76
Disclosures 2-13 Delegation of responsibility for managing impacts 45 Disclosure 302-2 Energy consumption outside of the organisation Annual Report 218
Disclosures 2-14 Role of the highest governance body in sustainability reporting 45 Disclosure 302-3 Energy intensity 76
Disclosures 2-15 Conflicts of interest 46 Disclosure 302-4 Reduction of energy consumption 76-77
Disclosures 2-16 Communication of critical concerns 36-37 Disclosure 302-5 Reductions in energy requirements of products and services 76-77
Disclosures 2-17 Collective knowledge of the highest governance body 43 2. Water and Effluents
Disclosures 2-18 Evaluation of the performance of the highest governance body 45 Disclosure 303-1 Interactions with water as a shared resource 83
Disclosures 2-19 Remuneration policies 45 Disclosure 303-2 Management of water discharge-related impacts 83
Disclosures 2-20 Process to determine remuneration 45 Disclosure 303-3 Water withdrawal 83
Disclosures 2-21 Annual total compensation ratio 45 Disclosure 303-4 Water discharge 85
4. Strategy, policies and practices Disclosure 303-5 Water consumption 83
Disclosure 2-22 Statement on sustainable development strategy 6-9 3. Biodiversity
Disclosure 2-23 Policy commitments 50-52 Disclosure 304-1 Operational sites owned, leased, managed in, or adjacent to, protected areas and 90-91
areas of high biodiversity value outside protected areas
Disclosure 2-24 Embedding policy commitments 50-52
Disclosure 304-2 Significant impacts of activities, products and services on biodiversity 90-91
Disclosure 2-25 Processes to remediate negative impacts 56-60
Disclosure 304-3 Habitats protected or restored 91
Disclosure 2-26 Mechanisms for seeking advice and raising concerns 34-35
4. Emissions
Disclosure 2-27 Compliance with laws and regulations 46
Disclosure 305-1 Direct (Scope 1) GHG emissions 78
Disclosure 2-28 Membership associations 24
Disclosure 305-2 Energy indirect (Scope 2) GHG emissions 78
5. Stakeholder engagement
Disclosure 305-3 Other indirect (Scope 3) GHG emissions 79
Disclosure 2-29 Approach to stakeholder engagement 34-35
Disclosure 305-4 GHG emissions intensity 79
Disclosure 2-30 Collective bargaining agreements 106
Disclosure 305-5 Reduction of GHG emissions 78
Disclosure 305-6 Emissions of ozone-depleting substances (ODS) 82
Economic Disclosure
1. Economic Performance
Disclosure 201 -1 Direct economic value generated and distributed 13,19
Disclosure 201 -2 Financial implications and other risks and opportunities due to climate change 66-73
Disclosure 201 -3 Defined benefit plan obligations and other retirement plans 106
Disclosure 201 -4 Financial assistance received from government Annual Report 511-522
2. Indirect Economic Impacts
Disclosure 203-1 203-1 Infrastructure investments and services supported 125
Disclosure 203-2 203-2 Significant indirect economic impacts 124

Reference Reference
Disclosure Number Information Link/Page Number Disclosure Number Information Link/Page Number
5. Waste 7. Child Labour
Disclosure 306-1 Waste generation and significant waste-related impacts 87 Disclosure 408-1 Operations and suppliers at significant risk for incidents of child labour 109
Disclosure 306-2 Management of significant waste-related impacts 87 8. Forced or Compulsory Labour
Disclosure 306-3 Waste generated 87 Disclosure 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory 109
labour
Disclosure 306-4 Waste diverted from disposal 88
Disclosure 306-5 Waste directed to disposal 88
Social Disclosure
6. Environment Compliances
10. Human Rights Assessment
Disclosure 307-1 Non-compliance with environmental laws and regulations 93
Disclosure 412-1 Operations that have been subject to human rights reviews or impact assessments 108
7. Supplier Environmental Assessment
Disclosure 412-2 Employee training on human rights policies or procedures 109
Disclosure 308-1 308-1 New suppliers that were screened using environmental criteria 108
Disclosure 412-3 Significant investment agreements and contracts that include human rights clauses 107, 122
Disclosure 308-2 308-2 Negative environmental impacts in the supply chain and actions taken 121-123
or that underwent human rights screening
11. Local Communities
Social Disclosure
Disclosure 413-1 Operations with local community engagement, impact assessments, and 124
1. Employment development programmes
Disclosure 401-1 New employee hires and employee turnover 100,105 Disclosure 413-2 Operations with significant actual and potential negative impacts on local Impacts are covered in
Disclosure 401-2 Benefits provided to full-time employees that are not provided to temporary or part- 103 communities EIA reports and these
time employees are available on https://
Disclosure 401-3 Parental leave 103 parivesh.nic.in/
2. Occupational Health and Safety 12. Supplier Social Assessment
Disclosure 403-1 Occupational health and safety management system 112 Disclosure 414-1 New suppliers that were screened using social criteria 108
Disclosure 403-2 Hazard identification, risk assessment, and incident investigation 116 13. Public Policy
Disclosure 403-3 Occupational health services 103-104 Disclosure 415-1 Political contributions 46
Disclosure 403-4 Worker participation, consultation, and communication on occupational health 115 14. Customer Privacy
and safety Disclosure 418-1 Substantiated complaints concerning breaches of customer privacy and losses of 120
Disclosure 403-5 Worker training on occupational health and safety 101 customer data
Disclosure 403-6 Promotion of worker health 112-117
Disclosure 403-7 Prevention and mitigation of occupational health and safety impacts directly linked 112-117
by business relationships
Disclosure 403-8 Workers covered by an occupational health and safety management system 112
Disclosure 403-9 Work-related injuries 117
3. Training and Education
Disclosure 404-1 Average hours of training per year per employee 101
Disclosure 404-2 Programs for upgrading employee skills and transition assistance programmes 106
Disclosure 404-3 Percentage of employees receiving regular performance and career development 102
reviews
4. Diversity and Equal Opportunity
Disclosure 405-1 Diversity of governance bodies and employees 98
Disclosure 405-2 Ratio of basic salary and remuneration of women to men 99
5. Non-discrimination
Disclosure 406-1 Incidents of discrimination and corrective actions taken 109
6. Freedom of Association and Collective Bargaining
Disclosure 407-1 Operations and suppliers in which the right to freedom of association and collective 106
bargaining may be at risk

Sustainable Development Goals (SDGs)

Content Index Goal Targets Target Description Page Number
8.1 Sustain per capita economic growth Annual Report 25-26

Goal Targets Target Description Page Number 8.2 Achieve higher levels of economic productivity through diversification, technological 60-61
upgrading and innovation
1.4 Ensure that the poor and the vulnerable have equal rights to economic resources, as 124-127
well as access to basic services 8.3 Encourage MSMEs 14-15 , 123
1.5 Build the resilience of the poor against climate related extreme events 124-127 8.4 Resource efficiency in consumption and production and to decouple economic 67 ; Annual Report - 77,
growth from environmental degradation 196 , 218
1.a Ensure significant mobilisation of resources 124-127
8.5 Full and productive employment and decent work for all women and men 96-98
1.b Support accelerated investment in poverty eradication actions 124-127
8.7 Effective measures to eradicate forced labour, end modern slavery and human 107-109
2.1 End hunger and ensure access to safe, nutritious and sufficient food Annual Report - 164 trafficking
2.2 End all forms of malnutrition Annual Report - 81 8.8 Protect labour rights and promote safe and secure working environments 107-109
2.4 Ensure sustainable food production systems and implement resilient agricultural Annual Report - 79-84 9.1 Develop quality, reliable, sustainable and resilient infrastructure Annual Report - 70
practice
9.2 Inclusive and sustainable industrialisation 64-73
2.a Investment in rural infrastructure Annual Report - 187
9.4 Upgrade infrastructure and retrofit industries to make them sustainable, with 64-73; 76-77
3.3 Achieve universal health coverage 103 increased resource-use efficiency and greater adoption of clean and environmentally
sound technologies and industrial processes
9.5 Enhance scientific research 21-23, 72
4.1 Ensure that all girls and boys complete free, equitable and quality primary and 124-130; Annual 9.a Facilitate sustainable and resilient infrastructure development Annual Report - 70
secondary education Report-321 9.b Support domestic technology development, research and innovation 21-23, 72
4.4 Substantially increase the number of youth and adults who have relevant skills for Annual Report 9.c Significantly increase access to information and communications technology 110-111
employment -61,77,130,418,304
10.2 Empower and promote the social, economic and political inclusion of all 96, 106
4.5 Eliminate gender disparities in education 124-130
10.3 Ensure equal opportunity and reduce inequalities of outcome 96, 107
4.7 Ensure that all learners acquire the knowledge and skills needed to promote 47,53,98,100-101
sustainable development 10.4 Adopt policies, especially fiscal, wage and social protection policies, and progressively 108-109
achieve greater equality
4.a Build and upgrade education facilities 124-130
11.1 Ensure access for all to adequate, safe and affordable housing and basic services and 24-25
5.1 End all forms of discrimination against all women and girls 107-109 upgrade slums
5.5 Ensure women’s full and effective participation and equal opportunities for leadership 43,51-52
5.c Adopt and strengthen sound policies and enforceable legislation for the promotion of 97
gender equality 12.2 Efficient use of natural resources Annual Report-
90,91,99,195,213
6.1 Achieve universal and equitable access to safe and affordable drinking water 115, 127
12.4 Environmentally sound management of chemicals and all wastes 50,87-89
6.2 Achieve access to adequate and equitable sanitation and hygiene for all 126-127;
Annual Report- 143 12.5 Reduce waste generation through prevention, reduction, recycling and reuse 65-67
6.3 Improve water quality by reducing pollution and increasing recycling and safe reuse 82 - 85 12.6 Integrate sustainability information into reporting cycle 4 - 5.
6.4 Substantially increase water-use efficiency 82 - 85 12.7 Public procurement practices that are sustainable 121-123
6.6 Protect and restore water-related ecosystems 82 - 85 12.a. Strengthen scientific and technological capacity to move towards more sustainable 21-23
patterns of consumption and production
6.b Support and strengthen the participation of local communities in improving water 82 - 85
and sanitation management 13.1 Strengthen resilience and adaptive capacity to climate-related hazards and natural 57-58
disasters
7.1 Ensure universal access to affordable, reliable and modern energy services 76-77
13.2 Integrate climate change measures into policies, strategies and planning 48-55
7.2 Increase share of renewable energy in the energy mix 76-77
13.3 Improve education, awareness-raising and human and institutional capacity 100-101
7.3 Improvement in energy efficiency 76-77
7.a Support clean energy research and development 76-77
7.b Expand infrastructure and upgrade technology for supplying modern and sustainable 76-77
energy services

Assurance Statement
Goal Targets Target Description Page Number
14.1 Reduce marine pollution of all kinds 84-86

14.2 Sustainably manage and protect marine and coastal ecosystem 71 , 90-91,93
15.1 Ensure the conservation, restoration and sustainable use of terrestrial and inland 32 , 85
freshwater ecosystems and their services
15.2 Increase afforestation and reforestation globally 90-91
15.5 Reduce the degradation of natural habitats, halt the loss of biodiversity 90-91
Independent Limited Assurance Statement to Adani Enterprises Limited on their
15.9 Integrate ecosystem and biodiversity values 90-91
Sustainability Report FY2022-23
16.5 Substantially reduce corruption and bribery in all their forms 46-47 To the Management of Adani Enterprises Ltd., Ahmedabad, India
16.7 Ensure responsive, inclusive, participatory and representative decision-making at all 42-46
levels Introduction
16.1 Ensure public access to information and protect fundamental freedoms 107-109 Intertek India Private Limited ("Intertek") was engaged by Adani Enterprises Limited (“Adani”) to provide an
16.b Promote and enforce non-discriminatory laws and policies for sustainable 48-53 independent limited assurance on its Sustainability Report for FY2022-23 (“the Report”). The scope of the Report
development comprises the reporting period of 1st April 2022 to 31st March 2023. The Report is prepared by Adani based on Global
17.7 Promote the development, transfer, dissemination and diffusion of environmentally 64-66 Reporting Initiative (GRI) Standards 'in-accordance' option for sustainability reporting and in alignment with United
sound technologies to developing countries on favourable terms Nations-Sustainable Development Goals (UN-SDGs) and United Nations Global Compact (UNGC) principles.
17.16 Enhance the Global Partnership for Sustainable Development 6-9, 24
The assurance was performed in accordance with the requirements of International Federation of Accountants (IFAC)
International Standard on Assurance Engagement (ISAE) 3000 (Revised), Assurance Engagements Other than Audits
or Reviews of Historical Financial Information.
Objective
The objectives of this limited assurance exercise were, by review of objective evidence, to confirm whether any
evidence existed that the sustainability related disclosures, as declared in the Report, were not accurate, complete,
consistent, transparent and free of material error or omission in accordance with the criteria outlined below.
Intended Users
This Assurance Statement is intended to be a part of the Sustainability Report FY2022-23 of Adani Enterprises
Limited.
Responsibilities
The management of Adani is solely responsible for the development the Report and its presentation. Management
is also responsible for the design, implementation and maintenance of internal controls relevant to the preparation
of the Report so that it is free from material misstatement, whether due to fraud or error.
Intertek’s responsibility, as agreed with the management of Adani, is to provide assurance and express an opinion
on the data and assertions in the Report based on our verification following the assurance scope and criteria given
below. Intertek does not accept or assume any responsibility for any other purpose or to any other person or
organization. This document represents Intertek’s independent and balanced opinion on the content and accuracy
of the information and data held within.
Assurance Scope
The Assurance has been provided for selected sustainability performance disclosures presented by Adani in its
Report. The assurance boundary included data and information for the operations of Mining Services of Adani
Natural Resources (PEKB & GP-III Mines), Integrated Resource Management (IRM), Adani Airport Holdings Ltd.
(Mumbai & Mangalore Airports), Mundra Solar PV Ltd. (Mundra), DataConneX (Chennai & Noida), RMRW (Cluster
1), Adani Defence and Aerospace, and Adani Enterprises Ltd. (Corporate Office) in accordance with GRI standards.
Our scope of assurance included verification of data and information on selected disclosures reported as summarized
in the table below:
Adani Enterprises Ltd.| Sustainability Report FY2022-23 | Limited Assurance Statement Page 1 of 3

General Disclosures
• Activities & Workers: 2-7, 2-8 Intertek’s Competence and Independence
Intertek is a global provider of assurance services with a presence in more than 100 countries employing
Topic Specific Disclosures
approximately 43,500 people. The Intertek assurance team included Competent Sustainability Assurance
Economic Disclosures Social Disclosures Professionals, who were not involved in the collection and collation of any data except for this Assurance Opinion.
• Market Presence 2016: 202-1 • Employment 2016: 401-1, 401-2, 401-3 Intertek maintains complete impartiality towards any people interviewed.
• Occupational Health and Safety 2018: 403-5, 403-9
Environmental Disclosures
• Training and Education 2016: 404-3 For Intertek India Pvt. Ltd.
• Energy 2016: 302-1, 302-3
• Human Rights Assessment 2016: 412-2
• Water and Effluents 2018: 303-3, 303-4, 303-5
• Supplier Social Assessment 2016: 414-1
• Emissions 2016: 305-1, 305-2, 305-3, 305-4, 305-7
• Waste 2020: 306-3, 306-4, 306-5
Assurance Criteria
Intertek conducted the assurance work in accordance with requirements of 'Limited Assurance' procedures as per Sumit Chowdhury Beth Mielbrecht
the following standard: Technical Manager-Sustainability Project Director
Intertek Assuris Intertek Assuris
• International Standard on Assurance Engagements (ISAE) 3000 (revised) for ‘Assurance Engagements other
than Audits or Reviews of Historical Financial Information’.
22nd August 2023
• International Standard on Assurance Engagements (ISAE) 3410 for ‘Assurance Engagements on Greenhouse
Gas Statement
A limited assurance engagement comprises of limited depth of evidence gathering including inquiry and analytical
procedures and limited sampling as per professional judgement of assurance provider. A materiality level of 10% was
applied. Assessment of compliance and materiality was undertaken against the stated calculation methodology and
criteria.
No member of the verification team (stated above) has a business relationship with Adani Enterprises Ltd. stakeholders beyond that is required of this assignment.
No form of bribe has been accepted before, throughout and after performing the verification. The verification team has not been intimidated to agree to do this
Methodology work, change and/or alter the results of the verification. The verification team has not participated in any form of nepotism, self-dealing and/or tampering. If
Intertek performed assurance work using risk-based approach to obtain the information, explanations and evidence any concerns or conflicts were identified, appropriate mitigation measures were put in place, documented and presented with the final report. The process
followed during the verification is based on the principles of impartiality, evidence, fair presentation and documentation. The documentation received and
that was considered necessary to provide a limited level of assurance. The assurance was conducted by desk reviews, reviewed supports the conclusion reached and stated in this opinion.
visit to AEL, Airport and RMRW’s Corporate offices & stakeholder interviews with regards to the reporting and
supporting records for the fiscal year 2023 at Adani’s corporate office in Ahmedabad. Our assurance task was
planned and carried out during May 2023. The assessment included the following:
• Assessment of the Report that was prepared in accordance with the GRI standards.
• Review of processes and systems used to gather and consolidate data.
• Examined and reviewed documents, data and other information made available at corporate offices and
digitally.
• Conducted physical interviews with key personnel responsible for data management.
• Assessment of appropriateness of various assumptions, estimations and thresholds used by AEL for data
analysis.
• Review of GRI disclosures on sample basis for the duration from 1st April 2022 to 31st March of 2023 for AEL
was carried out onsite at Adani’s corporate office.
• Appropriate documentary evidence was obtained to support our conclusions on the information and data
reviewed and details would be provided in a separate management report.
Conclusions
Intertek reviewed selected sustainability disclosures provided by Adani in its Report. Based on the data and
information provided by Adani, Intertek concludes with limited assurance that there is no evidence that the
sustainability data and information presented in the Report is not materially correct. The report provides a fair
representation of GRI disclosures and is in accordance with the GRI Standards to the best of our knowledge.
Adani Enterprises Ltd.| Sustainability Report FY2022-23 | Limited Assurance Statement Page 2 of 3 Adani Enterprises Ltd.| Sustainability Report FY2022-23 | Limited Assurance Statement Page 3 of 3

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Adani Enterprises Limited

Sustainability Report 2022-23

26% 55% 28% 63% ~67% 12%

13% 82% Majority of

Adani Enterprises Limited

2 Adani Enterprises Limited 3

Contents About the Report

Reporting Frameworks Mumbai, and Thiruvananthapuram. The data pertaining to

4 Adani Enterprises Limited 5

Your Group Will Continue

Has Built While Looking at to be hit by multiple shocks, be it the climate

Expanding its Horizons.

Mr. Gautam S. Adani

6 Adani Enterprises Limited 7

The Shortselling Incident It’s All About a Better Tomorrow

to withdraw and return the money to our investors to

8 Adani Enterprises Limited 9

10 Adani Enterprises Limited 11

12 Adani Enterprises Limited 13

Environment Social Governance

25% 10% 26% 100% 100% 100%

25% 10% 55% Annual Safety Assessment

15% 10% 28% 40% 20% 35% Zero Zero 100%

16,04,885 13,00,000 13,02,817

14 Adani Enterprises Limited 15

We are a leading business

16 Adani Enterprises Limited 17

18 Adani Enterprises Limited 19

Natural Resources Solar Manufacturing Airports

Mining Services IRM volume,

20 Adani Enterprises Limited 21

Data Center Roads and Water Defence and Aerospace

22 Adani Enterprises Limited 23

1 Gujarat Chamber of Commerce State

2 Federation of Indian Chambers of National

AEL Businesses Products and Services

Kutch Copper Ltd. Natural Resources Mine development and operations

24 Adani Enterprises Limited 25

Type of Type (Domestic/

Maharastra Project State

26 Adani Enterprises Limited 27

1988 1994 1995 1996

2006 2005 2001 1999

2007 2008 2009 2010

2019 2018 2017 2015

2020 2021 2022 2023

28 Adani Enterprises Limited 29

30 Adani Enterprises Limited 31

Key Priorities Prosperity Key Actions

Peace Key Enablers

Partnerships Key Enablers

32 Adani Enterprises Limited 33

Industry Develop network and enable • Events As required • Knowledge sharing

Building a Use feedback

34 Adani Enterprises Limited 35

Key Drivers for Enhancing Enterprise Value*

36 Adani Enterprises Limited 37

38 Adani Enterprises Limited 39

Board Age Profile (%) Board Experience (%) Areas of Expertise