UltraTech Cement Ltd

UltraTech emphasizes strong governance to steer climate change actions and create long-term stakeholder value. The company's efforts to embed sustainability in all business groups continue to receive strong support from the Board of Directors and senior management. It has established a robust governance framework to shape climate change and sustainability strategies for driving related actions, addressing risks and opportunities, and ensuring accountability. This framework consists of a Board level Risk Management and Sustainability Committee, chaired by an independent director and includes executive directors. - The Board of Directors oversees climate-related risks and opportunities, ensuring alignment with strategic objectives. - The Chief Sustainability Officer (CSO) works closely with the Board-level committee and the respective Unit-level committees as well as teams, in the implementation and review of the climate performance of the Company. - The Risk Management and Sustainability Committee is responsible for integrating climate-related considerations into the company's risk management, strategic planning processes, execution of the company's climate strategies, and periodic monitoring and review. The committee meets half-yearly to oversee progress against climate change related targets and commitments and to review developments in external environment and climate-related risks and opportunities. Topics of discussion and review include, but are not limited to: Net Zero commitment, GCCA climate ambition, Renewable energy targets, Science-Based Target initiative (SBTi), and Water Positivity targets.

Sustainability governance\n\n At UltraTech, sustainability is a top priority over which the Board maintains a keen oversight. Together with the senior management, the Board drives the implementation of our sustainability agenda.\n\n Board-level implementation\n\nWe have a Board-level Risk Management and Sustainability\nCommittee, comprising an Independent Director, Managing\nDirector, Chief Finance Officer among others.\n\nKey responsibilities of the committee include:\n\n y Drive the implementation of the sustainability roadmap\nacross business functions and verticals\n\n y Set targets and identify various business risks (including\nclimate change risk) and recommend action plans. The\ncommittee meets quarterly to discuss the work done and\nstrategies on the way forward\n\n y Implement these strategies and monitor our progress\non sustainability by integrating all our functions in the\nprocess, right up to the manufacturing units, which have\ntheir respective Unit Sustainability Committees. These\nare led by the respective Unit Heads to ensure that\nsustainability thinking permeates down the ranks and\nacross activities\n\n y Monitor sustainability performance such as CO2 intensity,\nHealth & Safety, energy performance, alternative fuel\nand water positivity, which are part of our executive\ncompensation targets\n\n y Our Managing Director's compensation metric is linked\nto business performance (including financial performance\nmetrics like profitability, return on capital employed, along\nwith metrics like market share and safety).\n\n Unit-level implementation\n\nA two-way approach is followed with respect to adopted\ngoals and targets across units. The Unit Head-led\nSustainability Committee implements targets set by the\nCorporate Sustainability Committee and identifies areas for\nimprovement specific to the site.\n\n y The Unit-lead Sustainability Committee comprises all\nFunction Heads, including Technical, Process, Thermal\nPower Plant, Mines, Health & Safety, Human Resources\n(including ER, IR and Admin), Environment, Civil and CSR\nfunctions, Sustainability, Self‑Assessment Questionnaire\n(SAQ) coordinators. The committee is chaired by the Site\n\nManager. SAQ coordinators are the identified executives\nwho are responsible for implementing Group sustainability\ntargets within UltraTech\n\n y The committee meets on a quarterly basis. The convener\nof the meeting is the Functional Head (Technical), who is\nsupported by Sustainability coordinators at the plant\n\n**GRI 102-20** **GRI 102-12, 102-47**

|Contributions and Spending (INR)| [...] |Trade Association or Tax-exempt groups| [...] |Sustainable Supply Chain| [...] |Oversight of the program|Board level committee| [...] |Information Technology / Cybersecurity| [...] |Highest Governing Position/Committee| [...] |Board Level|Risk Management and Sustainability (RMS) Committee| [...] |Stakeholder Engagement| [...] In line with the requirements of the Group Sustainability Framework (Technical Standard) and UTCL Stakeholder Policy, stakeholder engagements are understood to have direct or indirect implications on business operations and therefore included in the annual performance review of top managers at local operations. Clear mandate by the technical standard includes implementation of the stakeholder engagement plan (including budget allocation, roles and responsibilities and review and monitoring mechanism). The unit head being the senior most person at a given operational location oversees the key responsibility areas (KRAs) for the involved teams. In addition to the Unit head, the other functional heads such as HR head and Mines head are involved in ensuring diligent implementation of the tenets of the Group- and Company-level policies for stakeholder engagement. Additionally, stakeholder relationship committee at the board level oversees the findings of the stakeholder engagement.

UltraTech has established a robust governance framework to shape climate change and sustainability strategies for driving related actions, addressing risks and opportunities, and ensuring accountability. This framework consists of a Board level Risk Management and Sustainability Committee ("RMC") chaired by an independent director and includes executive directors. The Committee guides all aspects of our operations, ensuring sustainable resource utilization aligned with our vision and mission. It plays a pivotal role in overseeing climate risk and its impact on business and etching climate change and sustainability related aspects in the Company's core business strategy. We make all decisions in alignment with our vision and mission statement and design strategies that are in the best interests of all stakeholders. [...] The board has identified several skills, expertise and competencies to effectively function and discharge their responsibilities, including industry knowledge, Innovation, Corporate Governance, Strategic Expertise, Sustainability, Risk Management, etc. The RMC is responsible for driving the Company's climate change agenda, and the Managing Director is responsible for its implementation. [...] The Chief Sustainability Officer (CSO) works closely with the Board-level committee and the respective Unit-level committees as well as teams, in the implementation and review of the climate performance of the Company. [...] The objectives and scope of the RMS Committee broadly include: Overall responsibility to monitor and approve risk management and sustainability framework. Set climate change and sustainability strategies and targets - Implement strategy and targets through Corporate and Unit- level Risk Management and Sustainability Committees - Review the progress of climate change and sustainability-related targets, KPIs, and issues regularly - Monitor and approve risk management and sustainability framework - Review various business risks, including climate change risks, and recommend an action plan to mitigate the identified risks [...] The committee meets half-yearly to oversee progress against climate change related targets and commitments and to review developments in external environment and climate-related risks and opportunities. Topics of discussion and review revolved around the below areas: - Net Zero commitment - GCCA climate ambition - Renewable energy targets - Science based target initiative (SBTi) - Water positivity targets [...] Company-level targets, commitments, and action plans pertaining to sustainability and climate change are also reviewed by Unit-level Committees. The Corporate Sustainability Team ensures that key decisions and responsibilities at the board level are relayed to Unit-level Committees. The Unit Head leads the Unit-level committees and consists of senior management at respect units. The Unit-level committees translate targets and commitments at the company level, such as commitment to Science Based Targets, renewable energy targets, water positivity targets, etc., to site-specific action plans. [...] UltraTech encourages management and achievement of climate related targets by integrating in the key responsibility areas (KRAs) of respective personnel and providing performance incentives. Climate change and sustainability targets have been integrated with the KRAs of the executive directors and senior management. Initiatives such as increasing alternative fuel rate, energy efficiency, increasing the share of WHRS, water positivity, and renewable energy, among others, are also part of our executive compensation targets.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]We are part of GCCA. GCCAis commited to net zero.
GCCA is working towards making it possible, and it is working towards influencing policy/frameworks that can accelerate net zero transition. All the communications related to policy advocacy, we work through Global Cement and Concrete Association (GCCA) and Cement Manufacturing Association (CMA). We support the organizations' efforts.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes