The Adani Portfolio’s commitment to a circular economy The Adani Portfolio, with interests spanning energy, infrastructure, resources, logistics and others, has taken important steps towards creating circular economies. The circular economy concept is about reducing waste and making the most of given resources, minimizing environment impact and enhancing economic value. Some initiatives that highlight the Adani Portfolio’s commitment to a circular economy include: Waste reduction and recycling: Adani is implementing advanced waste reduction and recycling techniques across business verticals, reducing the strain on natural resources and minimizing waste dispatched to landfills. Sustainable energy: Adani is a major renewable energy player, with a focus on solar and wind power. By investing in clean energy sources, Adani is reducing its carbon footprint and contributing to a more sustainable energy landscape. Green transportation: Adani is committed to enhance the efficiency of its logistics and transportation operations, investing in electric and alternative fuel vehicles to reduce emissions and fuel consumption. Resource optimisation: Adani aims to maximise resource use across operations, whether in the mining of natural resources or in the development of infrastructure projects. Innovation and technology: Adani is exploring innovative technologies and processes to catalyse the circular economy, researching ways to increase the lifespan of products, designing for enhanced durability, while developing new methods to recover and reuse materials. Stakeholder engagement: Adani recognises that a circular economy is not just about internal practices; it is also about engaging with partners, suppliers, and customers to create a holistic and sustainable circular economies as part of our project and investment design. Community and social responsibility: Adani emphasises community engagement through social responsibility initiatives that create a positive impact on the well-being and livelihoods of local communities. By integrating circular economy principles into its operations and working collaboratively with various community level stakeholders, Adani is taking steps towards reducing environmental impact, conserving resources, and promoting long- term growth sustainability. This commitment reflects a strong sense of corporate responsibility and a vision for a more sustainable and prosperous world. Alternate fuels and raw materials (AFR) in cement manufacturing ACC contributes to the circular economy by utilising various wastes from other industries, termed as waste derived resources (WDR), into the cement manufacturing process. The Group uses waste materials from power and steel industries, such as fly ash and slag, as replacement for clinker in cement and makes co-processing of waste possible. During FY 2022-23, 8.52 million tonnes of fly ash, 3.98 million tonnes of slag, 1.3 million tonnes of synthetic gypsum including phosphogypsum was consumed as replacement for clinker in cement and makes co-processing of waste possible. In addition, the business continues to grow the consumption of alternative fuels, with a total consumption of 0.82 million tonnes of alternative fuels in cement manufacturing. A total of 14.62 million tonnes waste derived resources were consumed by ACC in the reporting year. Geoclean, the waste management arm of Ambuja Cement, pioneered co-processing waste in the cement kiln. It has four dedicated pre-processing facilities with installations for blending liquids, shredding solids and sludge as well as homogenising waste before it is co-processed sustainably at six locations. As Geoclean, the Group co-processes waste from industries and municipalities in its kilns as an alternative fuel. This reduced the use of traditional fuel, which, in turn, resulted in the conservation of natural resource and GHG mitigation, contributing towards a circular economy. Geoclean developed six pre- processing and 13 co-processing facilities with storage areas, feeding arrangements and laboratories across India, that supports ACC and Ambuja Cement. CASE STUDY Generating organic manure from kitchen/organic waste generated at ports. APSEZ took up the initiative at most sites to convert organic/kitchen waste to organic manure. A waste converter, with a total capacity of 600 Kg/day, was installed at its ports. This converter was responsible for processing kitchen and organic waste generated from the township, port canteens and waste collected from ships. The resulting compost was then used in-house for horticulture and nursery purposes. By implementing this waste management solution, APSEZ demonstrated its commitment to sustainable practices and reduced its environmental footprint by efficiently recycling organic waste into valuable resources. During FY 2022-23, 1373 MT kitchen waste was processed and the manure produced was used by the horticulture department for the development of nursery and greenbelt, reducing a dependence on chemical fertilisers. CASE STUDY Adani Solar sold 100% Calcium Fluoride (CaF 2 ) sludge, winning an award The solar manufacturing sector marked a significant achievement by successfully selling 100% of the Calcium Fluoride (CaF 2 ) sludge and being honored with the prestigious Golden Peacock Award. As a responsible corporate entity, the solar manufacturing business is committed to environmental sustainability and takes pride in its efforts to save the environment. In line with this commitment, it implemented a strategy to sell the sludge material generated from its processes to recyclers. In FY 2022-23, it sold 100% (3,117 metric tonnes) of CAF2 sludge to recyclers. The recyclers utilise the CaF2 sludge as a raw material in wall putty, reducing the solid landfill and promoting recycling and reuse. The cost of disposal, in case the sludge is not sold to recyclers, was estimated at H3,500 per metric tonnes; on the contrary, through successful sale to recyclers, the Group generated revenues. Reduce environmental footprint Minimise waste Generate increased income Reduce resource dependency Circular Economy Green products non-toxic, long-life recyclable Cleaner production using fewer resources Collect at end-of-life, remanufacture Better service to expand lifespan Recycle waste, reuse resources ESG Report 2022-23 123 122 Adani Group