- The company’s science-based greenhouse gas emissions reduction target conforms with SBTi Criteria and Recommendations
Udaipur, 16th September 2023: Hindustan Zinc, India’s largest & only integrated producer of Zinc, Lead & Silver, has received validation on its near-term & net-zero targets by the Science Based Targets initiative (SBTi). In a groundbreaking achievement, the company becomes the sole Indian company in Mining – Iron, Aluminum, Other Metals sector to secure validated SBTi targets, aligning with the ambitious 1.5°C global warming threshold.
Hindustan Zinc’s ambitious targets include a commitment to reducing 50% of absolute scope 1 and 2 GHG emissions and further reduction of 25% of absolute scope 3 GHG emissions by FY2030 from the base year FY2020 & achieving net-zero emissions across the value chain by FY2050. These target ambitions have been approved by the SBTi as in line with a 1.5°C trajectory. The SBTi was formed as a collaboration between CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF) and the We Mean Business Coalition, to drive ambitious corporate climate action by enabling businesses and financial institutions globally to set science-based greenhouse gas emissions reduction targets.
Commenting on this milestone, Arun Misra – CEO, Hindustan Zinc said, “This validation of our Near-Term and Net-Zero targets by the Science Based Targets initiative marks a significant milestone in our commitment to battle climate change. At Hindustan Zinc, we believe that aligning our emission reduction goals with science-based criteria is both a responsibility and a testament to our dedication towards a sustainable and resilient future for all. We are resolute in our mission to create positive environmental impacts and contribute to a low-carbon economy. We will continue to evaluate our future initiatives to align with positive environmental impact and well-being.”
The SBTi has rigorously validated the company’s targets against the Net-Zero and the Near-Term Target Criteria and Recommendations. By aligning its targets with science-based criteria, Hindustan Zinc continues to be resolute in its mission to lead by example and inspire positive stride in the industry and beyond. The company has been playing a pivotal role in addressing the global climate crisis. The company’s ambitions are in line with their actions as they have signed power purchase agreement of 450 MW RE-RTC and they are sourcing 100% green power for operations at Pantnagar Metal Plant.
About Hindustan Zinc Limited
Hindustan Zinc, a Vedanta Group company in Zinc-Lead and Silver business is world’s 2nd largest integrated Zinc producer and 5th largest Silver producer. The company governs about ~80% of the growing Zinc market in India with its headquarters at Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.
Hindustan Zinc is self-sufficient in power with captive thermal power plants and has ventured into green energy by setting-up wind power plants. The company is ranked 1st in Asia-Pacific for the fourth consecutive year and globally 3rd in S&P Global Corporate Sustainability Assessment in 2022 amongst Mining & Metal companies. Hindustan Zinc is a certified Water Positive company and is the only Indian company to be recognized at the S&P Global Platts Metal Award 2022 winning two prestigious awards for ‘Industry Leadership Award – Base, Precious & Specialty Metals’ Award and ‘Corporate Social Responsibility’ Award.
The company takes pride in having some of the best-in-class people practices and employee-centric initiatives, which have certified Hindustan Zinc as – ‘Great Place to Work 2023’, ‘Company with Great Managers 2022’ by People Business and the ‘People-first HR Excellence Award’.
As a socially responsible corporate, Hindustan Zinc has been relentlessly working towards transforming lives of 1.7 million people in 237 villages in the states of Rajasthan and Uttarakhand. The company is amongst the Top 15 CSR Spenders in India.