- 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 Limited (BSE: 500188 and NSE: HINDZINC), a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category by the S&P Global Corporate Sustainability Assessment 2023, reflecting its operational excellence, innovation, and leading ESG practices. The company also launched EcoZen Asia's first low carbon 'green' zinc brand. Produced using renewable energy, EcoZen has a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc produced, about 75% lower than the global average. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. Transforming the lives of 1.9 million people through its focused social welfare initiatives, Hindustan Zinc is among the Top 10 CSR companies in India. As a world leader in the metals and mining industry, by Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition for a sustainable future
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