Udaipur, Nov 12, 2024: Hindustan Zinc has launched its 4th Climate Action Report aligned with the International Financial Reporting Standards (IFRS) S2 - Climate-related Disclosures, making it the first Indian company in the metals and mining sector to do so.
Hindustan Zinc continues to develop its climate-resilient strategies to drive decarbonization towards achieving Net Zero emissions by 2050 or sooner.
Aligning with the scenarios of International Energy Agency’s (IEA) 2023 World Energy Outlook report, Hindustan Zinc’s Climate Action report focusses on climate-related disclosure and provides comprehensive and comparable information about the company’s climate action strategies and climate change mitigation plans.
The report aims to inform stakeholders about business-related opportunities, climate management strategies, commitment and performance, in the context of climate change. It also outlines the climate-related transitional and physical risks within its operations and value chain, including both suppliers and customers.
Sharing her thoughts on the launch of Climate Action Report, Priya Agarwal Hebbar, Chairperson, Hindustan Zinc Limited, said, "At Hindustan Zinc, sustainability is at the core of who we are. This report reflects collective efforts, and the strides we have made towards a green future. Significant actions have been taken to create impactful change, particularly our focus on increasing renewable energy mix in line with our SBTi commitment. This report is aligned with the International Financial Reporting Standards (IFRS) S2, reaffirming our commitment to transparency in climate action. We are focused on sustainably producing critical minerals and aiding India's ambitious net zero targets."
Hindustan Zinc has partnered with a recognized firm to provide an independent assurance report on its climate-related disclosures, in line with the Assurance Standard ISAE 3000.
The report outlines Hindustan Zinc’s approach to mitigating its carbon footprint, aligned with validated Science Based Targets Initiative (SBTi) goals. To mitigate emissions, the company is scaling up the use of renewable energy, enhancing operational efficiency and deploying low-carbon fuel and battery electric vehicles across its operations. To offset its carbon footprint, Hindustan Zinc is undertaking large-scale afforestation efforts, with a commitment to plant 1 million saplings by 2025, creating vital carbon sinks across its operational units.
Furthermore, the company continues to conduct comprehensive value chain assessments, examining both key suppliers and customers’ sites for potential climate risks and opportunities and conducts regular training for vendors to raise awareness about sustainable practices, climate change, water conservation etc. This allows Hindustan Zinc to adopt a more holistic approach to climate resilience by addressing risks and dependencies at every stage of the value chain.
According to the Climate Action Report, the company has achieved 14% reduction in GHG emissions intensity in FY 2024 compared to year 2020 baseline.
It launched EcoZen, Asia’s first low carbon ‘green’ zinc with a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc produced
2.41 times water positive, a significant achievement considering its operations are in water-starved Rajasthan.
It is the first metal and mining company in India to have validated Science Based Targets Initiative (SBTi) targets in alignment with the 1.5°C Paris Agreement. The company signed power delivery agreement for 450 MW round-the-clock renewable power, first power flow initiated from 180 MW Bikaner solar power project.
It has 100% renewable power sourcing for Pantnagar (Uttarakhand) Metal Plant. It is the first Indian company to deploy battery electric vehicle (BEVs) in underground mine.
The report also highlights the company's successful biomass utilisation in Captive Power Plant resulting in 76,035 TCO2e emission reduction; and increasing circular economy avenues through gainful utilization of by-products like Fly Ash & Jarosite (processing by-product) in cement production & road construction.
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