September 2023:Hindustan Zinc, India’s largest & only integrated producer of Zinc, Lead & Silver, has received validationon itsnear-term &net-zero targetsby 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 ambitious1.5°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 SBTiwas formed as a collaborationbetween CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI), the WorldWide Fund for Nature (WWF) and the We Mean Business Coalition,to driveambitiouscorporateclimate action by enabling businesses and financial institutions globally to set science-based greenhouse gas emissionsreduction targets.
Commenting on this milestone, ArunMisra– CEO, Hindustan Zinc said, “This validationof 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 validatedthe company’s targets against the Net-Zero and the Near-Term Target Criteria and Recommendations. By aligning its targets with science-based criteria, Hindustan Zinccontinues 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 PantnagarMetal Plant.