Misra committed to decarbonising operations and transitioning to the production of Green Products of zinc and lead
As part of its India’s ‘Net Zero’ plan, Hindustan Zinc has set an ambitious target for a 40% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy.
Towards this goal, Hindustan Zinc has approved a proposal for entering a long-term group captive Renewable Power development plan for a capacity of 200-MW.
The project will be built under Group Captive norms and Build Own Operate (BOO) basis by a Special Purpose Vehicle (SPV), in which the company will own 26% of the equity with contributions up to Rs.350 crore. The SPV is expected to start supplying electricity within 24 months of the signing of the Power Delivery Agreement (PDA).
It is in line with Hindustan Zinc’s strategic objective of reducing dependence on conventional sources of energy and transitioning from thermal power to Renewable power, thereby reducing GHG emissions of its operations.
This reaffirms the company’s proactive approach to sustainability which will go a long way toward maintaining the leadership position in Dow Jones Sustainability Index.
Commenting on the development, Hindustan Zinc CEO Arun Misra said on 1 April, “I am elated that we are marching ahead in our ESG roadmap for the development of renewable power supply up to 200 MW.
“Hindustan Zinc stands committed to decarbonising its operations and transitioning to the production of Green Products of zinc and lead. We remain proactive towards investing in our climate change initiatives and thereby progress on our journey of net zero by 2050.”
As a market leader, Hindustan Zinc governs about 78% of the growing Zinc market in India.
Hindustan Zinc, a Vedanta Group Company, is one of the world’s largest and India’s only integrated producers of Zinc-Lead and Silver. The Udaipur-headquartered operator of Zinc-Lead mines and smelting complexes is self-sufficient in power with captive thermal power plants. It has ventured into green energy by setting up wind power plants.
Hindustan Zinc was ranked 1st in Asia-Pacific and 5th globally in Dow Jones Sustainability Index in 2021 amongst Mining & Metal companies. It is a certified Water Positive Company, a member of the FTSE4 Good Index and S&P Global Sustainability Yearbook 2022 as well as a Bronze Medal winner at the S&P Global Sustainability Awards.
Being a people-first company, Hindustan Zinc inculcates the values of Trust and Excellence for a culture of high performance in its workforce.
As a socially responsible corporate, Hindustan Zinc has been relentlessly working to improve the lives of rural and tribal people residing near its business locations. The company is amongst the Top 15 CSR Spenders in India and is currently reaching out to 700,000 people in 184 villages of Rajasthan, 5 in Uttarakhand and 16 villages in Gujarat. fiiews.com
