iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Hindustan Zinc joins vision of making India ‘Net Zero'; to invest Rs350 crore

31 Mar 2022 , 03:21 PM

In line with Prime Minister Narendra Modi’s vision of making India ‘Net Zero’, Hindustan Zinc has joined the global movement of leading companies that are aligning their business to limit global temperature rise to 1.5°C above preindustrial levels and reach net-zero value chain emissions by no later than 2050. We have set an ambitious target for a 40% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy.

Commenting on the development, Mr. Arun Misra, CEO said: “I am elated that we are marching ahead in our ESG roadmap for the development of renewable power supply upto 200 MW Hindustan Zinc stands committed to decarbonizing its operations and transition to production of Green Products of zinc and lead. We remain proactive towards investing in our climate change initiatives & thereby progress on our journey of net zero by 2050.”

Towards this goal, the company has approved the proposal for entering a long-term group captive Renewable Power development plan up to a capacity of 200MW.

This project will be built under Group Captive norms and Build Own Operate (BOO) basis under a Special Purpose Vehicle (SPV), in which the Company will own 26% of the equity with contributions upto Rs350 crore. This SPV is expected to start delivering the power within 24 months of the signing of the Power Delivery Agreement (PDA).

It is in line with company’s strategic objective of reducing dependence on conventional sources of energy & transitioning from thermal power to Renewable power thereby reducing GHG emissions of our operations. This reaffirms company’s proactive approach to sustainability which will go a long way toward maintaining our leadership position in Dow Jones Sustainability Index.

Hindustan Zinc is currently trading at Rs309 down by Rs2.15 or 0.69% from its previous closing of Rs311.15 on the BSE. The scrip touched intraday high and low of Rs314.25 and Rs308.75 respectively.

Related Tags

  • Hindustan Zinc news
  • Hindustan Zinc Share
  • Hindustan Zinc Stock
  • Hindustan Zinc Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.