National Energy Conservation Day: Hindustan Zinc announces energy savings of over 0.8 million GJ in just 1 year

Hindustan Zinc Limited (NSE: HINDZINC), India's largest and the world's second largest integrated zinc producer, announced cumulative energy savings of over 0.8 million Gigajoules (GJ) in FY 24. For context, this quantum of energy savings could power over 70,000 Indian households around the year. The company also announced the expansion of its renewable power delivery agreement (PDA) to 530 MW (capacity includes earlier signed PDAs) following approvals in the last Board meeting. This will increase the overall renewable energy contribution to over 70% of total power requirement by 2026. Hindustan Zinc has already signed power delivery agreements to source 450 MW round the clock renewable power.

Taking forward Hindustan Zinc's vision of responsible and sustainable manufacturing, the company continues to invest in innovative energy-efficiency projects such as revamping of all the turbines in its captive power plants, improvement of cellhouse efficiency, installation of variable frequency drives across operations, switching from high-speed diesel to piped natural gas which has a lower carbon footprint, resulting in energy savings and reduced carbon emissions across its operations. This reaffirms the company's commitment to championing energy efficiency and conservation through transformative innovations in the manufacturing industry.

Recognized as the world's most sustainable company in S&P Global Corporate Sustainability Assessment 2023, Hindustan Zinc continues its journey towards achieving Net Zero by 2050 or sooner. The company is focusing on decarbonizing its operations by increasing the quantum of renewable energy in its energy mix, enhancing operational efficiencies to reduce energy consumption and transitioning to cleaner fuels & electric vehicles. Earlier this year, Hindustan Zinc started receiving the first flow of renewable power that was utilized in the production of Asia's first low-carbon 'green' zinc - EcoZen.

It is a strategic imperative for the company to reduce dependence on conventional sources of energy thereby reducing carbon emissions across every process stage. As a result of this unwavering focus, Hindustan Zinc has reduced its GHG emissions intensity by 14% in FY24 over year 2020 baseline while increasing production volumes.

Commenting on the development, Ms. Priya Agarwal Hebbar, Chairperson Hindustan Zinc Limited said: "For us at Hindustan Zinc, sustainable practices and good business sense are two sides of the same coin. I am elated that we are marching ahead in our ESG roadmap for development of renewable power supply up to 530 MW. This in line with our mission to be net zero by 2050 or sooner. Our energy and climate action initiatives are centred on a two-pronged approach of mitigating and offsetting our carbon footprint. We are committed to adopting renewable energy sources, optimising resource use and investing in innovative technologies that align with global climate goals."

The company prioritises energy efficiency across all operations. This commitment manifests in investments in cutting-edge energy-saving technologies, process optimisation and fostering a culture of conservation among its employees. Aligning with India's achievements in energy efficiency, under the guidance of the Bureau of Energy Efficiency (BEE), Hindustan Zinc observed No vehicle day for the 4th consecutive year. All the employees and business partners of the company used public transportation, electric vehicles, cycled, or walked to the office, creating a larger impact with an aim to spread awareness on optimizing energy consumption and minimizing automobile pollution to reduce carbon footprint. The company conducted a week-long celebration across its business units where various activities like earth hour, a training session on energy conservation and poster-making & quiz competitions motivated all the employees, business partners to become ESG Champions.

Notably, Hindustan Zinc is the first Indian company in the metals & mining sector to secure validated Science Based Targets Initiative (SBTi) targets, aligning with the ambitious 1.5°C global warming threshold. Further establishing its strong commitment to sustainability, the company's extensive product portfolio is the first in the country to be Environmental Product Declaration (EPD) verified thus providing comparable data on the product's environmental footprint. The company has also received the prestigious Leadership Band (A-) designation from the Carbon Disclosure Project (CDP) for its exemplary efforts in water security and climate change.

Shares of Hindustan Zinc Limited was last trading in BSE at Rs. 500.25 as compared to the previous close of Rs. 501.65. The total number of shares traded during the day was 155383 in over 5449 trades.

The stock hit an intraday high of Rs. 501.65 and intraday low of 491.95. The net turnover during the day was Rs. 77149025.00.

Source : Equity Bulls

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