Hindustan Zinc Joins the Taskforce on Nature-Related Financial Disclosures Forum, to Tackle Nature-Related Risks
Monday, October 4, 2021: Udaipur, Rajasthan, India:
- This step will play a significant role in protecting and enhancing the biodiversity
- The company also recently launched its first TCFD (Task Force on Climate-related financial disclosure) report which sets the adoption of the TCFD framework for climate change risk and opportunity disclosure
Hindustan Zinc today announced that it has joined the Taskforce on Nature-related Financial Disclosures (TNFD). Hindustan Zinc will work with TNFD members to provide a market-led framework for organizations to report and act on evolving nature-related risks. They will support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes.
TNFD will organize outreach programs across geographies to raise awareness about the criticality of climate change. It will play a significant role in helping to tackle environmental and biodiversity loss thus helping in transitioning towards an environmental positive future.
Speaking about the announcement, Mr. Arun Misra, CEO, Hindustan Zinc Limited said, “Protecting and enhancing biodiversity is an integral part of our commitment to sustainable development. Hindustan Zinc is pleased to announce that we have joined the TNFD Forum, a consultative body of institutions that support the vision and mission of the Taskforce on Nature-related Financial Disclosures. I believe it will be a valuable framework to understand nature-related risks and opportunities and accelerate the transition towards Nature positive and Carbon Neutral future. We are keen to contribute in delivering a risk management & disclosure framework for nature-related risks shaping the reporting framework that can guide business in considering nature and its services in business decisions and future investments.”
As a COP26 Business Leader, the company has always been actively initiating towards tackling the repercussions of climate change. The company is also among the only two metal & mining companies globally and among only four Indian companies to be a part of the coveted CDP (Carbon Disclosure Project) ‘A List’ 2020. Hindustan Zinc has set Sustainability Development Goals 2025 for themselves where the company is aiming towards protecting and enhancing biodiversity throughout the life cycle under the Biodiversity Conservation goal.
Epitomizing toward smart, secure, and sustainable operations, the company also recently launched its first TCFD (Task Force on Climate-related financial disclosure) report which sets the adoption of the TCFD framework for climate change risk and opportunity disclosure which will enable the stakeholders to evaluate the climate change-related performances for future. Hindustan Zinc has also committed to a ‘Long-term target to reach net-zero emissions by 2050’ in alignment with the Science-Based Targets initiative (SBTi).
The TNFD Forum is a global multi-disciplinary consultative group of institutions launching with over 100 Forum members. These institutions share the vision and mission of the TNFD and have expressed the willingness to make themselves available to contribute to the work of the Taskforce. The TNFD Forum is open for membership and expected to grow over time as more organizations become aware of the importance of their engagement and come on board to support a shift in financial flows towards nature-positive outcomes. In addition to the already confirmed Forum members, a further 100 institutions have also expressed interest in joining the Forum in the short term.
About Hindustan Zinc Limited
Hindustan Zinc, a Vedanta Group Company, is one of the world’s largest and India’s only integrated producer of Zinc-Lead and Silver. The Company has its Headquarter at Udaipur in the State of Rajasthan where it has its Zinc-Lead mines and smelting complexes. Hindustan Zinc is self-sufficient in power with captive thermal power plants and has ventured into green energy by setting up wind power plants. The Company is ranked 1st in Asia-Pacific and globally 7th in Dow Jones Sustainability Index in 2020 amongst Mining & Metal companies. Hindustan Zinc is a certified Water Positive Company, a member of the FTSE4Good Index and has scored ‘A’ rating by CDP for climate change.
Being a people-first company, Hindustan Zinc believes in inculcating the values of Trust and Excellence to have a culture of high-performance in its workforce. The company takes pride in having some of the best-in-class people practices and employee centric initiatives, which have certified Hindustan Zinc as – ‘Great Place to Work 2021’, ‘Company with Great Managers 2020’ by People Business and the PeopleFirst HR Excellence Award.
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 are currently reaching out to 700,000 people in 184 villages of Rajasthan, 5 in Uttarakhand and 16 villages in Gujarat. As a market leader, Hindustan Zinc governs about 78% of growing Zinc market in India.
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