Sustaining Value.
Creating Tomorrow
Integrating Sustainability into Every Step of Our Precious Metal Journey
At Hindustan Platinum, sustainability is more than a responsibility, it is the core of who we are. Guided by a purpose to create meaningful impact for people, planet, and prosperity, we integrate sustainability at every level of our business. From pioneering green chemistry innovations to empowering communities, we are shaping a future where progress and environmental stewardship go hand in hand. Together, we build not just a sustainable company, but a sustainable world.
Our Commitment to Sustainability
Sustainability
Vision:
To redefine the role of precious metals in creating a sustainable, circular, and equitable future, driving innovation, empowering communities, and safeguarding the planet for generations to come.
Sustainability Mission
We are committed to creating enduring value by integrating sustainability across our operations, minimizing environmental impact, fostering social progress, upholding governance excellence, and accelerating the transition to a circular, low-carbon economy.
People & Planet First Strategy
At Hindustan Platinum, Planet & People First is not just a guiding principle, it’s a strategic commitment to embed sustainability at the heart of everything we do. This strategy comes to life through Project Harmony, our dedicated platform to drive measurable, accountable ESG action across our business.
Project Harmony translates this commitment into focused ESG initiatives aligned with both priorities and responsibilities, creating tangible impact for the environment, our people, and the communities we serve.
Aligned with the UN SDGs and shaped by stakeholder priorities, Planet & People First transforms our ambition into action.
Creating Sustainable Value for Business, People, and the Planet
At Hindustan Platinum, sustainability is more than a commitment, it’s the foundation of how we create value. Our Sustainability framework integrates economic growth, social responsibility, and environmental stewardship, built on governance, ethics, and accountability.
Protecting the Planet. Innovating for a Greener Tomorrow.
We are committed to reducing environmental impact through eco-efficiency, circular economy practices, and climate action.
Focus Areas:
- Eco-Efficiency & Climate Action
- Circular Economy Practices
- Environmental Impact Management
Driving Growth with Responsibility and Purpose
We believe true growth is sustainable, inclusive, and responsible. Through innovation and supply chain accountability, we foster local prosperity while protecting resources for future generations.
Focus Areas:
- Sustainable Products & Innovation
- Supply Chain Responsibility
- Local Economic Development
Empowering People. Strengthening Communities.
People are at the heart of our sustainability journey. We invest in well-being, inclusivity, and community partnerships to create meaningful change.
Focus Areas:
- Human Capital & Well-being
- Social Impact Programs
- Stakeholder Engagement
Built on Integrity. Governed by Purpose. Driven by Trust.
Strong governance underpins long-term sustainability. We uphold the highest standards of integrity, ethical conduct, and proactive risk management.
Focus Areas:
- Ethical Conduct & Compliance
- ESG Risk Management
- Transparency & Reporting
Driven by Purpose. Defined by Responsibility.
At Hindustan Platinum, sustainability is embedded in everything we do. Our ESG Framework guides us to grow responsibly, protect the planet, empower people, and uphold ethical governance, embedding sustainability in everything we do.
Environmental: Protecting the Planet, Driving Innovation
- Climate Action: Reducing emissions, improving efficiency, shifting to renewables
- Resource Conservation: Safeguarding water, cutting pollution, protecting biodiversity
- Waste Reduction: Managing waste through reduction, reuse, and recycling
- Innovation: Investing in R&D for cleaner, sustainable solutions
Social: Empowering People, Strengthening Communities
- Human Capital Development: Safe, inclusive, rewarding workplaces
- Diversity & Inclusion: Equal opportunity for all
- Responsible Value Chain: Sustainable collaboration with suppliers & customers
- Community Impact: Supporting local communities through meaningful CSR initiatives
Governance: Leading with Integrity, Acting with Transparency
- Proactive Risk Management: Identifying ESG risks & preparing for crisis response
- Corporate Governance: Ethical leadership & compliance
- Fair Business Practices: Acting with integrity and responsibility across all operations.
- Transparent Reporting: Reliable, globally aligned disclosures
Execution-Driven. Globally Aligned. Actionable.
Our operating model turns commitment into execution and measurable outcomes. It embeds sustainability in decision-making, risk management, and innovation at every level.
- Turning Purpose into Action: Governance practices, policies, and double materiality analysis align commitments with SDGs and UNGC priorities.
- Engaging Stakeholders for Shared Value: Employees, customers, regulators, and communities collaborate to co-create sustainable outcomes.
- Aligning with Global Standards & Ratings: Disclosures aligned with GRI, SBTi, CDP, UNGC, and EcoVadis benchmarking.
- Measuring What Matters: Risk-based ESG management (TCFD), transparent progress tracking, and continuous improvement ensure long-term value.
Driving Accountability with Robust ESG Governance
At Hindustan Platinum, ESG accountability starts at the top and cascades across the organisation. Our multi-tiered governance model ensures sustainability is embedded into strategy, operations, and culture.
1. Board Oversight for Purpose-Driven Leadership
The Board & CSR Committee provides top-level direction and governance, ensuring ESG principles are integrated into our purpose, values, and business strategy.
2. Executive Committee, Steering Sustainability Strategy
Shapes sustainability goals, policies, and roadmaps, while aligning with corporate priorities, risk management, and ESG monitoring.
3. Operations Committee, Translating Strategy into Impact
Our Operations Committee (in progress) will translate sustainability goals into operational reality. This committee ensures on-ground execution by implementing sustainability targets, measuring impact, and enabling cross-functional collaboration.
4. Dedicated Working Groups for Driving Execution
Specialised Environment, Social, and Governance Working Groups roll out initiatives. They drive continuous improvement (CI), employee training, stakeholder engagement, and transparent reporting.
Project Harmony: Advancing Sustainability. Creating Shared Prosperity.
Our flagship sustainability initiative, integrating environmental responsibility, social progress, and circular innovation for a better tomorrow.
01
About Project Harmony:
Project Harmony is our flagship sustainability initiative, born from the belief that true progress happens when business growth and social responsibility move forward together, in harmony.
02
Materiality Assessment: Focusing on What Matters Most
As part of Project Harmony, we undertook a comprehensive Materiality Assessment to identify the sustainability priorities that are most relevant to our operations and stakeholders.
03
Environment: Protecting Our Planet
We are committed to minimizing environmental impact and maximizing positive change. Our operations focus on circular economy principles, decarbonization pathways, energy efficiency, and pioneering innovations in green chemistry.
04
Social: Empowering Lives
We believe that businesses thrive when communities do. Through partnerships, local initiatives, and skill development programs, we uplift lives, create equitable opportunities, and foster well-being. Our people-centric approach ensures that growth is inclusive and future-ready.
05
Governance: Responsible, Transparent, Ethical
Strong governance is the foundation of our sustainable growth. We uphold the highest standards of ethics, compliance, and risk management. By fostering a culture of integrity and transparency, we create long-term value for all stakeholders.
06
ESG Software Platform
We’ve integrated Updapt, a next-gen ESG SaaS platform, to power real-time tracking, analytics, and reporting across our sustainability initiatives.
ESG Targets FY25-26
At Hindustan Platinum, we are committed to embedding Environmental, Social, and Governance (ESG) principles into every aspect of our operations. Our ESG targets are designed to drive responsible growth, reduce our environmental footprint, and create long-term value for all stakeholders.
- Environmental: Achieve net-zero operations by 2050 with interim milestones for carbon, energy, water, and waste.
- Social: Enhance workplace safety, diversity, equity, and community engagement with measurable annual improvements.
- Governance: Maintain the highest levels of ethical conduct, transparency, and compliance across global operations.
Vision
To achieve a net-zero carbon footprint by 2050, aligned with global climate goals, while ensuring sustainable value creation for our customers and communities.
Key Focus Areas
- Energy Transition
- Increase renewable energy share in operations to 50% by 2030.
- Implement solar and green power purchase agreements at all sites.
- Process Innovation
- Invest in energy-efficient technologies across refining, catalyst, and manufacturing units.
- Scale adoption of Industry 4.0/5.0 for predictive efficiency and lower emissions.
- Sustainable Supply Chain
- Partner with suppliers for responsible sourcing and low-carbon logistics.
- Introduce ESG scorecards for supplier performance evaluation.
- Carbon Offsetting & Neutralization
- Participate in verified carbon offset projects.
- Support afforestation and biodiversity conservation in local communities.
Assured GHG Emissions, Clear Climate Action (Science Based Targets initiative – SBTi Alignment)
Target Scope 1
- Biogas & Biomethane
- Biodiesel
- Ethanol-blended Petrol
- R32 Refrigerant
- Electrification (EVs)
Target Scope 2
- Solar Power
- Wind Power
- Hybrid Power
Target Scope 3 (Upstream)
- Sustainable Procurement & Transportation
- Circular Economy
- Waste Reduction
- Optimize material use
- Reduce Business Travel
- Expand Virtual Meetings
NetZero Targets for Scope 1 and Scope 2
- Scope 1 & 2 Emission: 10,358 tCO2 (Baseline FY24)
- Near Term: 2034-35, 63%, 6527.74 tCO2e
- Long Term: 2044-45, 37%, 10358.33 tCO2e
NetZero Targets for Scope 3
- Scope 3 Emission: 22,949 tCO2 (Baseline FY24)
- Near Term: 2034-35, 37.5%, 8606.22 tCO2e
- Long Term: 2049-50, 62.5%, 22949.25 tCO2e
From Green Energy to Zero Waste (Our SBTi Aligned Decarbonization Blueprint)
| Target Emission Type | Max. Year (Near Term) | Reduction % (Near Term) | Reduction (tCO2e, Near Term) | Max. Year (Long Term) | Reduction % (Long Term) | Reduction (tCO2e, Long Term) |
|---|---|---|---|---|---|---|
| Scope-1 & 2 | 2034-35 | 5.73% (YoY) | 593.25 tCO2e (YoY) | 2044-45 | 3.7% (YoY) | 383.26 tCO2e (YoY) |
| 2034-35 | 63% by 2034-35 | 6527.74 tCO2e by 2034-35 | 2044-45 | 37% by 2044-45 | 10358.33 tCO2e by 2044-45 | |
| Scope-3 | 2034-35 | 3.41% (YoY) | 782.38 tCO2e (YoY) | 2049-50 | 4.17% (YoY) | 956.25 tCO2e (YoY) |
| 2034-35 | 37.5% by 2034-35 | 8606.22 tCO2e by 2034-35 | 2049-50 | 62.5% by 2049-50 | 22949.25 tCO2e by 2049-50 |
Strategic Roadmap for FY25-26
Guided by global frameworks and customer expectations, our FY25-26 roadmap focuses on actionable outcomes in climate action, resource efficiency, and transparent governance.
- Life Cycle Assessment (LCA) across major product lines
- Product Carbon Footprint (PCF) disclosure
- Science Based Targets (SBTi) – Scope 1, 2, 3 Near-term and Long-term targets
- Transparent reporting via CDP
- Alignment with Circular Economy practices
- Focus areas: Energy | Emissions | Resource Efficiency | Circularity
- Partnerships with Choksi Charitable Foundation
- Programs for education, healthcare, and environmental welfare
- Alignment with UN Sustainable Development Goals (SDGs)
- Employee engagement and ESG capability building via dedicated Training programs
- Diversity, Inclusion & Well-being focus
- ESG Reporting aligned with Global Reporting Initiative (GRI) standards
- Deployment of Updapt ESG platform for reliable ESG data
- Robust compliance with customer-specific sustainability requirements
- Internal ESG committees for governance oversight
- Transparent disclosures to stakeholders
Hindustan Platinum x SBTi
The Science Based Targets Initiative (SBTi) is a collaborative effort by CDP, the UN Global Compact, the World Resources Institute, and WWF. It encourages businesses to set ambitious GHG reduction targets aligned with limiting global warming to less than 1.5°/2°C.
As a responsible corporate entity, we have committed to setting both near and long-term emission reductions in line with science-based net-zero under the SBTi. This commitment also aligns us with the UN-backed Race to Zero campaign.
Responsible Sourcing
We believe in holding ourselves to the highest standards of ethical, moral and social responsibility. In keeping with our commitment, we comply with the all the applicable laws and rules that govern our business
How Do We Stay Responsible
At Hindustan Platinum, we understand that the more we give, the more we grow. We actively look for opportunities to reduce our impact on the environment and to contribute to the well-being of communities around us.
01
Climate Change & Environmental Impact
For us, our responsibility to preserve the environment comes first. We consistently work towards developing and adopting solutions that are better for our planet.
02
Customers & Vendors
Our success relies on the satisfaction of our stakeholders and we ensure that we address all their needs and work towards building trust.
03
Employees
When our employees are engaged and empowered we thrive. We go the extra mile to ensure they have a sense of purpose and feel valued and fulfilled at work.
Our Commitment
In response to the urgent call for climate action, we acknowledge the latest IPCC climate science, which the UN has described as a “code red for humanity”. Despite the grave warnings, it is still possible to limit global temperature rise if we act now.
We're playing our part, and all of us must, as rapid and deep emission cuts are extremely important in halving global emissions before 2030 and achieving net-zero before 2050.
And while we ensure that our efforts towards the environment are ceaseless, we’re just as determined in catalysing sustainable changes which ensure a positive societal impact.
