India’s energy giant, the Oil and Natural Gas Corporation (ONGC), has unveiled a bold plan to achieve net-zero carbon emissions by 2038. This 200-page roadmap outlines a two-pronged approach: aggressively investing in clean energy sources while simultaneously curbing its environmental footprint from existing operations.
The document meticulously outlines the company’s emissions profile, differentiating between Scope 1 (direct emissions from sources owned or controlled by ONGC) and Scope 2 (indirect emissions from purchased electricity). Additionally, it details the projected offset of 9 million tonnes of carbon emissions through its clean energy initiatives.
ONGC was established in 1956 by the Government of India for oil exploration. ONGC is the largest crude oil and natural gas Company in India, contributing around 71 % to Indian domestic production.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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