ONGC unveils Rs 2 trillion decarbonisation road map for net-zero 2038

Rs 2 trn allocated for 7 Gw of renewables, carbon capture, and green H2 plans

As part of its net-zero emissions road map, state-owned Oil and Natural Gas Corporation (ONGC) plans to offset 9 million tonnes (mt) of carbon dioxide (CO2) equivalent emissions (tCO2e) by 2038 at a total cost of Rs 2 trillion.

India’s largest oil and gas producer announced this initiative on Tuesday, making ONGC the first fossil fuel company in India to outline a detailed plan to reduce greenhouse gas (GHG) emissions over a fixed time period.

While other major Indian public sector undertakings such as Indian Oil Corporation (IndianOil), Indian Railways, and Coal India have declared net-zero targets,