The slow energy switch: IOC, BPCL, HPCL need faster ride to net-zero goals

Given their outsized contribution to air pollution & net-zero targets, state-run oil firms must accelerate cuts in greenhouse gas emissions. The country's hobbling renewable projects may delay plans

Energy transition is a buzzword in the boardrooms of major state-run oil companies, which are key contributors to India’s rapidly growing greenhouse gas emissions. But three of them — Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) — are yet to see their multi-trillion-rupee green investment ambitions translate into reality. 

Their chief financial officers are yet to open up their purses for projects covering renewables, including green hydrogen and biogas—at least not at a scale or pace that private sector giants Reliance Industries or Adani Green have done — according to senior officials