New Delhi: State-owned Oil and Pure Fuel Company (ONGC) goals to offset 9 million tonnes of carbon dioxide emissions by 2038. The estimated whole funding is Rs 2 trillion. This contains integrating renewable power sources, beginning with onshore wind and photo voltaic installations throughout India.

This transformation is ready to start from fiscal 12 months 2026 to cut back emissions from captive energy technology and scale back dependence on grid energy purchases. Within the north-eastern area, ONGC plans to capitalise on the area’s substantial potential for small hydropower initiatives. They goal to asset electrify the area from fiscal 12 months 2030, with an anticipated implementation timeline of 5-8 years.

ONGC’s initiative aligns with a worldwide motion in direction of attaining web zero emissions, mirroring a broader pattern seen internationally. Based on the report titled “ONGC Decarbonisation Roadmap: Technique to Obtain Web-Zero Operational Emissions (Scope 1 and Scope 2) by 2038” ready by ONGC, over 140 nations, which account for 88 per cent of worldwide emissions, have dedicated to net-zero targets.

Moreover, over 9,000 firms, 1,000 cities, 1,000 educational establishments and 600 monetary establishments have joined the Race to Zero, pledging important and pressing motion to halve international emissions by 2030. This collective effort underlines the pressing want for decarbonisation, as highlighted on the COP26 summit in Glasgow.