ONGC set to pump Rs.2Lakh crore for ‘net zero’

Oil and Natural Gas Corporation (ONGC) plans to invest Rs 2 lakh crore to achieve net-zero transition targets by 2038, said Chairman Arun Kumar Singh.

During a press conference at the company’s annual general meeting (AGM), Singh informed reporters that Rs 1 lakh crore would be required by 2030 to accomplish multiple green initiatives, with another 1 lakh crore to be allocated by 2038.

The ONGC has established goals to reach net-zero emissions for Scope-1 and Scope-2 by 2038.

“Your Company is devising a roadmap for opportunities in renewable energy and low-carbon sectors. It aims to expand its renewable portfolio to 10 GW by 2030. We are dedicated to investing around Rs. 1 lakh crore by 2030 to realize our various green initiatives and achieve Scope-I & Scope-II emission targets by 2038,” stated Singh at the AGM.