Top 5 PSU oil cos to partner ISA climate plan
NEW DELHI: For years oil and gas companies have preferred to bake the earth for profit. But mounting climate concerns and emerging technology promising to end their free run has prompted global energy majors searching for a green future and net-zero status.
Top five Indian state-run public sector oil and gas companies are poised to follow this trend by joining the International Solar Alliance’s (ISA) coalition for sustainable climate action (ISA-CSCA) in quest of corporate social nirvana.
ONGC, IndianOil, Bharat Petroleum, Hindustan Petroleum and GAIL will be contributing to ISA’s corpus fund, oil minister Dharmendra Pradhan said in his inaugural speech at ISA’s first world solar technology summit on Tuesday.
“In order to reduce carbon footprint, these companies will be focusing more on green energy investments such as renewables, biofuels and hydrogen going forward. We are also actively encouraging industry in general, and oil and gas companies, in particular, become participants to this solar transition,” Pradhan said.
