Active Stocks
Fri Jun 21 2024 15:59:28
  1. Tata Steel share price
  2. 179.85 -1.37%
  1. ITC share price
  2. 419.60 -0.89%
  1. State Bank Of India share price
  2. 836.40 -0.88%
  1. Wipro share price
  2. 490.55 0.01%
  1. ICICI Bank share price
  2. 1,156.85 0.00%
Business News/ Companies / News/  Cairn Oil & Gas targets net-zero carbon emissions by 2050
BackBack

Cairn Oil & Gas targets net-zero carbon emissions by 2050

Cairn Oil said its $4 billion investment to double production over the next three-four years is in line with the newly announced ESG roadmap

Cairn said its oil and gas business is today well-poised to meet India’s energy needs and growth aspirations. Photo: BloombergPremium
Cairn said its oil and gas business is today well-poised to meet India’s energy needs and growth aspirations. Photo: Bloomberg

New Delhi: Cairn Oil & Gas, a unit of Vedanta Ltd, said on Monday it is on course to achieve net-zero carbon emissions by 2050, and added that its $4 billion investment to double production over the next three-four years is in line with the newly announced environmental, social, and corporate governance (ESG) roadmap.

Vedanta founder & chairman, Anil Agarwal said, “Vedanta Group has been at the forefront of sustainable practices that align with the Prime Minister’s goals of achieving net-zero in tandem with positive economic growth. Our oil and gas business is today well-poised to meet India’s energy needs and growth aspirations. Guided by the philosophy of `Zero Harm, Zero Waste, Zero Discharge’, we have formulated robust ESG targets for our operations which will help India’s energy sector become more efficient and enable the country’s journey towards aatmanirbharta."

The ESG objectives will broadly focus on uplifting lives of people in operational areas through sustainable livelihood opportunities to 1 million people, educating ~9 million students by 2030 through digital education programs alongside uplifting 20 million women and children through education, nutrition, healthcare, and welfare.

Cairn Oil & Gas, Deputy CEO, Prachur Sah said, “ESG has always been a top priority for Cairn Oil & Gas. As we continue our sustainability journey, we are committed to our vision of ensuring holistic socio-economic development while achieving our goal of ensuring energy aatmanirbharta for India. This announcement is a reiteration of our commitment to delivering growth responsibly and sustainably. In line with PM’s vision of net-zero carbon emission by 2070, Cairn stands tall with our country’s energy aspirations."

The company is innovating for a healthier planet by sustaining net water positive impact, use of renewable energy, planting 2 million trees by 2030, and protecting and enhancing biodiversity throughout the project lifecycle.

 

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

ABOUT THE AUTHOR
Subhash Narayan
Subhash is the infrastructure editor at Mint and tracks the momentous developments taking place in the space that is fast changing the Indian landscape. He feels that reporting has been a passion that provides the necessary adrenaline rush and keeps you going.
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 21 Feb 2022, 01:54 PM IST
Next Story footLogo
Recommended For You