Cairn Oil & Gas Targets Net-Zero Carbon by 2050
Taking a significant step towards ESG (environmental, social, and corporate governance) in the oil & gas sector, Cairn Oil & Gas of Vedanta has committed to achieving net-zero carbon by 2050.
February 21, 2022. By Manu Tayal
The company has been committed to investing 4 billion over 3-4 years to double its production, and the newly announced ESG roadmap will enable it to achieve this vision sustainably.
Commenting on the development, Founder & Chairman of Vedanta, Anil Agarwal said that “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.”
“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,” said Prachur Sah, Deputy CEO of Cairn Oil & Gas.
The company’s ESG objectives would broadly focus on uplifting the lives of people in operational areas through sustainable livelihood opportunities to 1 million people, educating ~9 million students by 2030 via digital education programs alongside uplifting 20 million women and children through education, nutrition, healthcare, and welfare.
The company has been 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.
Also, it has been efficiently using associated natural gas for meeting its power and heating requirements.
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