ANNOUNCEMENTS
India is the third largest consumer of oil in the world and with growing energy demand, the role of the oil and gas sector is slated to play an important role in the country’s economic and development goals. India is also a signatory of the Paris Agreement 2015 and other international platforms addressing the global climate crisis. In accordance with these goals, the country has made certain commitments with regards to its energy use and overall contributions to greenhouse gas emissions. Both despite and in keeping with these commitments, the oil and gas sector is projected to grow in the coming decades and the government is actively making it more conducive to investments from varied sources.
In light of the outlook for the oil and gas sector in India, it is important to understand how Indian oil and gas companies are responding to and navigating the low-carbon energy transition. The study uses the ESG disclosures and other relevant reporting by oil and gas companies in India to analyse their activities and initiatives to propel their operations towards a low-carbon energy future. The companies are categorised according to their market capitalisation and nature of operations (upstream, downstream, or integrated). Their initiatives and future strategies are analysed according to three main strategy frameworks- short term (emission mitigation), mid-term (technology and/or transition fuel investments) and long term (investments in renewable energy and integration of value chain). Content analysis and tools of comparative analysis are used to determine the performance of the companies according to pre-determined indicators and in relation to global counterparts. Finally, the study analyses the impact of national regulatory and policy environment on the choice of strategic path chosen by the companies and their commitment to the low-carbon energy transition goals
Keywords: Low carbon energy transition; Oil and Gas sector in India; ESG Disclosures.
