ONGC's Green Triumph: Minister Hardeep Singh Puri hails 17% drop in emissions at UN GCNI convention
“The industry leaders are driving the 2030 SDG agenda through impactful CSR initiatives. Energy Maharatna ONGC is exemplifying comprehensive operational reform, achieving a remarkable 17% reduction in SCOPE-1 and SCOPE-2 emissions over the last 5 years”, said Hon'ble Minister of Petroleum and Natural Gas, and Ministry of Housing and Urban Affairs, Hardeep Singh Puri, during his inaugural address at the 18th National Convention of United Nations Global Compact Network India (UN GCNI) held on 23 February 2024 in New Delhi.
The convention, themed 'Advancing Sustainable India: Driving Change with Forward Faster 2030', is organized by the Indian local network of the Global Compact based in New York, to initiate constructive changes towards sustainability.
Mr Puri added, “The achievement is coupled with 82% of C-SUITE expressing intent to hire green skills, which signifies a positive shift. The move towards a Viksit Bharat is committed to global agreements like the Lima Climate Change Conference 2050, the Paris Agreement, and the Pancharmit Scheme, which will guide the journey aligned towards UN SDGs. Collaboration, Cooperation, and Collective action are paramount for success. With initiatives like Forward Faster 2030, the UNDP serves as a valuable ally. Let's harness innovation, collaboration, and leadership to create a better world for ourselves and future generations”.
The Chief Guest stated, “The India story in advancing UN Sustainable Development Goals is better than the global average. This is because efforts in India are bottom-up, they are driven by people who need the social changes”.
ONGC Chairman & CEO and UN GCNI President Arun Kumar Singh said, “In a moment of reflection, ONGC, in collaboration with key public and private sector partners, proudly acknowledges its instrumental role in establishing the United Nations Global Compact's (UNGC) presence in India. This significant achievement, guided by the visionary leadership of the late Mr Subir Raha, underscores his lasting legacy and commitment to corporate sustainability and global citizenship. Mr Raha's foresight not only initiated the establishment of UNGC in India but also set a precedent for collaborative action and responsible corporate practices”.
Mr Singh emphasized, “With a steadfast dedication to Environmental, Social, and Governance (ESG) principles, UN GCNI, championed by noted public and private sector organizations, became a leader in advocating and practicing responsible corporate behavior even before ESG principles gained widespread recognition. Today, as ESG principles take center stage in corporate discourse, ONGC and its partners remain committed to these principles, essence, and values”.
The Chairman stated, “ONGC's commitment to sustainability is further demonstrated through initiatives aimed at greening the oil & gas sector, promoting energy efficiency, renewables, and investing in carbon capture and storage. The company has set ambitious targets, including achieving Net Zero (Scope-1 & Scope-2 compliant) by 2038, signing the Oil & Gas Decarbonisation Charter during COP28 in Dubai, committing to near-zero upstream methane emission by 2030, and eliminating routine flaring on all operations by 2030”.
The UN GCNI President asserted, “As ONGC engages in dialogue at events like India Energy Week and COP28, the company emphasizes its dedication to contributing to a low-carbon future in alignment with India's Net Zero target for 2070 and its commitments under the Paris Climate Agreement. ONGC encourages active participation, insights sharing, and tangible actions from all stakeholders, pledging full support to government sustainability initiatives and global goals alongside the UN GCNI. Together, ONGC envisions meaningful progress and impactful change towards a sustainable future”.
During her special address, UNDP India, Resident Representative Isabelle Tschan highlighted the crucial role of partnerships in achieving sustainable development. She highlighted the need for collaborative efforts involving governments, businesses, civil society, and international organizations to address complex challenges. Ms Tschan stressed that partnerships leverage diverse expertise and resources, fostering innovation and efficiency for more impactful outcomes. The address underscored the importance of collective action and integrated approaches for lasting positive change.
ONGC, as a key founding member of UN GCNI and India's largest oil & gas PSU, reaffirmed its ongoing dedication by actively engaging in and endorsing the convention. The event served as a forum for significant dialogues, knowledge exchange, and networking, facilitating partnerships crucial for steering sustainable transformations in India. Central themes covered during the convention encompassed climate action, responsible water resilience, sustainable finance and investment, economic empowerment, and innovative approaches to sustainable development.
