Cairn Oil & Gas Cuts 229000 Tonne Carbon aims for Net Zero by 2030

26 Dec 2024 CW Team

Cairn Oil & Gas, a part of the Vedanta Group, announced in its FY’24 Sustainability Report that it had reduced carbon emissions by 229,000 tonnes over the past four years and is ramping up efforts to achieve Net Zero by 2030. Hitesh Vaid, the Chief Financial Officer of Cairn Oil & Gas, stated that the company remains committed to sustainable transformation in the energy sector as it celebrates 30 years of energizing India.

In FY’24, Cairn invested Rs 740 million in emission reduction initiatives and completed feasibility studies for Carbon Capture, Utilisation, and Storage (CCuS) at its Aishwariya Barmer Hills operations. Priya Agarwal Hebbar, Non-Executive Director of Vedanta, mentioned that the company's focus is on aligning economic ambitions with environmental and social responsibilities.

The company also reported a 60 per cent reduction in gas flaring volume and maintained a 96 per cent water recycling rate, exceeding global standards. Its community initiatives in FY’24 impacted 24.9 million lives, bringing the total social impact to 192 million over four years. Cairn’s E-kaksha program benefited 23.5 million students, surpassing its 2030 target of 9 million.

Vaid highlighted that Cairn’s initiatives reflect its efforts to transform the energy sector responsibly while uplifting communities and creating shared value. Additionally, Cairn signed agreements to plant one million trees as part of its goal to plant two million trees by 2030.

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