Cairn Oil & Gas, a part of Vedanta Group and one of India’s leading private oil and gas exploration and production company, has unveiled the third edition of its Sustainability Report for FY’24.
The report highlights the company’s continuous commitment to sustainable practices, underscoring its significant progress in environmental, social, and governance (ESG) priorities.
Commitment to Net Zero by 2030
Cairn Oil & Gas remains the first Indian oil and gas company to pledge Net Zero emissions by 2030.
The ambitious commitment is reflected in its remarkable achievements in reducing carbon emissions.
In FY’24, the company successfully reduced 119,000 tonnes of CO2 equivalent (tCO2e), bringing its total carbon emission reduction over the last four years to 229,000 tCO2e.
The reduction is equivalent to saving more than twelve million trees.
Partnership with UNEP for Methane Emission Management
Furthering its environmental efforts, Cairn signed a Memorandum of Understanding (MoU) with the United Nations Environment Programme’s (UNEP) Oil and Gas Methane Partnership (OGMP) 2.0.
By doing so, Cairn became the first oil and gas producer in India to commit to effective methane emission management, marking a significant step in its ESG journey.
Environmental Achievements and Methane Reduction
Cairn’s Sustainability Report for FY’24 highlights substantial progress in environmental conservation.
Over the past four years, the company has reduced its potential gas flare volume by 60%, contributing significantly to curtailing methane emissions and promoting cleaner operations.
The achievements align with Cairn’s broader sustainability goals, showcasing its commitment to environmental stewardship.
Transforming Lives through Community Programs
Cairn has also made a profound social impact, with its transformational community programs benefiting 24.9 million people in FY’24.
Over the past four years, the company has touched the lives of approximately 192 million individuals.
One of its standout initiatives, E-kaksha, has provided quality digital education to around 23.5 million students, far surpassing its target of reaching 9 million students by 2030.
Leadership Statements on Sustainability
Priya Agarwal Hebbar, Non-Executive Director at Vedanta and Chairperson of Hindustan Zinc Limited, emphasized the importance of balancing economic ambitions with societal and environmental responsibilities.
She expressed happiness in Cairn’s progress toward achieving Net Zero by 2030 and highlighted the company’s continued focus on environmental conservation, community engagement, and transparency.
Hitesh Vaid, Chief Financial Officer of Cairn Oil & Gas, further reiterated the company’s dedication to driving sustainable transformation in India’s energy sector.
He said, “As we celebrate thirty years of energizing India, we are committed to contributing 50% of India’s domestic crude production while maintaining a focus on environmental stewardship and social equity”.
A Legacy of Sustainable Transformation
The release of Cairn’s Sustainability Report reflects its ongoing efforts to integrate sustainability into its operations.
As per the press release, by focusing on economic growth, environmental care, and social responsibility, Cairn Oil & Gas is positioning itself as a leader in transforming India’s energy landscape while creating lasting value for future generations.
