Oil India Improves 2024 CDP Ratings marking Strong Environmental Commitment

Oil India Limited (OIL), a Maharatna CPSE and a leading energy company in India, has announced a significant improvement in its 2024 CDP (formerly Carbon Disclosure Project) ratings, reflecting its dedication to sustainability. In its first year of response, OIL elevated its Climate Change rating from F to C and secured a B- in Water Security, marking a milestone in its environmental efforts.

The upgraded Climate Change rating highlights OIL's enhanced transparency and proactive measures in reducing carbon emissions, adopting cleaner energy solutions, and aligning with global environmental standards. The Brating in Water Security underscores the company's initiatives in sustainable water usage, conservation, and wastewater management, showcasing its commitment to responsible water stewardship.

On the occasion, Dr Ranjit Rath, Chairman and Managing Director, OIL, stated that we are proud to see OIL's sustainability initiatives yielding positive outcomes. The improved CDP ratings are a testament to our focused approach to addressing climate change and water security challenges. As a responsible energy company, we remain committed to reducing our environmental footprint and driving sustainable growth.

OIL also unveiled its ESG Strategy under project 'Santulan', at India Energy Week 2025 in New Delhi, outlining a comprehensive roadmap for GHG reduction aligned with its 2040 Net Zero target, water neutrality, plastic waste management, and biodiversity conservation.

Aligned with India's climate goals and the global energy transition, OIL continues to adopt innovative technologies, improve resource efficiency, and enhance environmental disclosures. The company remains steadfast in its mission to further strengthen its sustainability performance in the years ahead.

Shares of Oil India Limited was last trading in BSE at Rs. 365.80 as compared to the previous close of Rs. 372.20. The total number of shares traded during the day was 61326 in over 2330 trades.

The stock hit an intraday high of Rs. 376.00 and intraday low of 362.20. The net turnover during the day was Rs. 22524054.00.

Source : Equity Bulls

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OilIndia INE274J01014 Improvement 2024CDPRatings