IOC to spend Rs 2 lakh crore for net-zero target by 2046

India’s top oil refiner, Indian Oil Corp (IOC) has planned to invest more than Rs 2 lakh crore (or $25 billion) to achieve net-zero emissions from its operations by 2046.

The target set is in line with India’s aim to reach net-zero emissions by 2070. IOC oil refining and petrochemicals business has a total emission of 21.5 million tonnes of carbon dioxide (CO2). IOC has already prepared a road map to achieve its net zero scope 1 and 2 emissions

IOC chairman: S.M. Vaidya