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Indian Oil Corp Plans to Invest $30 billion in its Green Initiatives

Indian Oil Corporation (IOCL) will invest USD 30 billion in its green initiatives to implement a series of comprehensive environmental sustainability measures across the corporation's vast operations.

 

The investment will be strategically allocated and substantial portion of these funds will be channelized into cutting-edge research and development (R&D) efforts towards breakthrough technologies. These innovations would substantially help in curtailing carbon emissions, while spearheading sustainable energy solutions on a global scale.

 

As a critical aspect, this investment initiative will bolster Indian Oil's renewable energy portfolio, with a particular focus on the rapidly growing solar and wind energy sectors. By harnessing the renewable resources, Indian Oil seeks to cater to India's growing energy demands, with lowered ecological footprint.

 

Moreover, this aligns with India's ambitious green energy objectives along with the aspiration to achieve zero operational emissions by 2046. This goal encompasses a strategy to address both Scope-I and Scope-II emissions.

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