indian oil and panasonic energy signs a binding energy term

1. lithium ion cells

2. for expanding demand for batteries for 2 and 3 wheelers
3. and for energy storage system

Impact

1. supply chain ecosystem- self reliance

2. raw material sourcing - entering of new market

IndianOil is aiming to achieve its net-zero operational emissions target by 2046,

aligning with the India’s goal to achieve carbon neutrality for the country by 2070.

Aim

1. reduction of CO2 emission- sustainable growth

2. both the companies will be promoting lithium ion battery industry

NET- ZERO BY 2046

1. an investment of over Rs. 2 lakh crore

2. other emission mitigations - green hydrogen, biofuels, renewables, carbon
offsetting through ecosystem restoration and Carbon Capture Utilisation and
Storage (CCUS)

Aim

1. current state- IndianOil’s current GHG emission stands around 21.5 million
metric tonnes of carbon dioxide equivalent (MMTCO2e).
2. future- the emissions are expected to be over 40 MMTCO2e by the end of this
decade.

The 7 focus areas

1. Achieve net zero operational emissions

2. Meeting electricity requirements of expansion projects through renewable
energy
3. Increase the proportion of greener fuels in the product mix
4. Invest in low carbon energy technology and undertake partnerships
5. Engagement with value chain partners to reduce emissions across the current
network
6. Bring greater linkages between employee skills & company climate goals
7. Establish IndianOil as a leader in environment sustainability