Indian Oil To Spend $25 Billion For 2046 Net-Zero Goal!
Indian Oil To
Spend $25 Billion
For 2046 Net-Zero Goal!
The largest refiner in the nation,
Indian Oil Corp
., announced intentions to invest $25 billion to become carbon free in its activities by 2046.
Underneath its zero net goal, the corporation will focus on Scope 1 and Scope 2 pollutants.
It hopes to mitigate 60% of the target and counterbalance the remaining 40%.
Scope 1 is the production-related emissions of greenhouse gases.
Scope 2 relates to emissions generated by energy usage. Scope 3 includes all additional indirect pollutants across the supply chain.
So, how will ioc achieve their goal?
By 2030, its mills' and chemical facilities' overall pollution will begin to decrease.
The company has begun experimenting with hydrogenating biomass to produce hydrogen.
It hopes to have a pilot unit with a daily capacity of one ton operational by the conclusion of the year.