India’s maiden carbon-neutral crude purchase opens door for more
India’s maiden purchase of carbon-neutral crude by Reliance Industries is a strong signal from the biggest private refiner of working toward its goal to become a net carbon zero company by 2035, a move that will also open up the doors for more such inflows, said Ravinder Kumar Malhotra, director general of the Federation of Indian Petroleum Industry.
While India’s appetite for oil won’t be slowing anytime soon and peak demand is nowhere near, refiners will be accelerating efforts in coming years in finding ways to ensure they play their part in supporting New Delhi’s goal to reduce the country’s carbon footprint, he added.