New Delhi: Oil and Natural Gas Corporation (ONGC) has successfully conducted its first-ever Double Materiality Assessment, becoming the first Public Sector Undertaking (PSU) in India to adopt this globally recognized approach.
A Landmark Step in Sustainability Reporting
The initiative is highlighted in ONGC’s Integrated Annual Report for FY 2024–25 (Page 34). By adopting the double materiality lens aligned with the European Sustainability Reporting Standards (ESRS), ONGC moves beyond traditional financial disclosures.
The assessment evaluates not only how environmental and social factors impact the company but also how ONGC’s business activities affect society and the environment.
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Commitment to Transparency and Value Creation
This dual perspective strengthens transparency and accountability while reinforcing ONGC’s commitment to long-term value creation for stakeholders. The corporation emphasized that this milestone underscores its dedication to sustainable business practices in India’s energy sector.
Setting Benchmarks for Indian Industry
As the first PSU to integrate this framework, ONGC is setting new benchmarks in responsible reporting and sustainable growth. The company noted that the initiative reflects its broader goal of balancing energy production with environmental stewardship.
About ONGC
Oil and Natural Gas Corporation (ONGC), headquartered in New Delhi, is India’s largest crude oil and natural gas company under the Ministry of Petroleum and Natural Gas. Established in 1956, ONGC plays a pivotal role in India’s energy security and continues to lead sustainability efforts across the energy sector.
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