The state-run Oil and Natural Gas Corporation (ONGC) has announced a significant investment of Rs 2 lakh crore towards establishing renewable energy sites and green hydrogen plants in an effort to achieve net zero carbon emissions by 2038. Additionally, the firm plans to invest Rs 97,000 crore by 2030 to develop 5 gigawatts of renewable energy capacity, green hydrogen, biogas, pump storage plant, and an offshore wind project. ONGC's 200-page document outlines its roadmap for achieving net zero emissions while also aiming to boost hydrocarbon output to meet India's energy demands. The company's stock saw an 80 percent increase over the past year, outperforming the Nifty 50 index. ONGC aims to invest further in green hydrogen or green ammonia plants, offshore wind projects, and technologies to reduce gas flaring and methane emissions. By implementing these projects, ONGC plans to offset a significant amount of carbon emissions it is responsible for, demonstrating its commitment to environmental sustainability and clean energy initiatives.