ONGC Receives Low ESG Rating of 44 from ESGRisk.ai
Oil and Natural Gas Corporation Ltd (ONGC) has received an ESG Rating Report from ESG Risk Assessments & Insights Limited (ESGRisk.ai), assigning an overall score of 44. ONGC stated that it neither engaged the agency nor finalized the report in consultation with them. The company believes the score is low and not commensurate with its decarbonization efforts, governance structure, and disclosures in its Business Responsibility and Sustainability Report (BRSR). The report highlights strengths in community engagement but weaknesses in environmental management, human rights, and governance practices, particularly concerning female representation and environmental compliance incidents. ONGC aims for Net Zero Scope 1 and 2 emissions by 2038.
Key Highlights
- ONGC received an ESG score of 44 from ESGRisk.ai.
- Company disputes the score, citing its decarbonization efforts.
- Weaknesses noted in environmental management and governance.
- Low female representation at Board and senior management levels.
- ONGC targets Net Zero Scope 1 and 2 emissions by 2038.
Price Impact
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