Oil PSUs on the long road to net zero: Can India achieve the goal by 2070?

With India burning more fossil fuel to grow, state-owned refiners are likely to struggle to meet their targets

Today, Prime Minister Narendra Modi will inaugurate India Energy Week 2023, the country’s biggest energy event, in Bengaluru — by launching uniforms made of recycled plastic, dedicating refiner IOC’s solar cooker to the nation, launching a petrol pump laden with 20 per cent blended ethanol, and flagging off an e-vehicle (EV) race.

Optics apart, in a state going to the polls this year, such symbolic gestures to reduce emissions will need a lot more reinforcement — especially for a country that recorded the highest growth rate in carbon emissions last year. The Global Carbon Budget said India’s emissions grew 6