(PTI)
State-owned Oil and Natural Gas Corp (ONGC) plans to adopt stringent reporting standard on environment, social and corporate governance (ESG) to help improve its credit rating, top company officials said. ONGC, India’s top oil and gas producer, will be the first public sector company to adopt reporting standards that are at par with international benchmarks, which will bring greater transparency.
Officials said the new ESG reporting would help raise the company’s credit rating, which will increase its capacity to raise funds – both debt and equity – from markets worldwide. Under the new reporting format, the three parameters of environment, social and corporate governance are extensively studied.
