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IndianOil Energising the CSR for Sustainable Development

As a diversified, integrated energy major, Indian Oil has a presence in almost all the streams of Oil, gas, petrochemicals and alternative energy sources. As a responsible corporate, IndianOil has always risen to the occasion. It understands the importance of giving that helping hand to bring balance to society and the environment.

Indian Oil is India’s highest-rank Energy PSU in the Fortune500 list (Rank 142); Indian Oil recorded Revenue of Rs.7,28,460 crores and a net profit of Rs.24,184 crores for the financial year 2021-22.

IndianOil, the ‘Energy of India’, has stepped up its efforts towards a cleaner, prosperous tomorrow. In August 2022, IndianOil announced its intent to become Net Zero by 2046, when India enters the 100th year of its independence. Given India’s goal to achieve the Net Zero Emission Target by 2070, this momentous step reiterated the Company’s resolve to grow sustainably, delivering on its promise to care for the people and the planet.

IndianOil’s CSR objectives are enshrined in its Vision / Mission statement: “…to help enrich the quality of life of the community and preserve ecological balance and heritage through a strong environment conscience…”.IndianOil’s CSR thrust areas include ‘Safe drinking water and protection of water resources’, ‘Healthcare and sanitation’, ‘Education and employment – enhancing vocational skills’, ‘Rural development’, ‘Environment sustainability’, ‘Empowerment of women and socially/economically backward groups’, etc.

Undertaken mainly for improving the quality of life in various communities, including marginalized & underprivileged sections of the society, viz., scheduled caste, scheduled tribe, other backward castes, physically handicapped, etc., the Corporation has partnered with many life-changing community development projects and has positively impacted stakeholders across the length and breadth of the country.

In the last 25 years, India has spent more than Rs.3000 crore towards its community development initiatives. In the previous four years, India has invested a huge chunk of its CSR Budget in healthcare (Rs.724 cr.), education & skill development ( Rs.617 cr. ) & environmental sustainability (Rs.292.0 cr.) and has touched more than 75 lakh beneficiaries every year.

The Corporation has been partnering with communities in which it operates by supporting numerous CSR initiatives connected with marginalized groups. Besides undertaking various CSR activities across India, Indian Oil has been running several CSR flagship projects.

Some of these have been running for many decades, which includes AOD Hospital at Digboi (since 1906), Swarn Jayanti Samudayik Hospital at Mathura (Since 1999), Assam Oil School of Nursing (Since 1986 for running B.Sc. & GNM courses for girl students of the northeast), IndianOil Vidushi (Since 2018 for providing coaching to girl students for JEE entrance exam), institutes like Skill Development Institute, Bhubaneswar (wherein IndianOil is a lead investor) & Institute of Chemical Technology-IOC Bhubaneswar for skill development and higher education, IndianOil Gyanodaya (scholarship to the students of ITI & Polytechnics), IndianOil Arogyam (Running MMU at nearby villages of Mathura, Paradip & Bongaigaon Refy), Schools at Refy locations, etc.

“Pehle Indian, Phir Oil” truly epitomizes India’s Corporate Social Responsibility (CSR) philosophy, and the same was aptly displayed during the difficult years of the pandemic. Being a responsible corporate of India, IndianOil not only helped the nation by ensuring a continuous supply of essential petroleum products and services across the nation during the pandemic but also enhanced the CSR allocation beyond the prescribed CSR budget (i.e. 2% of the average net profit of the immediately preceding three financial years) as required under the provisions of the Companies Act, 2013. Moreover, IndianOil has exemplified its CSR commitment legacy by utilizing 100% CSR budget allocation for the fifth year.

In the fight againstCOVID-19 IndianOil has spent about Rs.360.0 crore in the battle against COVID, which includes the contribution of Rs.265.0 crore towards PM CARES Fund, India Karmayogi Bima Yojana for customer attendants across India, Setting up 12 Oxygen plants across India, Procurement of 2000 Oxygen concentrators & 4000 oxygen cylinders, Setting up special hospitals in the various parts of the country including Bargarh and Mathura, Provision of 522 nos cold chain equipment to the four states viz. Bihar, Tamil Nadu, J&K, and Manipur, Providing 152.8 MT medical grade liquid oxygen (amounting to more than 45 lakh 20L oxygen cylinders) to various hospitals in Delhi, Haryana, Punjab, etc.

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