Indian Oil Corporation Limited (IOCL) is a leading Indian state-owned oil and gas company that operates in the refining and marketing sector. The company was founded in 1959 and has since grown to become one of the largest oil refining and marketing companies in India, with a presence in over 24 countries. IOCL is committed to decarbonisation and has made significant investments in renewable energy.

IOCL's refining and marketing operations include the production of petroleum products such as petrol, diesel, LPG, aviation turbine fuel, and lubricants. The company operates 11 refineries in India, with a total refining capacity of 80.7 million metric tonnes per annum. IOCL also has a strong marketing network, with over 47,000 retail outlets across India.

In recent years, IOCL has been actively working towards decarbonisation and reducing its carbon footprint. The company has set a target to reduce its carbon emissions intensity by 25% by 2030, compared to its 2014-15 baseline. To achieve this target, IOCL has implemented several initiatives, including the use of cleaner fuels, energy efficiency measures, and investments in renewable energy.

IOCL has also been actively pursuing corporate power purchase agreements (PPAs) for renewable energy. In 2018, the company signed a PPA for a 50 MW solar power project in Gujarat, which is expected to generate over 100 million units of electricity per year. IOCL has also signed a PPA for a 20 MW wind power project in Rajasthan, which is expected to generate over 50 million units of electricity per year.

In addition to PPAs, IOCL has also invested in its own renewable energy projects. The company has set up a 5 MW solar power plant at its Gujarat refinery and a 2.5 MW solar power plant at its Mathura refinery. IOCL is also planning to set up a 1 GW solar power plant in Rajasthan, which will be one of the largest solar power projects in India.

IOCL's commitment to renewable energy is also reflected in its corporate energy policy. The company has set a target to source 10% of its total energy requirements from renewable sources by 2022. IOCL has also implemented several energy efficiency measures, such as the use of LED lighting, energy-efficient motors, and waste heat recovery systems.

IOCL's efforts towards decarbonisation and renewable energy have been recognized by various organizations. In 2020, IOCL was ranked as the 2nd most sustainable company in the oil and gas sector by the Dow Jones Sustainability Index. The company was also awarded the Green Business Award for its efforts towards sustainability.

In conclusion, IOCL is a leading Indian oil and gas company that is committed to decarbonisation and renewable energy. The company has set ambitious targets to reduce its carbon emissions and increase its use of renewable energy. IOCL's efforts towards sustainability have been recognized by various organizations, and the company is well-positioned to continue its leadership in the energy sector.