Corporate Accountability of Indian Energy Sector in Achieving Net Zero Targets: A Study on Greenhouse Gas Emissions

Climate change mitigation has become a critical global priority, with the energy sector being a major contributor to greenhouse gas (GHG) emissions. India, as the world’s third-largest emitter, faces the dual challenge of meeting rising energy demand while progressing toward its net-zero emissions target by 2070. This study examines the extent of corporate accountability within the Indian energy sector by analysing whether sustainability commitments made by firms are reflected in actual emissions performance. The research adopts a descriptive and comparative approach to analyse Scope 1, Scope 2, and Scope 3 greenhouse gas emissions of four leading Indian energy companies—Indian Oil Corporation, NTPC Ltd., Adani Power, and JSW Energy—over the period FY 2021–22 to FY 2023–24. Secondary data were sourced from annual reports, Business Responsibility and Sustainability Reports (BRSRs), ESG disclosures, and sustainability reports. Trend analysis and emissions intensity per rupee of turnover were used to assess inter-firm and intra-firm performance, alongside an evaluation of reporting transparency against global standards such as the GHG Protocol, GRI, and CDP. The findings indicate a decline in Scope 1 and Scope 2 emissions intensity in the initial years, followed by a slowdown in progress, suggesting that early efficiency gains may not be sufficient for long-term decarbonisation. Scope 3 emissions intensity shows a consistent downward trend, reflecting improvements in supply chain and operational practices. However, significant disparities across firms persist, highlighting uneven progress and potential accountability gaps. The study concludes that while India’s energy sector has made measurable progress toward net-zero objectives, stronger governance, improved disclosure quality, and deeper structural interventions are essential to align corporate actions with national climate goals.