State-run oil and gas major says external assessment does not adequately capture its decarbonisation initiatives, governance practices and BRSR disclosures
New Delhi : Oil and Natural Gas Corporation Limited (ONGC) has raised concerns over an external ESG assessment that assigned the company an overall score of 44, saying the rating does not adequately reflect its sustainability initiatives and disclosures.
The ESG rating report was issued by ESG Risk Assessments & Insights Limited (ESGRisk.ai). In a disclosure to the stock exchanges, ONGC clarified that it did not engage the agency to prepare the report and that the assessment was not finalised in consultation with the company.
ONGC calls the score low
In its stock exchange disclosure dated September 10, 2026, ONGC described the score of 44 as low and said it was not commensurate with the company’s efforts in areas including decarbonisation and governance, as well as the information disclosed through its Business Responsibility and Sustainability Report (BRSR).
The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Company distances itself from the assessment
ONGC has made it clear that it does not endorse the ESG rating.
The company said it neither commissioned ESGRisk.ai to prepare the report nor participated in its finalisation. ONGC has therefore placed its position on record regarding the assessment and the score assigned to it.
Key details of the disclosure
- Company: Oil and Natural Gas Corporation Limited (ONGC)
- ESG assessment agency: ESG Risk Assessments & Insights Limited (ESGRisk.ai)
- Overall ESG score: 44
- ONGC’s view: The score is low and does not adequately reflect the company’s efforts and disclosures
- Report commissioned by ONGC: No
- ONGC involved in finalisation: No
- Key areas highlighted by ONGC: Decarbonisation initiatives, governance and BRSR disclosures
- Disclosure date: September 10, 2026
- Regulatory provision: Regulation 30 of SEBI LODR Regulations, 2015
ONGC’s disclosure places the company’s disagreement with the external assessment on record and highlights its position that the 44 ESG score does not fully capture its sustainability-related initiatives, governance framework and reported ESG performance.
