Reliance is aiming to reach the net zero carbon emission goal for the oil-to-chemicals business by 2035, decades ahead of PM Narendra Modi’s date for India, which is 2070.

RIL is also trying to reach the net zero goal faster than most global giants.

Speaking to the shareholders at the virtual AGM, Mukesh Ambani said RIL has started the journey to transition its O2C business into a sustainable, green chemicals and materials business.

“We are accelerating our journey to achieve net carbon zero by 2035 through use of renewables and bioenergy for a sustainable and green business.

“We are well on our way to build the new energy ecosystem of manufacturing solar, wind, batteries, hydrogen, and bio-energy platforms.

“This will enable us to speed up the development of our renewable generation assets to deliver round-the-clock electricity for our captive requirements as well as to meet the growing needs of Indian consumers,’’ Ambani said.

The RIL chairman said the transition will reduce energy costs and ensure profitability for the O2C business. He said the cost of renewables is significantly lower compared with fossil fuels.

On new energy, RIL remains focused on the fast-track execution of Dhirubhai Ambani Green Energy Giga Manufacturing Complex at Jamnagar.

The focus will be on delivering a fully-integrated, end-to-end solar PV manufacturing ecosystem, Ambani said.

RIL’s solar giga factory, Ambani disclosed, will include the manufacturing of PV (photo voltaic) modules, cells, wafers and ingots, and polysilicon at a single location.