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Abstract: Green finance(GF) is a financial arrangement for the projects that are environmentally sustainable addressing the climatic changes. GF involves financial products like loans and investments for initiatives such as renewable energy production (solar, biogas, wind), waste management, clean transportation, and energy-efficient projects like green buildings. There is a high risk associated with some environmentally sustainable projects due to their relatively untested nature and lack of a track record. GF can help to mitigate this risk by providing long term and patient capital to support the development and deployment of these projects (Bhatnagar et al., 2022). In addition, GF can help to encourage the development and deployment of products and trending technologies which promote environmental sustainability (Sadiq et al., 2022). increased awareness about GF and coordination amongst stakeholders could pave way towards a greener and sustainable long term economic growth (M.Bhtnagar, et al.,2021). There is no much literature on green finance focusing on a particular sector/Industry. Hence present study throw light on green finance initiatives undertaken in Oil and gas sector with a special reference to BPCL(Bharat Petroleum corporation Limited). The objectives of the study are i) To introduce the evolution of green finance and explain its role in environmental protection and climate control ii) To present the profile and sectoral performance of Oil and Gas sector in macro perspective and BPCL green initiatives in Micro perspective iii) To draw conclusions emerged from the present study and offer a few valid suggestions. The study is descriptive and analytical in nature. In Oil and gas sector, six major public sector companies were selected and two financial year's data was collected for performance analysis. Techniques of the analysis include Averages, percentages, Ratios and Diagrammatic presentation of data is adopted. The present study concludes that India is focusing heavily on Natural Gas. The transition towards greener energy sources to tackle with climate change requires heavy investment in infrastructure, technology, grid modernization and access to critical minerals. The intermittency of renewable sources like solar and wind further complicates this transition, necessitating advanced energy storage solutions and smarter grids, which are still developing. Aligning with sector, BPCL company also transitioning towards sustainability, aiming to become a Net Zero Energy Company by 2040. BPCL is driving social impact through its green initiatives with a vision to become the most admired global energy company.