Risk related to the environment, society and governance have a growing impact on the operational and strategic choice made by energy companies. Growing concerns include stakeholder expectations, environmental challenges and regulatory pressure. The study examines overall risks related with ESG and their different components of selected companies in the Indian energy sector. It also analyzes the relationship between risk exposure and the effectiveness of the management strategies. The study covers a sample of 20 companies representing oil and gas, thermal power, and renewable energy segments. The study relies primarily on secondary data and data of risk ratings has been collected from Sustainalytics and company sustainability reports. Descriptive statistical tools were used to compare risk levels across companies, while Pearson’s correlation was applied to assess the relationship between risk exposure and management practices across firms. The Firms that are operating in renewable and low-emission segments have demonstrated relatively lower exposure than fossil fuel-based companies. Overall, the findings conclude that even though risk management is improving, the existing frameworks are insufficient to address rising sustainability-related risks. This study underscores the necessity for more integrated and proactive risk management approaches to enhance the long-term resilience of energy companies in India.