CNPC: OGCI member companies jointly sign and release the OGCI Progress Report 2021

On December 14, Dai Houliang, Chairman of CNPC, and the chairmen/CEOs of other member companies of the Oil and Gas Industry Climate Initiative (OGCI) jointly signed and released the OGCI Progress Report 2021 (hereinafter “the Report”). With the theme of “Accelerating ambition & action”, the Report pointed out that climate change is one of the world’s most urgent and important challenges, pledging that the OGCI will act, innovate, invest in and implement solutions at scale, working in partnership with governments and businesses, and strive to accelerate their ambition and action in support of the net zero emission target.

Comprising seven parts, viz. OGCI strategy, OGCI Climate Investments (CI), methane emissions reduction, reducing carbon intensity reduction, kick-starting of industrial decarbonization, support to carbon reduction in transportation, and OGCI performance data 2020, the Report comprehensively summarizes OGCI’s efforts in accelerating the energy transition, expanding the scale of actions, and promoting the early achievement of the net zero emission target. The Report stated that in 2020, OGCI member companies achieved continuous reduction in greenhouse gas (GHG) emissions, methane emissions and flaring intensity; the number of CI investment portfolios will be increased to 23 in 2021; OGCI has expanded and updated the CO2 Storage Resource Catalogue, assessing 715 CO2 storage resource sites from 18 countries/regions against the SPE Storage Resources Management System (SRMS).

OGCI is one of the important organizations coping with climate change in the international oil and gas industry, and currently has 12 member companies. As the only member company of OGCI in China, CNPC has been advocating and practicing a sustainable and green development model characterized by low energy consumption, low pollution and low emissions since it joined OGCI in 2015. At the same time, it has been deeply involved in international cooperation on climate change together with other member companies, contribute to the fight against climate change and the realization of low-carbon transformation of the oil and gas industry.