GlobalData offers a comprehensive analysis of CNOOC, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on CNOOC‘s ESG performance. GlobalData’s company profile on CNOOC offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
CNOOC, a major Chinese offshore oil and gas producer, is committed to reduce its greenhouse gas (GHG) emissions. CNOOC has identified climate-related risks and opportunities over the short, medium, and long term, and has incorporated them into its business strategy and financial planning.
In terms of carbon emissions, CNOOC provides data on its direct (Scope 1) and indirect energy (Scope 2) GHG emissions. In 2022, the company's direct total GHG emissions were 9.779 million tons of CO2 equivalent, while its indirect total GHG emissions were 1.101 million tons of CO2 equivalent. The total GHG emissions for the company in 2022 were 10.879 million tons of CO2 equivalent. The company also discloses its comprehensive energy consumption per ton of oil and gas production, which was 0.0571 tons of standard coal equivalent per ton in 2022.
CNOOC has taken steps to reduce its emissions and the company has implemented energy-saving measures, resulting in a reduction of 275,710 tons of standard coal equivalent in 2022. It has also invested in environmentally friendly technologies and promoted more environmentally responsible practices. Additionally, CNOOC has set targets to manage climate-related risks and opportunities and has been monitoring its performance against these targets.
In terms of waste management, CNOOC reports its non-hazardous waste and hazardous waste generation. In 2022, the company generated 73,411 tons of non-hazardous waste and 50,979 tons of hazardous waste. Its freshwater consumption, which was 1.986 million tons in 2022.
CNOOC has also been actively involved in community investment and social initiatives. The company has focused on community prosperity and safety, education development, support for indigenous communities, and green and low-carbon development. It has conducted knowledge quizzes and awareness campaigns to promote environmental protection and ecological conservation.
In conclusion, CNOOC is dedicated and is taking steps to reduce its GHG emissions. The company has implemented energy-saving measures, invested in environmentally friendly technologies, and promoted responsible practices. It is actively monitoring its performance against targets and has been involved in community investment and social initiatives.