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 Chinese offshore oil and gas producer, has a target of having CO2 emissions peak before 2030 and achieving carbon neutrality before 2060, in line with China's national goal. The company’s latest filings mentioned the keywords 'Carbon' and 'Emissions' most number of times in relation to 'Climate Change'. The company has disclosed its governance around climate-related issues and opportunities, including the Board's oversight of climate-related risks and opportunities and management's role in assessing and managing them. CNOOC has identified climate-related risks and opportunities over the short, medium, and long term and described their impact on the organization's businesses, strategy, and financial planning. The company has taken steps to identify, assess, and manage climate-related risks and integrate them into its overall risk management.
CNOOC has disclosed its carbon and greenhouse gas emissions, including direct (scope 1) and indirect energy (scope 2) emissions, and the related risks. The company's direct total GHG emissions were 9.779 million tons of CO2 equivalent in 2022, while indirect total GHG emissions were 1.101 million tons of CO2 equivalent. CNOOC has taken initiatives to promote more environmentally responsible practices and encourage the development and dissemination of environmentally friendly technologies. The company has also taken active measures to avoid environmentally sensitive periods, reduce pollutant emissions, strengthen prevention and control of oil spills, and set up ecological compensation funds.
In conclusion, CNOOC, has demonstrated its commitment to addressing climate change by setting ambitious targets to peak its CO2 emissions before 2030 and achieve carbon neutrality before 2060. The company has implemented various measures to manage climate-related risks, disclose its emissions, and promote environmentally responsible practices, showcasing its efforts to align with China's national goal and contribute to a more sustainable future.