GlobalData offers a comprehensive analysis of PetroChina, 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 PetroChina’s ESG performance. GlobalData’s company profile on PetroChina 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.
PetroChina, a major Chinese oil and gas company, is committed and taking steps to reduce its carbon emissions and greenhouse gas (GHG) emissions, aims to attain "near-zero" emissions by approximately 2050. The company has established rules and regulations covering various aspects of its operations, including employment, branding, material procurement, quality, safety, environmental protection, and health. All data regarding emissions and energy consumption are calculated in accordance with relevant standards issued by the Chinese government. In 2022, the company’s GHG emissions reported for scope 1 (Direct GHG emissions) was 119.68 million tCO2e and scope 2 (Indirect GHG emissions) was 40.88 million tCO2e, totaling 160.56 million tCO2e. The company's objective is to maintain GHG emissions at 169 million tons of carbon dioxide equivalent ("tCO2e") or below. The company aims to achieve a 50% reduction in methane emission intensity compared to 2019, reaching 0.25% by 2025. Additionally, the goal is to further reduce methane emission intensity by 20% compared to 2025, achieving a level of 0.20% by 2035.
In 2022, there was a 4% reduction in GHG emissions, an 11% decrease in methane emission intensity, and a 0.45% decline in energy consumption from oil and gas production units in China compared to the previous year. PetroChina is committed to curbing carbon emissions and transitioning to a low-carbon future. The company is focused on responding to climate change and energy transition, as well as environmental protection. It aims to support a precautionary approach to environmental challenges and promote greater environmental responsibility. PetroChina also encourages the development and diffusion of environmentally friendly technologies. The company's emphasis on environmental protection and sustainability suggests that it is actively working towards reducing its emissions.
PetroChina has implemented measures for emission reduction and has achieved certain milestones. The company has taken steps to manage labor contracts, evaluate company leaders' performance, ensure production safety and environmental protection, supervise product quality, and monitor staff safety and environmental performance. It has also implemented regulations and measures for environmental protection, energy and water conservation, and wastewater discharge permits. PetroChina is committed to the sustainable utilization of natural resources and the management of pollutant discharge. The company has made investments in technological innovation and digital empowerment to support its emission reduction efforts.
In conclusion, PetroChina is focused on reducing its carbon emissions and GHG emissions. The company has implemented various measures and regulations to ensure environmental protection and sustainability. PetroChina's commitment to curbing carbon emissions and promoting environmental responsibility indicates its dedication to addressing climate change and transitioning to a low-carbon future.