GlobalData offers a comprehensive analysis of Yanchang Petroleum International, 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 Yanchang Petroleum International‘s ESG performance. GlobalData’s company profile on Yanchang Petroleum International 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.
Yanchang Petroleum International, a global oil and gas company, is committed to reducing its emissions to address climate change. The company recognizes the importance of transitioning to alternative energy sources and reducing greenhouse gas (GHG) emissions to lower its environmental impact. Yanchang Petroleum International aims to tackle emissions across all scopes, including scope 1 (direct emissions) and scope 2 (energy indirect emissions). The 2022 ESG report of the company provides insights into the emissions data of its subsidiaries, Novus Energy Inc. and Henan Yanchang Petroleum Sales Co. In the same year, Henan Yanchang reported GHG emissions for scope 1 (Direct GHG emissions) at 38.15 tCO2-e and for scope 2 (Indirect GHG emissions) at 544.89 tCO2-e. On the other hand, Novus disclosed scope 1 emissions of 91.45 tCO2-e and scope 2 emissions of 753.11 tCO2-e in 2022.
The company has taken several steps to reduce its carbon and GHG emissions. It prioritizes the selection of energy-saving equipment and monitors environmental and social risks in its supply chain. Yanchang Petroleum International also emphasizes the procurement of local suppliers to minimize GHG emissions from overseas transportation. Additionally, the company has made investments in renewable energy consumption, such as methanol fuel, to reduce its carbon footprint.
Yanchang Petroleum International acknowledges the risks associated with climate change, including the impact on infrastructure, production processes, and operations. The company conducts regular assessments of these risks, particularly those related to extreme weather events caused by climate change. By formulating appropriate budgets, the company aims to improve facilities and technologies to reduce greenhouse gas and pollution emissions.
In terms of achievements, Yanchang Petroleum International has made progress in reducing its energy consumption and intensity. The company has implemented water-saving measures, including the use of environmental protection equipment and administrative measures. It has also taken steps to optimize power usage at oilfield production sites. Furthermore, the company has successfully reduced its greenhouse gas emissions intensity, with lower emissions per unit of production output.
Overall, Yanchang Petroleum International is committed to fighting climate change and complying with environmental regulations. The company recognizes the importance of reducing emissions and implementing pollution control measures to protect the environment. Through its efforts to transition to alternative energy sources and improve operational efficiency, Yanchang Petroleum International is working towards reducing emission and contributing to a more sustainable future.