Climate_Change

Climate Change

Climate change is an issue that concerns the entire world. Increasing temperatures, rising sea levels, the frequent occurrence of extreme weather and disasters, and the extinction of species caused by climate change are seriously threatening the natural ecological system and people's living environment.

CNPC has always attached great importance to the control and reduction of greenhouse gas emissions. We actively support China's National Climate Change Program and shall continue to take effective measures to reduce emissions, sequestrate carbon and tackle global climate change.

InJuly 2007, CNPC jointly established the Green Carbon Fund with the State Forestry Administration and China Green Foundation (CGF). It is a special national public fund managed by CGF aimed at providing a platform for businesses, organizations and individuals to participate in voluntary activities such as tree planting and forest protection. The fund was launched on the basis of a RMB 300 million donation by CNPC. All money collected shall be used to carry out forestry carbon sink activity. It is estimated that the fund can help absorb and fix 5-10 million metric tons of carbon dioxide over the next 10 years. In 2008, the first group of CNPC carbon sink forestation projects was piloted in Beijing, Heilongjiang, Gansu, Hebei, Hubei, Zhejiang and Guangdong.

In September 2008, we jointly established the Tianjin Climate Exchange (TCE) with the Tianjin Property Rights Exchange Center and the Chicago Climate Exchange, with CNPC owning 53% of its stock. TCE, China's first climate exchange agency, is an international trading platform committed to energy saving and pollution reduction. It has started trading in credits of major pollutants such as sulfur dioxide and COD as well as energy-efficient products. On December 23, 2008, TCE completed China's first Internet-based trading in sulfur dioxide emission indicators.