CNOOC's 2024 ESG Report Highlights Sustainable Practices

CNOOC Limited Unveils the 2024 Environmental, Social, and Governance Report

CNOOC Limited recently published its 2024 Environmental, Social, and Governance (ESG) Report, presenting a comprehensive account of the Company’s strides toward sustainability. This document not only highlights the Company’s achievements in multiple ESG areas but also affirms its commitment to reinforcing compliance and enhancing communication with stakeholders.

Emphasizing Sustainable Development and Governance

The focus of CNOOC’s 2024 ESG report is to ensure robust governance, underpinning sustainable development initiatives. The Company solidifies its foundation through strict adherence to corporate governance principles while embedding ESG values deeply within its operational framework. Compliance with ethical business practices is prioritized, ensuring that every facet of the organization operates lawfully and efficiently.

Commitment to Environmental Responsibility

CNOOC Limited is resolute in promoting environment-friendly development strategies. The objective is to dynamically reshape the energy output, especially enhancing the role of natural gas within its production portfolio. This entails a commitment to rigorous exploration and the promotion of low-carbon production methodologies. Noteworthy projects include the launch of Wushi 23-5, celebrated as China’s first offshore oilfield designed with green principles.

Innovative Approaches in Energy Production

In 2024, CNOOC initiated 18 energy-saving overhaul projects, cumulatively achieving a reduction of over 589,500 metric tons in CO? emissions. The Company is actively engaging in green projects including the integrated offshore wind power demonstration project “Haiyou Guanlan,” and is experimenting with expanding carbon capture technologies with ongoing CCUS bases in Bohai and Hainan. These advancements underscore CNOOC’s commitment to harnessing digital technologies, resulting in smarter operational practices and increased efficiency.

Pushing for Ecological Preservation

Beyond corporate interests, CNOOC Limited places strong emphasis on ecological preservation. The commitment to protecting natural resources has led to the execution of numerous ecological restoration initiatives. The Company upholds stringent environmental standards, ensuring that operations align with environmental regulations while proactively engaging in community outreach to raise awareness of biodiversity and conservation efforts.

Fulfilling Corporate Social Responsibilities

Fulfilling its role as a responsible corporate citizen, CNOOC continues to contribute positively to society. The Company actively strengthens its communication channels with employees and stakeholders, enhancing its approach to public welfare activities. CNOOC is proud of the social contributions it has made, including the provision of over 22,000 job opportunities and involvement in multiple emergency response operations.

Commitment to Community Development

With a focus on community co-development, CNOOC has been involved in various programs aimed at poverty alleviation. An example of such is their local talent development initiative in Uganda, recognized for its impactful approach. The Company is dedicated to creating a sustainable future through empowering local communities while simultaneously delivering significant shareholder returns.

Conclusion: A Forward-Looking Mindset

Chairman Wang Dongjin expressed the Company’s vision for the future, emphasizing the balance of opportunities and challenges on the horizon. CNOOC remains committed to enhancing governance standards and driving technological innovation. The focus is on creating long-term value while promoting economic growth and societal benefits, striving continually for excellence in every sphere of operation.

For additional information regarding CNOOC Limited, please refer to their official website.

Frequently Asked Questions

What is the focus of CNOOC's 2024 ESG Report?

The report emphasizes governance, green development, and corporate social responsibility as pillars for sustainable operations.

How is CNOOC addressing environmental challenges?

CNOOC is implementing green practices, such as launching energy-saving projects and focusing on natural gas production.

What community initiatives is CNOOC involved in?

The Company conducts various social responsibility projects, providing jobs and engaging in poverty alleviation programs.

What technological advancements has CNOOC made?

CNOOC is utilizing innovative methods including digital technologies for smarter operations and energy efficiency.

How does CNOOC ensure compliance with governance?

The Company follows strict business ethics and guidelines, reinforcing a culture of transparency and accountability across its operations.

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