The Shanghai Environment and Energy Exchange (SEEE) has certified a shipment of petroleum from Sinopec, Cosco Shipping and China Eastern Airlines as carbon neutral.
It is China’s first shipment of full life cycle carbon neutral petroleum. The 30,000 tonnes of crude oil came from Sinopec International Petroleum Exploration and Production Corporation’s share of oil in Angola. Its trading arm Unipec imported the oil. Cosco Shipping shipped the oil more than 9,300 nautical miles from Angola to Ningbo Zhoushan Port in Zhejiang province, China. From there the oil went to the Sinopec Gaoqiao Petrochemical Corporation refinery.
The three companies aimed to jointly develop an a ‘new model of green transportation,’ with a cross-industry, full-cycle and zero-emission path, as China’s transport and energy sectors seek to reach peak carbon emissions and achieve carbon neutrality. The carbon emissions from the whole life cycle of the petroleum have been offset by Sinopec, Cosco Shipping and China Eastern Airlines through a combination of energy saving and emission reduction strategies, and Chinese Certified Emission Reduction (CCER) carbon credits. China Classification Society Certification Company (CCSC) acted as the third-party verification agency. It measured the carbon dioxide produced throughout the entire life cycle of the petroleum, including oil exploitation, transportation, storage, refining and product consumption, to allow the emissions to be fully offset. Sinopec, Cosco Shipping and China Eastern Airlines each offset the emissions from their own activities related to the shipment.
Sinopec will offer carbon neutral gasoline and diesel to the public at selected fuel stations later in 2021. It is also supplying 5,417 tonnes of jet fuel to China Eastern Airlines for carbon neutral flights.
‘Sinopec is committed to achieve green and low-carbon development. This carbon neutral petroleum project has achieved carbon neutrality from the cradle to the grave with every drop of oil. It is also the first carbon emissions offset endeavour carried out by companies across three industries, realising full coverage of carbon neutralisation of land, sea and air transportation. The project is of positive effect, and we will thrive to provide safer, cleaner and diversified energy while meeting the target requirements of reaching carbon peak and achieving carbon neutrality,’ says Ling Yiqun, vice president of Sinopec Group.