CNOOC International responsibly develops oil and gas resources that provide the energy we need today and in the future. This responsibility also includes acting on climate change and reducing our carbon emissions. Global energy demand is expected to rise as incomes grow and millions of people around the world are lifted out of energy poverty. Given this, there is no easy solution to delivering energy for all while reducing Greenhouse Gas (GHG) emissions.
We recognize the management of GHG emissions is an important policy and business issue and we support a range of actions to improve our emissions performance. These include using energy efficient technologies in the construction of our facilities, pursuing energy efficiency and conservation measures across our existing operations, and making investments in new technologies and innovation to improve emissions performance for the longer term. For operating jurisdictions with carbon pricing like the UK and Canada, we also participate in carbon markets and invest in carbon offsets as part of meeting our compliance obligations.
CNOOC International believes that establishing the right policy framework is also an essential part of effective climate policy. We work with governments and other stakeholders encourage energy and climate change policies that are effective, encourage investment and innovation, and provide clarity for companies and the public alike.
CNOOC International operates in areas of rich and sensitive ecosystems. We recognize that earning the social license to operate and grow our business is dependent on our ability to explore for, and develop, energy reserves without adversely affecting natural ecosystems and wildlife. As a result, we integrate ecosystem considerations into our business practices and operations. This helps us minimize risks and maximize opportunities as we work to make a positive contribution to protect ecosystems in all the areas where we operate.
Water is a key ingredient that enables the development of hydrocarbon resources. We continuously look for opportunities to minimize our water use throughout our operations as we seek to deliver sustainable energy for all. We aim to do this through the use of innovative technologies, continuously monitoring our work, recycling water where practical and collaborating with industry partners and stakeholders.
2021 Canadian Sustainability Report