Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Protection
• Employee Well-being
• Social Responsibility
• Governance

Environmental Achievements

• Won the titles of green plant and green supply chain management demonstration enterprise.
• Renovated the domestic sewage system on 5 ships.
• No ship environmental pollution accidents.

Social Achievements

• Organized various trainings, with training hours per capita reaching the target.
• Carried out cultural and sports activities for employees.
• Provided financial aid to 32 families in need.
• Donated school uniforms, supplies, and subsidies to students.

Governance Achievements

• Improved corporate governance structure in accordance with laws and regulations.
• Reduced internal control systems by 35.32%.
• Received Class A evaluation for information disclosure.

Climate Goals & Targets

Environmental Challenges

• Increased workload and overseas projects with tight schedules and complicated working environments.
• Pressure on safety and quality, difficulty in project management.
• Haze problem in the Beijing-Tianjin-Hebei region.

Mitigation Strategies

• Successfully responded to dangerous situations and natural disasters without major work safety accidents.
• Improved QHSE management system and streamlined business processes.
• Active communication with the environmental protection department to be included in the list of strategic emerging industries.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Notice of Shanghai Stock Exchange on Strengthening CSR Work of Listed Companies & Issuing Guidelines on Environmental Information Disclosure of Listed Companies in SSE

Awards & Recognition

• Class A evaluation for information disclosure
• Green plant and green supply chain management demonstration enterprise
• Outstanding Promotion Unit at the 40th Anniversary for Comprehensive Quality Management Promotion

Environmental Metrics

ESG Focus Areas

• Green and Low-carbon Strategy

Environmental Achievements

• Not disclosed

Social Achievements

• Granted total amount of RMB 62,900 as relief subsidy and also living allowance during the epidemic to the needy workers (13 families) of the Company, and granted student subsidies totaling RMB 44,000 to school-age children from the families of 13 needy workers.
• The company’s management layer paid visits to and consoled 5 needy CPC Party members and 5 needy worker families to solve their difficulties.
• In the special activity — “Enter Needy Worker Families to Bring Warmth” —of CNOOC, the Company brought warmth to 24 needy worker families with support amount of RMB 240,000, and helped a total of 375 disabled employees and their family members with amount of relief of RMB 865,000.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• The sudden outbreak and rapid spread of COVID-19 has severely impacted global economic activities.
• The global oil price witnessed a plunge rarely seen in history, and the capital expenditures of the global oil and gas industry were slashed.
• Affected by the epidemic, the delivery of engineering materials for some of the Company’s projects was delayed, and subcontractors were unable to resume work as originally planned, which significantly affected the progress of such projects and increased project assurance costs and difficulties in project management.

Mitigation Strategies

• The Company dealt with difficulties with firm confidence, resolutely resumed work and production after properly taking epidemic prevention and control measures, focused on production and management and made positive progress in all work, while earnestly preventing and controlling the epidemic.
• The Company executed the “10+1” Key Engineering Projects (“10+1” Projects) as planned and won high praise from Party A.
• The Company acquired new contracts with a total amount of about RMB 18.9 billion, realizing a substantial year-on-year increase.
• The Company has made phased progress in cost saving and efficiency improvement, and has improved its management efficiency and operational efficiency through continuously deepening reform.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Protection
• Innovation
• Employee Development
• Social Responsibility
• Governance

Environmental Achievements

• Reduced carbon dioxide emissions by 9,939 tons (101% of preset goal)
• Reduced water consumption by 3,970 tons (124% of preset goal)
• Saved 3,288 tons of standard coal (206% of preset goal)
• Successfully put into operation Caofeidian 6-4 Oilfield, China’s first offshore “green oilfield”, reducing fuel consumption by 11,000 tons annually and CO2 emissions by 40,000 tons annually.
• Zero environmental pollution incident and zero environmental administrative penalty within the organization

Social Achievements

• Achieved full vaccination coverage (100%) among employees requiring vaccination
• Zero infection goal of pandemic prevention and control in all domestic and overseas workplaces
• Conducted more than 30,000 QHSE training sessions for more than 780,000 participants, totaling 1.37 million training hours (280% greater than 2020)
• Donated 279 thousand Yuan and visited 28 needy families
• Invested 3,617 thousand Yuan in poverty alleviation through consumption

Governance Achievements

• Improved 149 internal control systems (137% plans completion rate)
• Optimized business processes, reducing control points by 35%
• Improved authority settings, granting 35 additional authorizations
• Reduced approval levels by 59 and the number of institutional systems by 10.71%
• Information disclosure work rated as class A by the Shanghai Stock Exchange for three consecutive years
• MSCI ESG rating of BBB

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic
• Maintaining high safety standards in a demanding industry
• Balancing economic growth with environmental sustainability

Mitigation Strategies

• Implemented strict pandemic prevention and control measures
• Reshaped QHSE management system
• Implemented a three-year action plan for special rectification of work safety
• Launched a “100-day” safety promotion campaign
• Implemented 137 measures to save energy and improve efficiency
• Developed a Strategy for Implementation of Carbon Dioxide Peaking and Carbon Neutrality

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Self-regulatory Guidelines No. 1 for Companies Listed on the Shanghai Stock Exchange——Standardized Operation (Chapter 8 Social Responsibility)

Certifications: ISO 9001, 14001, 45001

Awards & Recognition

• Energy Conservation A-rating Enterprise of Tianjin
• 2021 Top Ten Excellent Health (Promotion) Enterprise in Binhai New Area

Environmental Metrics

ESG Focus Areas

• Environmental Protection
• Social Responsibility
• Corporate Governance

Environmental Achievements

• Achieved total energy conservation of 4,183 tons of standard coal and carbon reduction of 11,425 tons of carbon dioxide in 2022, exceeding targets by 232% and 109% respectively.
• Successfully completed the 2022 energy conservation and carbon reduction targets and indicators.
• No environmental pollution accidents from ships throughout the year.
• Actively promoted water-based primer to reduce volatile organic compound emissions.
• Completed research, manufacturing, and installation of the first offshore “CO2 storage” module in China, expected to store about 300,000 tons of CO2 annually.
• Actively promoting the construction of green enterprise. Qingdao Company was awarded the title of "Green Supply Chain Management Enterprise" in Qingdao City.

Social Achievements

• No major safety accidents or occupational disease incidents throughout the year.
• Invested RMB 1.5 million to support a poor village and helped sell special agricultural products worth RMB 4.06 million.
• Donated RMB 150,000 to the Hope Primary School (50% year-on-year increase).
• Improved employee remuneration and welfare system.
• Carried out 6,873 training sessions with 251,700 participants and 171.16 average training hours per employee.
• Employee satisfaction rate of 98% for mental health initiatives.

Governance Achievements

• Revised, improved, and issued 21 corporate governance systems.
• Strengthened internal supervision and improved decision-making efficiency.
• Implemented special rectification of procurement contracts and revised 17 supply chain and contract management systems.
• Improved compliance management.
• Strengthened the construction of anti-corruption and clean governance.

Climate Goals & Targets

Environmental Challenges

• Risks from oil price fluctuation.
• Risks of major safety, environmental protection, and quality accidents.
• Compliance risks.
• Information security risks.
• Risk of the impact of COVID-19 on the Company's production and operation.
• Risk of legal disputes.
• Potential for additional cost increases and reputational damage due to carbon emission regulations.
• Risks of economic and social responsibility may be caused by irregular implementation of policies and measures for energy conservation and carbon reduction.

Mitigation Strategies

• Developed response strategies for major risks and assigned responsible units for implementation.
• Strengthened information security management system and data protection.
• Implemented the green and low-carbon development strategy.
• Improved environmental protection management to ensure compliance with laws and regulations.
• Strengthened QHSE organization guarantee and system remodeling.
• Consolidated and improved the “three-year action plan for special rectification of work safety”.
• Implemented special plan for improving the working environment of contractors.
• Carried out special promotion action of safety training.

Supply Chain Management

Supplier Audits: 520 suppliers audited, 1,593 copies of evaluations collected.

Responsible Procurement

• Category construction
• Green supply chain development
• Supplier compliance management guide

Climate-Related Risks & Opportunities

Transition Risks

• Carbon emission policies and regulations

Opportunities

• Offshore CO2 storage
• Offshore wind power

Reporting Standards

Frameworks Used: GRI Standards, Shanghai Stock Exchange No.1 Guidelines

Certifications: ISO 14001 (DNV.GL)

Sustainable Products & Innovation

• First offshore CO2 storage module
• Underwater data center

Awards & Recognition

• Green Supply Chain Management Enterprise (Qingdao Company)