On April 2, 2021, in recognition of successful practices of oil tankers in the energy saving and low carbon fields, Sinochem Oil Co., Ltd. was awarded with Certificate of Carbon Neutrality, which was jointly issued by China Beijing Green Exchange and China Classification Society. This marked the first domestic tanker voyage which achieved carbon neutrality.

In witness of the first-ever Carbon Neutrality Verification Certificate and certificate issuance for “Island Splendor” Tanker Voyage, Mr. Zhong Ren, Vice President of Sinochem Holdings Corporation Ltd., Vice President of Sinochem Energy Co., Ltd. and President of Sinochem Oil Co., Ltd., Mr. Wu Ruchuan, Chairman of China Beijing Equity Exchange, Mr. Zhu Ge, Chairman of China Beijing Green Exchange, Mr. Li Honglin, Secretary of the Party Committee of China Classification Society Certification Company and other leaders gathered at China Beijing Green Exchange.

According to Mr. Zhong Ren, Sinochem Oil Co., Ltd. is expected to make bold innovations, take full advantage of trading and transaction characteristics of “state-operated oil trader”, and blaze the path for carbon asset management, trading and green development. On the site of certificate issuance ceremony, Sinochem Oil Co., Ltd., China Beijing Green Exchange and China Classification Society not only jointly discussed about the approaches to achieving peak carbon dioxide emissions and carbon neutrality in shipping logistics industry under the new background of China’s ecological civilization system building, but also exchanged incisive views upon the future innovative ways of collaboration.

It is reported that “Island Splendor” Tanker set sail on January 26, 2021, and completed the entire voyage on March 25, 2021. Through rigorous procedures, such as carbon footprint inspection, energy conservation, emission reduction, independent third-party carbon emission verification, purchase and write-off under China Certified Emission Reduction (CCER), Sinochem Oil Co., Ltd. deregistered the verified 8,583 tons of carbon dioxide, and achieved the first-ever carbon neutrality of tanker voyage in China. This demonstrated the solid determination of Sinochem Oil Co., Ltd. in stimulating the research and development of new technologies and green energy in the shipping and logistics industry.