We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
CNOOC is a direct member of the Instituto Brasileiro de Petróleo e Gás and Sheng Jianbo, President of CNOOC Brazil, sits in one of its boards (Up to date as of August 2022)
Sheng Jianbo
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
CNOOC is a direct member of the Instituto Brasileiro de Petróleo e Gás and Sheng Jianbo, President of CNOOC Brazil, sits in one of its boards (Up to date as of August 2022)
Sheng Jianbo
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
CNOOC International is a member of OGUK (Correct as of September 2021); A senior executive at CNOOC, Scott McGinigal, sits on the board of OGUK.
Scott McGinigal
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
CNOOC International is a member of OGUK (Correct as of September 2021); A senior executive at CNOOC, Scott McGinigal, sits on the board of OGUK.
Scott McGinigal
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Open PDF file of Data Source
Climate Lobbying Overview: CNOOC appears to engage with climate change policy with mixed positive and negative positions. The company appears supportive of ambitious climate action in its top-line messaging, and advocated for the introduction of a carbon tax and emissions trading scheme in China. However, the company appears to support a long-term role for natural gas in the energy mix, contrary to IPCC guidance.
Top-line Messaging on Climate Policy: Overall, CNOOC has communicated a positive top-line position on climate change. In the 2021 ESG Report published by CNOOC Limited in April 2022, the company backed the Paris Agreement. In its 2021 Annual Report, accessed in August 2022, the CNOOC Group appeared supportive of the goal of achieving carbon neutrality by 2060 in China. In addition, as reported by media outlet BJX in February 2022, the company stated support for a number of government policies on the implementation of the goals of carbon peak and carbon neutrality in China.
Engagement with Climate-related Regulations: CNOOC has communicated positively on several climate-related policy streams. In an interview reported by media outlet OfWeek in January 2020, CNOOC advocated for a carbon tax on coal, oil, and gas as a top-level measure to facilitate a systemic energy transition in China. As reported by BJX News in February 2022, the CNOOC Energy Economics Institute has stated support for accelerating the process of building a national carbon market and called for electricity market reform to ensure the ramping up of renewable energy in the power grid in China. As reported by IN-EN in June 2022, CNOOC Energy Economics Institute appeared supportive of China’s Renewable Energy Law and the annual guide issued by the government on the development of renewable energy sector.
In terms of emissions reduction, in the 2021 Annual Report, accessed in August 2022, CNOOC Group supported China’s target of reaching carbon peak by 2030. In its 2021 ESG Report, published in April 2022, CNOOC Limited appeared supportive of the emissions reduction targets proposed by the UK government in the North Sea Transition Deal. In a joint statement initiated by the Methane Emission Control Alliance, published on the company’s blog in May 2021, CNOOC stated support for the government's formulation and implementation of methane emission control policies.
Positioning on Energy Transition: CNOOC does not appear fully supportive of the energy transition away from fossil fuels. In March 2021, as reported by media outlet Oil In-En, CNOOC stated support for clean energy and the transition towards a green and low-carbon energy sector. In a December 2021 press release, CNOOC supported electricity generation from renewables. However, in a February 2022 press release, CNOOC supported new fossil fuel infrastructure investments such as the Lake Alberta oil project and the East Africa Crude Oil Pipeline, stating that it will bring economic opportunities for Uganda. In a March 2022 press release, CNOOC disclosed that it has made a proposal to policymakers during the annual Two Sessions to advocate for policies to support domestic natural gas projects. Additionally, as reported by SINA News in June 2022, CNOOC Energy Economics Institute suggested building further oil and gas infrastructure in China to ensure energy supply and security.
Industry Association Governance: CNOOC lacks a dedicated disclosure of its industry association memberships on its corporate website and did not respond to CDP’s Climate Change information request in 2021. However, InfluenceMap has identified memberships to the Canadian Association of Petroleum Producers (CAPP) and Oil and Gas UK, both of which have engaged negatively on climate policy and the energy mix.
Additional Note: CNOOC is a listed company with more than 50% of its shares owned by the government of China. State-owned enterprises likely retain channels of direct and private engagement with government officials that InfluenceMap is unable to assess, and therefore are not represented in CNOOC's engagement intensity metric.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2022.