On June 29, CNOOC launched its carbon peak and carbon neutrality action plan, aiming to achieve carbon peaking in 2028 and carbon neutrality in 2050.

During the "14th Five-year plan" period, CNOOC plans to decrease its carbon emission intensity by 10 percent to 18 percent. The company will invest 5 percent to 10 percent of its capital expenditure in emerging industries including new energies, and the percentage of renewable energies in its total energy output would surpass that of oil and gas by 2050. Through the implementation of the action plan, CNOOC is set to transform into a world-calss green and low-carbon energy product and service provider in an all-round way.