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-Sinopec advocates integrating CCUS into China’s voluntary emission reduction system to achieve double carbon emissions targets

Chemical recycling of plastic waste, key to the sustainability of the chemical industry

BEIJING, March 13, 2023/PRNewswire/ — Ma Yongsheng, Chairman of China Petroleum

CCUS is a key decarbonisation technology with the potential to significantly reduce emissions and make a significant contribution to achieving “double carbon” targets. Although China’s CCUS projects and technology are developing steadily, the scale of CCUS projects is still relatively small compared to the total volume of emissions, and certain gaps in basic technologies, especially the high cost, limit the large-scale commercial application.

Ma’s proposal to include CCUS projects in China’s voluntary emission reduction system calls for relaunching and building the unified national CCER (China Certified Emission Reduction) market, so that more emission reduction projects can participate in the carbon market. and motivate companies to carry out emission reduction projects.

“Meanwhile, it is crucial to carry out and publish CCUS methodological research at the national level, or accredit the methodological research carried out by companies and publish it in a timely manner to promote the scale-up development of CCUS projects,” Ma said.

Suggests modifying CCUS industrial regulations, institutional and legal framework, and technical specifications to launch national CCUS quantitative certification standards, and explore supporting policies such as CCUS tax preference and subsidy incentives to achieve the goal of carbon neutrality.

Chemical recycling of plastic waste is a sustainable “waste-to-wealth” approach to advance the green transformation of the chemical and refining industry, and is part of the circular economy roadmap to improve the utilization rate of resources and reduce GHG emissions. Although China is carrying out technological research in line with its international counterparts, there are still challenges of difficulty in the acquisition of raw materials, lack of technological maturity and general planning capabilities of the entire industrial chain. It is imperative to establish an industrial demonstration and industrial chemical recycling chain, as well as standardized systems related to raw materials and products.

Ma has proposed accelerating high-level planning and promoting enterprises to set up national innovation centers, continue to tackle core technologies, and strengthen business development and resource utilization under government guidance to further promote the green transformation of the industry.

For more information, visit Sinopec.

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