China's largest Offshore Oil and Gas Producer

Impact of the Goal of Carbon Neutrality on China's Energy Sector

"Peaking carbon dioxide emissions and achieving carbon neutrality" are China's solemn commitments in the process of global greenhouse gas emission reduction. By reviewing the background of "peaking carbon dioxide emissions and achieving carbon neutrality", this paper analyzes the impacts of the goal on China's energy sector, which are mainly reflected in four aspects: (1) accelerating the adjustment of China’s energy structure; (2) pushing further improvement of the energy technology innovation system; (3) accelerating the institutional reform in the energy sector; (4) accelerating the high-quality development of China’s traditional energy sector. This paper then analyzes a series of actions of domestic central energy enterprises on "peaking carbon dioxide emissions and achieving carbon neutrality", which can be summarized into three aspects: First, Central enterprises have carried out comprehensive researches on "peaking carbon dioxide emissions and achieving carbon neutrality" to drive the energy transition of the entire industry; Second, central enterprises have actively practiced their main businesses and developed new businesses according to the principle of "adaptation to local conditions"; Third, central enterprises have been actively involved in work related to "green finance" to stimulate their innovation and vitality and help them achieve the goal of carbon neutrality.

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