China Petroleum & Chemical Corporation’s (Sinopec) President Ma Yongsheng has called for the inclusion of carbon capture, utilisation and storage (CCUS) projects into the country’s voluntary emission reduction system.
CCUS is a key decarbonisation technology with the potential to significantly reduce emissions and a key contributor to achieving the “dual carbon” goals, state-run oil and gas company said in a statement.
While China’s CCUS technology and projects are developing steadily, the scale of CCUS projects is still relatively small compared to the total emission volume, and certain gaps in core technologies, especially the high cost, are limiting the large-scale commercial application.
Ma’s proposal of including CCUS projects in China’s voluntary emission reduction system calls for the relaunching and building the unified national China Certified Emission Reduction market to allow more carbon reduction projects.
He called for amending the CCUS industry regulations, institutional and legal framework, and technical specifications to launch national standards of quantitative CCUS certification.
Chemical recycling of waste plastics is a sustainable “waste to wealth” approach to advancing the green transformation of the refining and chemical industry. However, there are still challenges in acquiring raw materials, lack of technology maturity and overall planning capabilities of the entire industry chain, the statement added.
Establishing an industrial demonstration and chemical recycling industry chain, as well as raw materials and product-related standard systems, is imperative, it noted.
Ma proposed accelerating top-level planning and promoting companies to establish national innovation centres, continue to tackle core technologies, and strengthen commercial development and resource utilisation under government guidance to further promote the green transformation of the industry.
(Writing by P Deol; Editing by Anoop Menon)