New Global Alliance Led by Sinopec Aims to Drive Carbon Neutrality Through Advanced CCUS Technology
Inbizzy, Beijing, – China has taken a major step in the global fight against climate change with the official launch of the International Carbon Capture, Utilization, and Storage (CCUS) Technology Innovation & Cooperation Organization (ICTO) in Beijing. The initiative, spearheaded by Sinopec (China Petroleum & Chemical Corporation, HKG: 0386) under the guidance of the China Association for Science and Technology (CAST), brings together 50 top organizations from across the globe to form a new international alliance for climate innovation.
The newly inaugurated ICTO aims to foster international collaboration among leading think tanks, research institutions, industry associations, and academic experts. With the mission of “Innovating for Carbon Pathway, Sharing the Future,” the organization seeks to build a globally recognized and credible platform for CCUS technology exchange and application.
More than 90 delegates from 12 countries and four continents attended the event, which marked the formal adoption of the ICTO Charter. The organization also elected its inaugural leadership team, with Ma Yongsheng, Chairman of Sinopec and academician of the Chinese Academy of Engineering, appointed as the first director.
“The establishment of ICTO is more than symbolic-it reflects a unified global commitment to climate action through real, impactful collaboration,” said Ma Yongsheng. “By building a platform for open dialogue and cooperation, we can accelerate the development of CCUS technologies and move closer to achieving global carbon neutrality.”
CCUS: A Critical Tool for Reaching Net-Zero
Carbon Capture, Utilization, and Storage (CCUS) is seen as a key technology in meeting global emissions targets. According to climate analysts, CCUS could contribute up to 15% of the cumulative emissions reductions needed to reach net-zero goals. However, to meet that demand, global CCUS capacity must grow more than 100-fold by 2050.
Today, 151 countries have pledged climate goals ranging from net-zero emissions to full carbon neutrality. Initiatives like ICTO are crucial to turning these targets into reality through cross-border cooperation and shared innovation.
Sinopec’s Leadership in China’s CCUS Development
Sinopec has played a pioneering role in China’s CCUS development. It launched the country’s first CCUS project at Shengli Oilfield in 2012, and in 2015, it integrated CO₂ utilization across its operations. In 2022, Sinopec began commercial operation of China’s first megaton-scale CCUS project, and in 2023, it completed the nation’s first long-distance CO₂ transmission pipeline, marking a milestone in infrastructure development for carbon management.
