SIBUR to Offset Carbon Footprint of Russia’s COP29 Delegation

MOSCOW, RUSSIA - Media OutReach Newswire - 14 November 2024 - SIBUR plans to offset the carbon footprint of the Russian delegation attending the UN Climate Change Conference (COP29) in Azerbaijan, making it the first internationally verified carbon-neutral delegation in the history of the conference.

The offset will be achieved using carbon credits generated through a climate project aimed at improving energy efficiency at SIBUR-Neftekhim. The credits will be withdrawn from the company's account in the Russian Carbon Units Registry.

The carbon footprint will be calculated by Kept, while TÜV AUSTRIA Standards & Compliance will verify the carbon-neutrality claim. A certificate confirming the carbon offset will be published on the website of the UN Global Compact National Network. The process is being carried out with the support of the Federal Service for Hydrometeorology and Environmental Monitoring, which is facilitating the work of Russia's delegation and working group.

"We welcome SIBUR's initiative to offset the carbon footprint of Russia's COP29 delegation. It is important that the process is as transparent as possible and involves international verification bodies that will confirm the delegation's carbon-neutral status," said Natalia Dorpeko, Executive Director of the UN Global Compact National Network.

SIBUR experts regularly play an active role in the conference's business programme, sharing their expertise on climate-related issues, including on the best practices and technological solutions adopted by the company, approaches to climate risk management, as well as the results of their climate projects and carbon credit transactions.

The company has already completed eight climate projects, reducing its emissions by a total of 10.8 million tonnes of CO₂-equivalent emissions over the past 10 years. These initiatives have generated over 3.3 million tonnes of certified carbon credits that can be traded in both Russian and international markets. To date, SIBUR has concluded no fewer than 15 transactions involving carbon credits, enabling its customers and partners to reduce or fully offset the carbon footprint of their operations, products or events.

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