SIBUR secures international verification of certified emission reductions (CERs) earned by its climate project at ZapSibNeftekhim

SIBUR has secured international verification of a climate project completed at ZapSibNeftekhim, Russia’s largest petrochemical facility.

MOSCOW, RUSSIA – Media OutReach – 14 February 2023 – Verico SCE, Europe’s leading validation and verification body, has confirmed that SIBUR’s climate project meets ISO 14064-2:2019. This helped SIBUR earn certified emission reductions (CERs) totalling some 3 million tonnes of CO2-eq. by 2022.

Under the climate project, by-products of ZapSibNeftekhim will be recycled for heat and power generation. Feedstock residues that cannot be brought back into the core production cycle are fed to HPPs’ power boilers rather than flared, thus significantly reducing greenhouse gas emissions. As part of the project, SIBUR has built a gas-mixing unit for making a fuel mixture.

This is Russia’s first GHG emission reduction project verified by an international body for compliance with ISO 14064-2:2019 and requirements pertaining to quantification, monitoring, and reporting. The climate project development and validation process was supported by Kept, an audit and advisory firm.

Mikhail Karisalov, Chairman of the Management Board and CEO of SIBUR: “Decarbonisation is a priority area of SIBUR’s Sustainable Development Strategy, which sets out the Company’s targets to reduce GHG emissions and achieve carbon neutrality of at least one of our facilities by 2025. For some years now, we have been assessing the impact of our investment projects on GHG emissions of each facility and the Company as a whole. We expect the implementation of this internationally validated climate project in Tobolsk to help our Group facilities intensify their decarbonisation efforts, and make a major contribution to solidifying SIBUR’s position among leaders of the national climate agenda.”

Vladimir Lukin, Partner, Operational Risks and Sustainability, Kept: “The validation of the ZapSibNeftekhim project for compliance with ISO 14064-2:2019 is a milestone for the national carbon market development as it basically recognises the quality of Russian climate projects. This opens up opportunities for further integration of Russia’s climate policy into the global climate action. The validation process confirmed the project’s compliance with international requirements and also, importantly, with the practical criteria applied to climate projects by verifying and validating bodies, including additionality, baseline justification, and monitoring approaches.”

Vyacheslav Vekovtsev, Verico SCE representative in Russia and director general in Ecopolis Certification & Service: “Despite the current situation we continue working on the Russian market and contribute to improving the quality of verification institutions in the Russian Federation as we as acknowledgement of Russian climate projects and carbon credits on the international level. We are very pleased to take part in the project of examination and certification of the first gas emission reduction project in Russia, in accordance with the ISO 14064-2:2019 standard. Congratulations to the SIBUR and ZapSibNeftekhim team on the successful positive verification!”

Hashtag: #SIBUR

The issuer is solely responsible for the content of this announcement.

For Editors:

SIBUR is Russia’s largest integrated petrochemical company and one of the fastest growing global petrochemical players, with approximately 50,000 employees. The Company’s unique vertically integrated business model enables it to deliver highly competitive products used in the consumer goods and automotive industries, as well as construction, energy, chemistry and other industries across 100 countries.

SIBUR helps to reduce CO2 emissions stemming from the burning of oil and gas extraction by-products by processing them into valuable petrochemical products.

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