Yanchang Petroleum International Limited (Yanchang Petro) has published its Environmental, Social and Governance Report for the 2025 fiscal year, outlining board-level oversight of climate strategy, near-term carbon-reduction goals and key environmental metrics for its Canadian upstream arm Novus Energy and mainland subsidiary Henan Yanchang Petroleum Sales.
Governance and Risk Framework • The board has assumed direct responsibility for ESG and climate oversight, supported by a dedicated working group that aligns practices with Hong Kong Stock Exchange guidelines and IFRS S2. • Dual materiality assessments identified health & safety, product responsibility, labour standards, emissions and climate change as top priorities. • Scenario analyses based on IPCC SSP1-2.6 and SSP3-7.0 as well as IEA NZE and STEPS models evaluated transition and physical risks across 2030, 2050 and 2100 horizons. No material immediate financial impact was recorded for 2025, though the group will enhance quantitative modelling in future reports.
Emission Profile (2025) • Total GHG emissions: 1,047.81 tCO₂-e (Novus 532.14 t; Henan Yanchang 515.67 t). • Emission intensity: Novus 0.98 tCO₂-e per ’000 BOE; Henan Yanchang 0.13 tCO₂-e per ’000 tonne of product. • Scope 1 (direct) emissions: 194.96 tCO₂-e; Scope 2 (indirect) emissions: 852.86 tCO₂-e. • Energy consumption: Novus 4.06 million kWh, Henan Yanchang 0.94 million kWh. • Water usage: Henan Yanchang 10,437 m³ (4.40 m³ per ’000 tonnes); Novus relies on contractor-managed recycling systems.
Emission-Reduction Actions • Oil-and-gas recovery systems installed at Henan Yanchang depots achieved vapour recovery rates above 95%. • Novus advanced natural-gas pipeline projects and optimised power management at well sites, reducing flaring and standby electricity use. • Both units recycle wastewater; Novus attains “zero water consumption” at production sites via reuse of treated water. • Internal HSE audits ensure compliance with China’s twin-carbon goals and Canada’s TIER regulation; Novus purchased carbon credits, saving CAD 0.03 million in carbon taxes during H1 2025.
Targets and Future Plans • Five-year goal to cut GHG-emission intensity by 1% from the 2025 baseline (Novus 0.98 tCO₂-e/’000 BOE; Henan Yanchang 0.13 tCO₂-e/’000 t). • Ongoing assessment of carbon-capture and storage, expansion of low-emission natural-gas usage, and exploration of green supply-chain opportunities. • Implementation progress and quantitative financial impacts from climate scenarios to be disclosed in future reports as modelling capability matures.
Social & Governance Highlights • Workforce: 177 employees (62 China-based suppliers, 611 Canada-based); comprehensive policies ensure zero cases of child or forced labour. • Zero work-related fatalities in the past three years; no product recalls, significant environmental breaches or corruption cases in 2025. • Continuous employee development: average 33 hours of training per male employee and 22 hours per female at Novus; 16 hours and 14 hours respectively at Henan Yanchang.
Community Engagement • Novus maintained sponsorships for local sports teams in Saskatchewan; Henan Yanchang prioritised local hiring and vocational support.
Yanchang Petro plans to refine its ESG and climate governance, align with international disclosure standards and pursue incremental reductions in carbon intensity, reinforcing its commitment to a greener and more resilient operational model.
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