Vision and Commitments

It is our commitment to sustainable development that CNOOC Limited will develop existing natural resources in a safe, efficient, and environmentally friendly manner and provide society with clean, reliable and stable energy that meets reasonable energy demand. The economy, environment, and society form the three cornerstones for us to unfold our businesses in energy resource development and value creation. As our business and economic contributions grow steadily, we will press ahead on the road of environmental protection and social progress. Continued efforts will be made in integrating economic, environmental and social factors to drive the sustainable development of the Company.

The Board of Directors (the “Board”) of CNOOC Limited actively supports the Company’s commitment to CSR and keenly monitors its progress. Topics of interest cover company strategy and risk, performance, internal operations, occupational health and safety, the environment, and human rights, as well as the procedures and results of compliance in operations and sales. Our management is responsible for formulating and executing CSR related strategies and environmental protection, energy-saving projects, emissions reduction, ecological protection, greenhouse gas (GHG) reduction and clean energy supplies have been effectively incorporated into the scope.

The Company has incorporated sustainable development into our organizational structure, institutional system and management process. We constantly assess our performance in terms of sustainability and make improvements to ensure our operations are environmentally friendly, efficient and safe, and achieve balanced development for the economy, environment and society.

Communications with Stakeholders

Deep understanding of our stakeholders’ expectations serves as the bedrock for CNOOC Limited to fulfill corporate social responsibility and achieve sustainable development. We maintain open, transparent and multichannel communications with stakeholders on a variety of social responsibility issues. The Company’s stakeholders primarily include: shareholders and creditors, employees and employee organizations, governments and regulatory authorities, business partners and service providers, the public and communities, charities and non-government organizations (NGOs) and clients.

ESG Management

CNOOC Limited attaches much importance to ESG management and has incorporated ESG management into corporate governance. The Board is the highest decision-making body for ESG matters, the primary functions performed by the Board include taking overall responsibility for the Company's strategy and reporting on ESG, evaluating and determining ESG-related risks, and ensuring appropriate and effective ESG risk management and internal control systems are in place.

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