OGCI China Climate Investments launched

Today, OGCI Climate Investments (OGCI CI) alongside its partners China National Petroleum Corporation (CNPC) and Hainan Free Trade Zone Development Equity Investment Fund Partnership (Hainan FTZ Fund), launched the OGCI China Climate Investments fund.

CCI will follow the successful model deployed by OGCI CI’s first vintage international fund, focusing on driving near-term GHG impact across methane emissions reduction, carbon dioxide emissions reduction and recycling or storage of carbon dioxide. CCI will also support the development, demonstration, and rapid expansion of these technologies and projects into real-world applications.

“The launch of China Climate Investments is an exciting moment for everyone involved with OGCI CI. This new fund, following in the footsteps of our current fund, will expand our impact by accelerating the implementation of low carbon solutions in China,” said Dr. Pratima Rangarajan, CEO of OGCI Climate Investments. “Decarbonizing the vast array of goods and services that China produces is critical to the climate journey. We look forward to collaborating with our partners CNPC and Hainan FTZ Fund to harness China’s talent and resources to deliver near-term GHG impact.”

Mr. Zhou Aiguo, CNPC Chief QHSE-Technology Expert, said: “The CCI fund is established on the principles of innovation, capital operation and commercialization, with the aspiration to accelerate the commercialization of low-carbon, zero-carbon and negative-carbon technologies through efficient capital operation. By striving to build an open and inclusive innovative platform, CCI will be able to contribute actively to the response against climate change”.

His comments were echoed by, Hainan FTZ Fund representative, Mr Jiang Xiongbiao: “Leveraging the policy advantages of the ‘Hainan Clean Island National Strategy’, Hainan’s status as a Free Trade Port and the deep support of all stakeholders, the OGCI CCI fund, a joint venture between various parties, is intended to yield fruitful results, demonstrate sound ESG practice, and make positive contributions to the achievement of carbon neutrality targets.”

China Oil and Gas Climate Investments Chairman, Mr Yu Jingqi further commented: “As the fund manager and general partner of CCI, we are committed to investing in technologies, seeking out innovation and commercialization models that focus on GHG impact, whilst simultaneously supporting China and Hainan Province’s carbon peaking and carbon neutrality goals.”

Shareholders in China Oil and Gas Climate Investments, the general partner of OGCI CCI, include CNPCAM, Hainan Development Holdings Co. Ltd, and Tianjin Climate Exchange Co. Ltd.