Recently, Sinopec Carbon Industry Technology Co., Ltd. had its UER (Upstream Emission Reductions) project approved by the German Environment Agency, which allows SINOPEC for the first time to secure greenhouse gas quota for carbon trading in Germany.

UERs are greenhouse gas emission reductions that take place before the raw materials for petrol, diesel and LPG fuels enter a refinery or storage facility. The UERs can be offset against GHG quota to generate economic value.

As China's first business player operating across the entire carbon industry chain, the company is positioned to maximize the value of carbon assets and earn GHG quota and carbon credits for carbon trading in Germany.