Russian petrochem firm Sibur has completed its first deal to sell carbon offsets produced as part of a climate project at ZapSibNeftekhim. The deal helped Qiwi, a provider of new generation payment and financial services, fully offset its 2022 greenhouse gas (GHG) emissions (Scope 1 and 2).
The sale and redemption of carbon units was carried out using the Green digital platform based on blockchain technology, which ensures a high level of data transparency, traceability and immutability throughout the climate project life cycle.
ZapSibNeftekhim’s climate project meets ISO 14064-2:2019 as confirmed by Verico SCE, Europe’s leading validation and verification body. The carbon units gained under the project are put on the distributed ledger and made available to buyers worldwide, enabling businesses and individuals to offset their carbon footprint.
Mikhail Karisalov, CEO/Chairman of the Management Board of Sibur, said: “The first carbon offset deal is a major step for both Sibur and the market. Having worked our way from the implementation and international certification of our technological climate project to closing a blockchain sale with maximum transparency, we gained invaluable experience and are all set for taking this initiative further.”
Sibur’s climate goals are reflected in its 2025 Sustainable Development Strategy. To achieve them, the company implements a wide range of decarbonisation measures, which are regularly updated. In 2022, it reduced specific GHG emissions in Gas Processing and Petrochemicals by 20% and 5% respectively, and increased the share of green energy in its energy mix sixfold vs 2021. It obtained international certification of the climate project at ZapSibNeftekhim confirming the reduction of GHG emissions totalling some 3 million tonnes of CO2 eq. The climate project implemented at Sibur-Khimprom in Perm is the company’s first project to be included in the Russian Registry of Carbon Units.