The $1.2 trillion China Investment Corp. released an action plan for operational carbon neutrality, based on "global peer practices and a review of the carbon emissions in CIC's operations."
The plan aims to reduce carbon emissions, increase forestry and "strive to achieve the operational carbon neutrality goal as scheduled," said a statement published Tuesday.
The statement did not specify the schedule, but China has committed to reaching net-zero emissions by 2060, and peak emissions by 2030.
Last May, CIC released sustainable investing guidelines and goals to achieve carbon neutrality that included integrating climate risk management into its operations and investing in new opportunities that address climate change.
The Tuesday plan proposed 11 measures that target three main sources of emissions: electricity usage, data centers and products, and employee travel. CIC has purchased green electricity and green certificates, optimized office space management and educated employees on low-carbon habits in the office, the statement said.
The sovereign wealth fund has also reduced unnecessary printing and improved waste disposal and recycling efforts, it said.
To offset its carbon emissions, the wealth fund has launched an afforestation scheme — involving the planting of trees where there were previously none — along with other social responsibility measures that promote poverty alleviation and rural revitalization.
CIC will also explore avenues to develop local green industries and devote resources to reduce the scale and intensity of carbon emissions in its investment portfolio in phases, the statement said.
CIC did not immediately respond to a request for further details.