On July 11, more than 90 representatives from 12 countries convened in Beijing for the members assembly and inauguration ceremony of the International CCUS (Carbon Capture, Utilization and Storage) Technology Innovation & Cooperation Organization (ICTO). The organization was initiated by Sinopec with guidance from the China Association for Science and Technology. ICTO includes 50 members such as enterprises, industry organizations, research institutions, experts, and academicians. It has established a collaboration network for CCUS with global influence.
HOU Qijun, Chairman of Sinopec, stated that Sinopec would work to build an industry ecosystem based on mutual trust and cooperation for mutual benefit and win-win outcomes to promote the rapid development of the global CCUS industry.