Jay Mariappan Joins PetroChina as Head of Renewables and Carbon

Jay Mariyappan has left Evolution Environmental Asset Management (EEAM) in the United States after nearly two years to join PetroChina International as its head of carbon and renewables. Mariyappan, a clean energy industry veteran, joined the global commodities trading arm of PetroChina, Asia's largest oil and gas producer, at the end of July. His role will be "to lead its origination in carbon and renewables and manage its carbon business in Asia Pacific," according to Mariyappan.

Mariyappan will be assisting in the expansion of the company's existing carbon business in the voluntary markets space, as well as the compliance and renewables markets in this region. The carbon business of PetroChina International began a few years ago with compliance markets and some voluntary transactions for products and customers.

The newly created role will support PetroChina’s aim to peak its carbon emissions by around 2025 and reach “near zero” emissions by 2050.

In 2020, the state-backed oil company announced its "near zero" target for its own operations by 2050 – the first publicly confirmed near net-zero goal by an Asian national oil company. It has yet to commit to a net-zero energy goal for the products it sells.

Dai Houliang, chairman of PetroChina, stated that the company is on track to have renewables account for 7% of its energy portfolio by 2025. The company intends to increase this proportion to one-third of its energy portfolio by 2035, and to 50% by 2050.

Mariyappan will remain based in Singapore, one of PetroChina International's three international trading hubs, along with London and Houston.