GlobalData offers a comprehensive analysis of China Petroleum & Chemical, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on China Petroleum & Chemical’s ESG performance. GlobalData’s company profile on China Petroleum & Chemical offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
China Petroleum & Chemical (Sinopec Corp) is committed to reducing its GHG emissions as part of its sustainability efforts. In 2022, the company reported Scope 1 emissions of 137.72 million tonnes CO2-equivalent, and Scope 2 emissions of 24.07 million tonnes CO2-equivalent, while its GHG emissions intensity was 48.76 cubic metre/RMB million. The company recovered 1.534 million tonnes of carbon dioxide. The company successfully executed new energy projects, resulting in the conservation of 550,000 tonnes of standard coal energy. This accomplishment translates to a substantial reduction of 1.44 million tonnes in carbon dioxide emissions.
Sinopec Corp is actively working towards achieving specific goals by the year 2023. These objectives include a reduction of 12.6 million tonnes in carbon dioxide emissions, an annual capture and storage of 0.3 million tonnes of carbon dioxide, the development of annual capabilities to capture an additional 0.5 million tonnes of carbon dioxide, and the recovery and utilization of 200 million cubic meters of methane each year.
To reduce emissions, Sinopec Corp has implemented robust commitments, strategies, and policies in the area of environmental stewardship. It has effective management systems in place to integrate environmental principles and monitors and evaluates its environmental stewardship efforts. The company has achieved key outcomes in terms of environmental principle integration.
In conclusion, Sinopec Corp stands firmly committed to addressing climate change and mitigating its emissions. Through the implementation of various strategies and policies, the company has achieved positive outcomes in terms of environmental stewardship and safety. As it continues its endeavors, Sinopec Corp is actively working towards making further advancements in reducing its carbon and greenhouse gas emissions.