China Petroleum & Chemical Corporation
China Petroleum & Chemical Corporation, commonly known as Sinopec, is a leading player in the global energy sector, headquartered in Beijing, CN. Founded in 2000, Sinopec has rapidly established itself as one of the largest oil and gas companies in the world, with extensive operations across Asia, Africa, and beyond. Sinopec operates primarily in the petroleum and petrochemical industries, focusing on refining, exploration, and production. The company is renowned for its diverse range of core products, including fuels, lubricants, and chemical materials, which are distinguished by their high quality and innovative production methods. With a strong market position, Sinopec has achieved significant milestones, including being consistently ranked among the Fortune Global 500. Its commitment to sustainable practices and technological advancement further solidifies its reputation as a leader in the energy sector.
DitchCarbon Score
How does China Petroleum & Chemical Corporation's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Motor Vehicle Retail Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
China Petroleum & Chemical Corporation's score of 38 is higher than 97% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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China Petroleum & Chemical Corporation's reported carbon emissions
In 2023, China Petroleum & Chemical Corporation (Sinopec) reported total carbon emissions of approximately 137,720 kg CO2e for Scope 1, 20,360 kg CO2e for Scope 2, and 146,700 kg CO2e for Scope 3 emissions. This reflects a slight increase in emissions compared to 2022, where Scope 1 emissions were about 161,790 kg CO2e, Scope 2 emissions were approximately 24,070 kg CO2e, and Scope 3 emissions were around 139,820 kg CO2e. Sinopec's emissions intensity for 2023 was reported at 0.17256 CNY per unit of revenue, indicating a focus on integrating emissions management into their financial performance. Despite these figures, there are currently no disclosed reduction targets or climate pledges from the company, which suggests a need for more robust commitments to address climate change and reduce their carbon footprint in line with industry standards. Overall, while Sinopec has made strides in emissions reporting, the absence of specific reduction initiatives highlights an opportunity for the company to enhance its climate strategy and align with global sustainability goals.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 161,790 | 000,000 |
| Scope 2 | 24,070 | 00,000 |
| Scope 3 | 139,820 | 000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
China Petroleum & Chemical Corporation is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
