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.
-2 vs industry average
China Petroleum & Chemical Corporation’s score of 35 is higher than 59% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Motor Vehicle Retail Services has below-average carbon intensity
Industry performance
The Motor Vehicle Retail Services industry has reduced its overall emissions by 30% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
China Petroleum & Chemical Corporation's reported carbon emissions
In 2024, China Petroleum & Chemical Corporation (Sinopec) reported total carbon emissions of approximately 168.6 billion kg CO2e, comprising 142.3 billion kg CO2e from Scope 1 and 26.4 billion kg CO2e from Scope 2 emissions. The company has not disclosed Scope 3 emissions data. Sinopec has set ambitious climate commitments, including a target to reduce carbon dioxide emissions by 12.6 million tonnes by 2023 as part of its Green Enterprise Campaign initiated in 2018. This reduction target applies to both Scope 1 and Scope 2 emissions. Furthermore, Sinopec is committed to achieving carbon neutrality by 2050, which encompasses long-term strategies for both Scope 1 and Scope 2 emissions. The emissions data and reduction initiatives reflect Sinopec's ongoing efforts to address climate change and align with global sustainability goals.
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China Petroleum & Chemical Corporation’s Climate Goals (2030 & 2050)
4 goals2050
Sinopec Corp
Sinopec Corp. is committed to achieving carbon neutrality by 2050.
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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China Petroleum & Chemical Corporation
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