China Petroleum & Chemical Corporation Sustainability Profile
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 36 is higher than 56% 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 2024, China Petroleum & Chemical Corporation (Sinopec) reported total carbon emissions of approximately 142,280,000,000 kg CO2e from Scope 1 and 26,360,000,000 kg CO2e from Scope 2, resulting in a combined total of about 168,640,000,000 kg CO2e. In 2023, the company emitted around 137,720,000,000 kg CO2e from Scope 1 and 24,070,000,000 kg CO2e from Scope 2, leading to a total of approximately 161,790,000,000 kg CO2e. Sinopec has set ambitious climate commitments, including a target to reduce carbon dioxide emissions by a cumulative total of 12.6 million tonnes (12,600,000,000 kg CO2e) by 2023 as part of its Green Enterprise Campaign initiated in 2018. The company is also committed to achieving carbon neutrality by 2050, addressing both Scope 1 and Scope 2 emissions in its long-term strategy. The emissions data is sourced directly from China Petroleum & Chemical Corporation, with no cascading from a parent or related organization. The company has not disclosed any Scope 3 emissions data.
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| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Scope 1 | 148,380,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 |
| Scope 2 | 24,180,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 3 | - | - | - | - |
How Carbon Intensive is China Petroleum & Chemical Corporation's Industry?
How Carbon Intensive is China Petroleum & Chemical Corporation's Location?
China Petroleum & Chemical Corporation's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
China Petroleum & Chemical Corporation has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
