China Petroleum and Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai.
Carbon Capture Utilization and Storage (CCUS)
- Role and Importance: Sinopec identifies CCUS as a vital technology for mitigating climate change by capturing and storing CO2 emissions from industrial processes.
- Investments and Developments: Sinopec has invested in several CCUS projects, enhancing its capabilities to capture and store carbon effectively and reduce overall emissions.
- Technological Collaboration: The company collaborates with global partners and research institutions to advance CCUS technologies and implement them on a large scale.
Sustainability and Green Initiatives
- Emission Reduction Goals: Sinopec aims to achieve carbon neutrality by 2050 and has set interim targets to reduce carbon emissions intensity by 20% by 2030.
- Greenhouse Gas Regulations and Policies: The company supports robust regulatory frameworks and policies that drive sustainability and emissions reductions, aligning with international climate agreements.
- Energy Transition Strategy: Sinopec is expanding its investment in renewable energy sources, including solar and wind power, and focusing on energy efficiency improvements in its operations.
Key Takeaways
- Sinopec is dedicated to achieving carbon neutrality by 2050 through strategic investments in CCUS, renewable energy, and energy efficiency measures.
- The company is actively working to lower its carbon footprint and support global climate change mitigation efforts.
- Collaboration with industry partners, governments, and research institutions is central to Sinopec's sustainability strategy.
Website:
http://www.sinopecgroup.com/group/en/
10-K Report:
N/A
Sustainability Report:
http://www.sinopec.com/listco/en/Resource/Pdf/2024032402.pdf
