Strengthening Sustainable Advantages to Accelerate High-quality Development and Achieve "Dual Carbon" Goals

BEIJING, Jan. 16, 2023 /PRNewswire/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") published the "The Sinopec Green and Low-carbon Development White Paper 2022" (the "White Paper") on January 13, highlighting its vision and practices across the scopes of a strategic roadmap, institutional mechanism, clean energy initiatives and the economical utilization of resources.

Sinopec was the first Chinese company to publish a "Environmental Protection White Paper" in 2012, which pledged to promote green and low carbon development. Over the last decade, Sinopec has carried out initiatives to improve energy efficiency, build sustainable operations, and contribute to the ecological conservation of the Yangtze River and Yellow River basins. Sinopec has also released an action plan to reach carbon peak emissions by 2030 and been named a "China Low-Carbon Model" for 12 consecutive years.

"The White Paper reflects Sinopec's endeavors in advancing green and low-carbon development. It will be the new starting point to anchor our strategies in balancing the development and emission reduction agendas of both short and long term initiatives, coordinate carbon and pollution reduction, green transformation and growth to accelerate green and low-carbon development, strengthen green competitive advantages and make significant contributions to the low-carbon transformation of China's energy and chemical industry and achieve the 'Dual Carbon' goals," said Zhao Dong, President of Sinopec.

Sinopec is strategizing an industrial layout to develop clean, low-carbon, safe and efficient energy, establish a green and low-carbon vision to promote efficient energy resource recycling, and pursue a roadmap to achieve scaled clean and low-carbon energy production, energy conservation and emission reduction in reaching net-zero targets.

The company's full-on "Dual Carbon" actions continue to reduce carbon emission and lower carbon intensity, with strengthened control of methane emission across the industry chain. Sinopec have also pursued carbon asset management and the product carbon footprint in-depth and established the first carbon whole industrial chain tech company in China.

The clean production initiatives of Sinopec have greatly improved the utilization efficiency of energy, water and land resources – a total of 4,469 energy efficiency improvement projects have saved 7.49 million tons of standard coal, and by end of 2021, the Fuling shale gas field had conserved over 40 hectares of land, the equivalent of 56 football fields.

For more information, please visit Sinopec.