Sinopec Releases 2021 CSR Report, Underlines Clean Energy, Sustainability and Sharing Fruits of Development with Society

China Petroleum & Chemical Corporation’s (HKG: 0386, “Sinopec”) has released its 2021 Corporate Responsibility Report lately, highlighting its clean energy development with 104 of its subsidiaries recognized as Green Enterprise and an annual carbon emission reduction of 2.38 million tons.

“Sinopec fulfills our responsibility as a global corporate citizen. We align with the development trend of economic globalization and China’s opening up, serving the ‘Belt and Road’ initiative and giving full play to oil and gas exploration and development, petroleum and petrochemical engineering services, chemical products, equipment and materials trade, warehousing investment and more to promote mutually beneficial cooperation with many countries and regions to serve the sustainable development of the global economy and society,” said Ma Yongsheng, President of Sinopec.

Sinopec’s steady development of clean energy is anchored in building the “No.1 hydrogen energy company in China”, its annual hydrogen production capacity has exceeded 3.5 million tons, which accounted for 14 percent of the national total. Sinopec’s Fuling shale gas field has an accumulative gas production of 45.4 billion cubic meters, and the company’s geothermal heating capacity is now more than 80 million square meters.

Sinopec is also striving to become a practitioner of environmental protection, a driver of ecological civilization, and a constructor of a beautiful China with active carbon footprint research and continuous participation in carbon trading. In 2021, it has recorded 9.7 million tons in carbon trading volume with transaction value of 414 million yuan (US$ 61 million), and innovatively established the “Niukouyu Wetland “garden factory and “Egret Garden” green factory.

In supporting rural revitalization, Sinopec has offered partner assistance to promote sustainable development in eight counties and 616 villages, investing a total of 192 million yuan (US$ 28.29 million) with 940 personnel stationed in the villages.

To date, Sinopec’s Lifeline Express program has assisted over 50,000 cataract patients, while its Drivers’ Home program has established 2,178 homes for truck drivers and 3,520 “care stations”. Sinopec is also actively engaged in poverty alleviation and invested a total of 192 million yuan (US$ 28.29 million) in 2021 to support poverty-stricken areas.

For more information, please visit Sinopec.

SOURCE: SINOPEC