Potential offtaker

China Petroleum & Chemical Corporation

www.sinopecgroup.com

Estimated electricity consumption

N/A

Countries of production presence

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China Petroleum & Chemical-H, also known as Sinopec, is a Chinese oil and gas company that operates in the Integrated Oils sector. The company was founded in 2000 and is headquartered in Beijing, China. It is one of the largest oil and gas companies in the world, with operations in over 30 countries and regions.

Decarbonisation is a key priority for China Petroleum & Chemical-H. The company is committed to reducing its carbon footprint and transitioning to a low-carbon economy. To achieve this goal, Sinopec has invested heavily in renewable energy and clean technologies. The company has set a target of reducing its carbon emissions by 30% by 2025.

Corporate energy is another area of focus for Sinopec. The company is committed to improving the efficiency of its operations and reducing its energy consumption. To achieve this goal, Sinopec has implemented a number of energy-saving measures, such as upgrading its equipment and facilities, and improving its production processes. The company has also invested in renewable energy projects, such as wind and solar power, to reduce its reliance on fossil fuels.

Corporate power purchase agreements (PPAs) are an important tool for Sinopec to achieve its renewable energy goals. A corporate PPA is a contract between a company and a renewable energy provider, in which the company agrees to purchase a certain amount of renewable energy at a fixed price over a specified period of time. Sinopec has signed several corporate PPAs with renewable energy providers in China, which will help the company to meet its renewable energy targets and reduce its carbon footprint.

Renewable energy is a key area of focus for Sinopec. The company has invested in a number of renewable energy projects, including wind, solar, and biomass. Sinopec has also developed its own renewable energy technologies, such as biofuels and hydrogen fuel cells. The company is committed to increasing its renewable energy capacity and reducing its reliance on fossil fuels.

In addition to its focus on decarbonisation and renewable energy, Sinopec is also committed to sustainable development. The company has implemented a number of initiatives to reduce its environmental impact and promote social responsibility. Sinopec has established a comprehensive environmental management system, which includes measures to reduce waste, conserve resources, and protect biodiversity. The company also supports community development projects, such as education and healthcare programs, to improve the well-being of local communities.

Sinopec has also been recognized for its efforts to promote sustainability. The company has been included in the Dow Jones Sustainability Index for the past 11 years, and has been named one of the world's most sustainable companies by Corporate Knights.

In conclusion, China Petroleum & Chemical-H is a leading oil and gas company that is committed to decarbonisation, corporate energy, corporate PPAs, and renewable energy. The company has set ambitious targets to reduce its carbon footprint and increase its renewable energy capacity, and has implemented a number of initiatives to promote sustainability and social responsibility. Sinopec's focus on renewable energy and clean technologies will help to drive the transition to a low-carbon economy, and position the company as a leader in the energy sector.

✓ Climate Action 100+ company
✓ Declared Net Zero commitment