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China Petroleum and Chemical Corporation Limited (Sinopec)

China Petroleum & Chemical Corporation (Sinopec) is a majority state-owned company headquartered in China. In 2022, its revenue was USD 460 billion and it employed 845,000 people in 76 countries. The company is involved in oil and gas exploration, development and production, refining and marketing petroleum products, manufacturing and marketing industrial chemical products, and coal businesses.

Summary

Sinopec ranks 95th overall and 49th in the Extractives sector. Its best performance is on human rights practices. It has an opportunity to improve on remedies and grievance mechanisms, where it scores zero.

The company has an opportunity to establish grievance mechanisms that are accessible for all workers and external communities to file complaints around negative human rights impacts and receive appropriate remedy. It also has an opportunity to disclose its due diligence process for identifying, assessing and mitigating its salient human rights risks.

The company could further improve on topics related to board level accountability, including disclosing how it assigns responsibility for human rights management and whether it has board level incentives and reviews its business model for human rights risks.

Ranking position: #95 /110
Total score: 4.8 /100

Measurement theme	Score	Rank (0-110)
Governance and policy commitments	#1 0.2 /10	#97
Embedding respect and human rights due diligence	#1 0.2 /25	#96
Remedies and grievance mechanisms	#1 0.0 /20	#102
Performance: Practices	#1 3.5 /25	#56
Performance: Responses	#1 1.0 /20	#89

Sector
Extractives	#49

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2020

This company is part of the SDG2000, the 2,000 most influential companies

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