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China Petroleum and Chemical Corporation Limited (Sinopec)

China Petroleum & Chemical Corporation (Sinopec) is a publicly listed integrated oil and gas company headquartered in China, with majority state ownership. In 2019, it had USD 424.52 billion in revenue and a reported 582,648 employees in 2020*. Sinopec is one of the largest integrated energy and chemical companies in China with the largest refining capacity. Sinopec lacks a clear low-carbon transition plan.

Ranking position
#54/100
Total score
4.8/100
Performance score
2.0/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

0.0 /100 #38

Material Investment

8.4 /100 #39

Intangible Investment

0.0 /100 #20

Sold products

2.1 /100 #42

Management

31.3 /100 #49

Supplier Engagement

0.0 /100 #57

Client Engagement

21.3 /100 #18

Policy Engagement

10.0 /100 #69

Business Model

25.0 /100 #10

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

Sinopec receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. The company does not have an emissions reduction target beyond 2023. Although the company has started seeking profitable activities in solar energy, hydrogen production, bioenergy, and battery charging and changing stations, it still needs to make significant changes to its sold product portfolio to ready itself for the low-carbon transition.
With no clear low-carbon business model and strategy, and no long-term emissions reduction target, the company is not on track to achieve the low-carbon transition aligned with its 1.5°C pathway.

Progress towards the Paris Agreement

More about the company

Headquarters
Beijing, China
Group revenue
RMB 2966.19 billion (USD 424.52 billion)
Ownership structure
Publicly listed with majority owned by governement
Number of employees
582,648
Scope of activity
Integrated
Website
http://www.sinopec.com/listco/En/