Sinopec
Expected impact on maritime operations is negligible
In September 2020, the Chinese government announced the goal “to peak carbon emissions by 2030 and achieve carbon neutrality by 2060”. For its part, in March 2021, Sinopec set a goal of achieving “net zero by 2050” and peak emissions before the national peak target in 2030 (based on the disclosed emissions, this would exclude Scope 3). SinoPec near-term strategy is focused on natural gas development and a long-term pivot to hydrogen is planned.
Sinopec’s Sustainability Report could not be accessed, therefore proxy reports (Climate Accounting Project) were used. They claim that Sinopec appears to be at an early stage in its thinking on climate change and does not yet have a climate strategy. It is possible that Sinopec is preparing a more concrete climate strategy, stating that “In the future, Sinopec Corporation will formulate its carbon peaking and carbon neutral strategy, targets, road map, as well as a detailed action plan”.
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Sustainability Report
About Company
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No shore power projects have been identified.
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Frequently Asked Questions
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