Sustainability
Sustainable Supply Chain
Sinopec Corp. attaches great importance to supply chain management, and strives to adhere to the concepts of sunshine procurement and green procurement and actively integrate ESG concepts and requirements into the management system of suppliers and contractors. The Company is committed to continuously optimising supply chain management, safeguarding supply chain security, aiming at building a transparent, healthy, and honest ecosystem with supply chain partners through opening-up and strategic cooperation.
The Company regularly optimises its supply chain management, making continuous efforts to strengthen supply chain management system and capabilities in accordance to the principles of ensuring "secure, timely, green, and economical" supply, and taking full considerations of ESG factors, such as energy consumption and environmental performance.
The Company has formulated a series of management policies, such as the Sinopec Material Supply Management Regulations, the Sinopec Green Procurement Management Measures, and the Sinopec Key Material Supply Security Supervision and Management Measures, forming a scientific, standardised, and comprehensive procurement and supply chain management system. The Company also cooperates with suppliers extensively on accelerating the digital transformation of the supply chain, continuously enhancing the strategic support, resource assurance, value creation, risk management capability, and security resilience of its supply chain.
In 2024, the Company completed a comprehensive revision of its supplier qualification review standards, further strengthening the management factors related to HSE management, green product standards, and the fulfilment of social responsibilities of suppliers in the qualification review standards and on-site review standards, encouraging suppliers to comprehensively enhance their ESG capabilities. The Company also completed the revision of the qualification review standards and on-site review standards for 318 group procurement material suppliers, further standardising the requirements on suppliers' HSE management, and conducted reviews of the implementation and performance of suppliers' safety management, environmental protection, and occupational health protection initiatives.
