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Addressing climate change

 

Sinopec Corp. implements the green and low-carbon development strategy, proactively tackles climate change issues, and persists in integrated management in energy conservation, emission reduction and carbonreduction. With these efforts, we strive to promote clean production, protect the environment, and build an environment-friendly enterprise.

 

A global consensus has been reached on addressing climate change. The international, national and regional laws and regulations that stipulate greenhouse gas emission limits and the possibility of more strict rules in future will probably affect the global needs for fossil fuels, increase capital expenditure and affect profitability and strategic growth in the future. Meanwhile, extreme weather caused by climate change such as typhoon, hurricane or flood as well as sea level rise or drought may cause direct assets loss to corporate production and operation; supply chain disruptions triggered by climate change may exert indirect impacts.

 

The development of human society is closely related to energy supply. Without technological breakthrough, renewable energy cannot become the dominant and affordable energy; so fossil fuels will remain dominate in energy supply. As an energy and materials supplier, on one hand, Sinopec Corp. is dedicated to the development of main businesses, providing clean, high quality and affordable energy and petrochemical products, and also pays high attention to climate change risks. Every year, the environmental management and protection department evaluates climate change risks, includes the risk list into the internal control manual, analyses the methods of greenhouse gas emission reduction, and proposes specific solutions.