Sinopec Earns Prestigious Award at Sino-European ESG Best Practices Conference
Sinopec Earns Prestigious Award at Sino-European ESG Best Practices Conference
On June 26, 2025, the China Petroleum and Chemical Corporation, commonly known as Sinopec, clinched the award for the 'Best Scientific and Technological Innovation Practice' during the 2nd Sino-European Corporate ESG (Environmental, Social, and Governance) Best Practice Conference held in Stuttgart, Germany. Sinopec's entry, titled 'Deep Progress, Reaching New Heights: Empowering the Energy and Chemical Industry through Technological Innovation,' was recognized amidst fierce competition from numerous participants.
The conference serves as a platform to evaluate and honor leading ESG practices across six critical areas: environmental protection, social responsibility, corporate governance, scientific and technological innovation, education, and training. The aim is to foster mutual understanding between Chinese and European firms, promote bilateral economic and trade exchanges, and showcase China's open and inclusive mindset to European society.
During the event, the jury emphasized Sinopec’s commitment to leveraging technological innovation as a powerful driver on its path toward carbon neutrality. They stated, 'By focusing on strategic areas such as oil and gas exploration and development, along with green and low-carbon transformation, Sinopec is steadfastly pushing for sustainable, intelligent, and high-end development.'
Boasting integrated innovation capabilities that span the entire industrial chain, Sinopec is actively expanding clean energy solutions and decarbonization initiatives within its production processes. One of the standout projects, labeled 'Deep Earth', is regarded as the 'subterranean Everest' for its ability to access and release deep reserves of oil and gas, illuminating a greener future for our planet.
In its expeditions for shale gas, Sinopec has pioneered the 'Fuling Shale Gas Field,' recognized as the first commercially developed shale gas area in China, containing reserves that reach hundreds of billions of cubic meters. To advance green and low-carbon technology, the company established China's first megaton carbon capture, utilization, and storage (CCUS) project and the world's inaugural 100-kilometer CO₂ transmission pipeline. Sinopec collaborates with significant partners like Shell, China Baowu, and BASF to launch a joint study on the first open-access CCUS project targeting 10 million tons, setting a pathway for decarbonization that emphasizes emissions reduction and carbon sequestration.
Fueled by continuous innovation, Sinopec has achieved groundbreaking advancements such as the world’s first ethylene intelligent plant that utilizes digital twin technology, which became operational in 2024. Moreover, Sinopec's AI digital worker is currently employed in over 40 integrated power plants, enhancing customer service with smart solutions.
At the conference, Sinopec also unveiled its report, 'Global Energy Outlook 2060', marking the first publication concerning the energy and chemical industry’s development for the European audience. This initiative underscores Sinopec's commitment to transparency and collaboration in fostering a sustainable future.
The recognition at the Sino-European Conference signifies not only Sinopec's dedication to innovating sustainably but also its role as a leader in the transition towards a low-carbon economy, potentially influencing industry standards and practices on a global scale.