Lucid waters and lush mountains are invaluable assets. As China actively promote ecological protection, green economy has become an important support for building a modern economy system and achieving high-quality economic growth. As one of the largest integrated energy and chemical enterprises in China, Sinopec Corp. has been implementing the low-carbon green development strategy. The "Clear Water and Blue Sky" environmental protection campaign implemented during the period from 2014 to 2016 carried out 870 projects, with a total investment of RMB 20.92 billion. On this basis, we launched the Green Enterprise Campaign in 2018. The Campaign adopts the vision of "contributing to clean energy, practising green development", advocates to supply clean energy and green products, enhances green production and leads green development of the industry. We have formulated the Sinopec Green Enterprise Evaluation Guideline and established the specific working group. By the end of 2018, 10 subsidiaries were awarded as Sinopec Green Enterprises.
In 2019, the Company further implemented the Green Enterprise Campaign, and continued to promote the establishing of green enterprises at itssubsidiaries according to the Sinopec Green Enterprise Evaluation Guideline. In 2019, ten subsidiaries awarded as Green Enterprise last year were reviewed, and another 27 were newly awarded as Green Enterprise, together accounting for over 40% of the Green Enterprise Campaign target. The Company plans to turn 50% of its subsidiaries into Green Enterprise by 2020, and 100% by 2023. Please refer to the company's sustainability progress report for details.
The company's "green enterprise action plan" sets carbon emissions-related targets by 2023:
|CO2 Reduction||CO2 Capture||CO2 Storage||Methane Recovery|
|12.60 miilion tonnes||500 thousand tonnes||300 thousand tonnes/year||200 million tonnes/year|
In July 2019, the Company became the first mainland Chinese company to join the AEPW and served as a member of its board of directors. Founded in January 2019, AEPW is a non-profit initiative made up of various international energy and chemical enterprises. The mission of the AEPW is to end plastic waste in environment and prevent deteriorating marine pollution through jointly efforts by chemical and plastics producers, consumer goods retailers and companies in waste management value chain.
The Company had signed the relevant memorandums and commitment letters, participated in network conferences and working group meetings, and prepared action plans. The Company plans to invest USD25 million to reduce plastic waste over the next five years, playing an active role in promoting the development of the plastic circular economy.