A Study on the Low-Carbon Transformation Path of Sinopec Group Based on ESG Principles

Abstract

This study examines the low-carbon transformation path of the petrochemical industry based on Environmental, Social, and Governance (ESG) principles, taking China Petrochemical Corporation (Sinopec Group) as a case study. The research first analyzes the year-on-year carbon emissions of the petrochemical industry. Subsequently, addressing the deficiencies in Sinopec Group’s low-carbon transformation path, a series of recommendations are proposed: in terms of information disclosure, the study advocates for improvements in ESG reporting and transparency to enhance corporate governance and social impact. In the strategic aspect, the research suggests that Sinopec Group actively promotes sustainable procurement and green supply chain development, collaborating with partners to drive low-carbon transformation. This study aims to identify shortcomings and provide recommendations for the current low-carbon transformation path of China Petrochemical Corporation, serving as a reference for Sinopec Group and other enterprises within the industry.