Sinopec has been recognized with the "Best Practice for Technological Innovation" award at the 2nd Sino-European Corporate ESG Best Practice Conference held on June 26 in Stuttgart. The company's submission, titled "Breakthrough in Depth, Climb to New Heights — Empowering the Energy and Chemical Industry with Technological Innovation," distinguished itself among numerous entries.
The Conference aims to evaluate and reward exemplary ESG application cases across six areas: environmental protection, social responsibility, corporate management, scientific and technological innovation, education, and training. It seeks to enhance understanding between Chinese and European businesses, promote bilateral economic exchanges, and highlight China's open mindset to European society.
“Sinopec has harnessed technological innovation as a powerful engine in its journey toward carbon peaking and carbon neutrality,” stated the jury panel. “By focusing on strategic areas such as oil and gas exploration and development as well as green and low-carbon transformation, the company is vigorously advancing high-end, intelligent, and green development.”
Sinopec is expanding clean energy solutions through its integrated innovation capabilities. Its Project Deep Earth aims to access ultra-deep oil and gas reserves. In shale gas exploration, Sinopec’s Fuling Shale Gas Field stands out as China’s first commercial development with substantial reserves.
In efforts towards green technology, Sinopec constructed China's first megaton CCUS project along with a significant CO₂ transmission pipeline. Collaborating with Shell, China Baowu, and BASF, they are exploring a large-scale CCUS project focusing on emission reduction alongside carbon sequestration.
Innovation drives Sinopec's advancements in intelligent transformation. In 2024, it launched the world’s first intelligent ethylene plant utilizing digital twin technology. Additionally, AI digital employees are operational at over 40 energy stations providing smart services.
At the Conference event, Sinopec also presented its "World Energy Outlook 2060" report—its inaugural energy industry report released in Europe.