Sinopec Plans To Achieve Carbon Neutrality 10 Years Ahead Of China's Target

(RTTNews) - China Petroleum And Chemical Corp. (SNPMF.OB, SNP) said, as China is proposing to reach peak carbon emissions by 2030 and carbon neutrality targets by 2060, the company will march towards net zero emissions to ensure reaching peak carbon emissions before the targeted year, and achieve carbon neutrality 10 years in advance. The company will make hydrogen energy the main goal of its new energy businesses. In the next five years, Sinopec plans to construct 1,000 hydrogen or oil-hydrogen refueling stations.

Sinopec announced its 2020 turnover and other operating income of $321.22 billion and profit attributable to shareholders of $5.04 billion.

For the first quarter, the company projects net profit attributable to shareholders of the parent company in a range of $2.43-$2.74 billion.