The inauguration of the Energy and Chemical Industry Chain Carbon Footprint Alliance in Beijing, China was announced by China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec”).

The initiative will see alliance members jointly establish a carbon footprint management system with an improved carbon footprint calculation mechanism by 2027. It allows sectors and China to accelerate the march towards a low-carbon future and is led by eight major Chinese companies in the energy and chemical sectors, including Sinopec, CNPC, and CNOOC. The alliance is committed to creating a high-quality open platform for sharing technical expertise and cooperation. The carbon footprint is the total of greenhouse gas emissions generated directly and indirectly by an individual, organization, product, or state during a given period of time.