Wedoany.com Report-Sept. 12, Chinese oil major Sinopec announced on Wednesday the establishment of a specialized company in Guangzhou, southern China, dedicated to environmental governance. The new entity, Sinopec Environment Science and Technology Co, is funded by Sinopec Engineering Group and has a registered capital of 1 billion yuan ($140.40 million), according to a company statement.

The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023.

The statement outlined that the company’s main business covers environmental governance technology services, environmental engineering design, consulting, and implementation. It also includes pollution testing and monitoring, aimed at supporting the advancement of sustainable practices in the industry.

In addition to these areas, the company will provide services for dismantling petrochemical installations. This is intended to ensure safe and efficient removal of outdated facilities while minimizing environmental impact. The firm will also focus on resource recovery and utilization to improve recycling and support circular economy initiatives.

Sinopec highlighted that the creation of this new company represents a step in strengthening its environmental governance strategy. The initiative is aligned with the group’s broader efforts to integrate advanced technology into environmental protection and resource efficiency.

By concentrating on environmental technology and services, Sinopec aims to enhance the quality and scope of environmental solutions in sectors related to petrochemicals and energy. The company noted that the combination of engineering expertise and sustainability-focused services will provide a comprehensive approach to addressing environmental challenges.

The establishment of Sinopec Environment Science and Technology Co reflects the company’s commitment to developing innovative and practical solutions for pollution control, resource efficiency, and facility management. Market observers are expected to watch how the company advances its service offerings and integrates them into Sinopec’s overall business strategy.