SINOPEC Wins 2012 Global Compact China Best Practice – Leading Chinese Enterprises' Sustainable Development


The United Nations Global Compact Network China Annual Meeting is held on 28 November in Beijing. The meeting announces Global Compact China Best Practices and SINOPEC’s “Integrated 6-Dimensional Model of Improving CSR Management” and “Promoting Compliance in Operation by Modern Information Technology” are warded the title.

The purpose of this best practice selection is to summarize, communicate and promote the valuable experiences that the Global Compact Network China members have gained via practicing the Ten Principals and driving sustainable development. The 30 cases by SINOPEC and more than twenty other companies in the areas of corporate social responsibility, environmental protection, employee rights protection, compliance in operation and social development have been selected as best practices. The members choose to submit their own practices based on their companies’ unique characteristics and the Global Compact’s Ten Principals. The best practices are selected by a panel of experts based on their social impact and value as well as feasibility of practice, etc. and each company can have at most two cases selected. According to the “6-Dimensional Model”, Sinopec established a Social Responsibility Management Committee under the board of directors, becoming the first Chinese enterprise under the central government to have such practice. The committee oversees social responsibility performance evaluation and accountability, and has the veto power. According to the “Promoting Compliance” practice, more than 95% of Sinopec’s materials procurements were made via e-commerce, promoting open and transparent procurement process which can are filed and traced. According to the selection panel, the two cases from SINOPEC showcase the best practices in pursuing sustainable development, and have significant guidance, exemplary and promotion value.

UN Secretary-General Ban Ki-moon sends a congratulatory letter to the annual meeting. Mr. Wang Zhongyu, Vice Chairman of the 10th National Committee of the CPPCC and Chairman of CEC, Mr. Georg Kell, UN Global Compact Director General, Mr. Shao Ning, Vice Chairman of SASAC, Mr. Li Decheng, Council Member of UN Global Compact and Vice President of CEC, and Mr. Fu Chengyu, Council Member of UN Global Compact, Chairman of UN Global Compact Network China and Chairman of SINOPEC attend and address the meeting. Around 300 representatives from Chinese and foreign enterprises, industrial associations, research institutes, UN’s China branches and foreign missions in China also attend the meeting. The meeting’s theme is “Leading and Practicing – Sustainable Development for Chinese Enterprises under New Situation”. The participants exchange practice experiences for sustainable development, analyze the trend and challenges in the new age, and work out the new agenda and strategies for corporate sustainable development. Mr. Fu Chengyu, Chairman of SINOPEC delivers a keynote speech themed “The Sustainable Development Path for Global Compact Network China Members in the New Age”.

The Global Compact Network China was established on November 28, 2011 and Chairman Fu Chengyu was elected the first rotating President of the Network’s presidium. As the holder of the Network’s rotating presidency, SINOPEC has been pro-actively performing and leading the Global Compact’s practices in China over the past year. SINOPEC joined the UNGC Lead in January 2012 and “Caring for Climate Initiative” in May 2012. In the same month, Sinopec established a Social Responsibility Management Committee under the board of directors, becoming the first Chinese enterprise under the central government to have such practice. Chairman Fu Chengyu was awarded for Excellence in Implementing Environment and Development by the United Nations Environment Program in June 2012. During the UN Conference on Sustainable Development, also known as Rio+20, in June 2012, SINOPEC made ten voluntary commitments out of the UN’s twenty-three voluntary commitments.

The UN Global Compact was officially inaugurated at the UN headquarters in New York in July 2000 and is the largest corporate sustainable development initiative in the world with 8,700 corporate participants and other stakeholders from over 130 countries, including 299 Chinese participants. Since its establishment on November 28, 2011 with the official authorization from the UN Global Compact, the Global Compact Network China, led by CEC and SINOPEC, carried out effective works in enhancing corporate social responsibility and promoting sustainable development, and has become a diversified, inclusive and self-disciplined organization with participants from different industries, countries and of different corporate ownerships.

Information source:Sinopec