China Petroleum & Chemical Corporation (Sinopec) and BASF announced the alignment of their core methodologies for product carbon footprint accounting and formalized a framework for mutual recognition at the China International Petroleum and Chemical Conference (CPCIC 2025), held from October 22 to 24 in Ningbo.

The agreement represents a major step forward in fostering international convergence on product carbon footprint standards and strengthens low-carbon collaboration between leading Chinese and German chemical enterprises.

To ensure robustness and credibility, the two companies jointly commissioned global certification body TÜV Rheinland to conduct a consistency evaluation of their respective accounting methodologies.

Following multiple rounds of technical review, TÜV Rheinland confirmed that both methodologies comply with the international standard ISO 14067:2018 and China’s national standard GB/T 24067–2024, demonstrating alignment in key methodological elements. TÜV Rheinland subsequently issued a formal consistency statement, enabling Sinopec and BASF to establish mutual trust in carbon footprint data and recognize each other’s accounting frameworks.

This mutual recognition is expected to enhance transparency and comparability of carbon footprint data across regions and value chains. It will support more efficient data application, strengthen coordinated carbon reduction efforts throughout the supply chain, and further promote high-quality, green development in the petrochemical industry.