Abu Dhabi National Oil Company (ADNOC) has taken a significant step towards a greener future with an accelerated decarbonisation plan, bringing forward its net-zero target to 2045, ahead of its previous goal of 2050. Chaired by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, the ADNOC Executive Committee approved the new ambitious targets, including achieving zero methane emissions by 2030. ADNOC becomes the first company in its peer group to accelerate its net-zero commitment.
The company’s sustainability strategy revolves around various initiatives, such as the decarbonisation of its operations, renewable energy investments, building a global hydrogen value chain, and implementing climate technology solutions. Additionally, ADNOC aims to bolster its decarbonisation plan by seeking global partnerships with progressive energy companies, customers, and technology leaders.
ADNOC’s remarkable performance in 2022, with an upstream carbon intensity of ~7 kgCO2e/boe and industry-leading methane intensity of ~0.07%, demonstrates its commitment to reducing its carbon footprint. The company achieved significant greenhouse gas emissions reductions through solar and nuclear power for its onshore operations and energy efficiency and flaring reduction projects.
His Highness emphasized the crucial role of ADNOC in supporting the UAE’s updated Nationally Determined Contribution (NDC) and Climate Change Strategy. ADNOC’s efforts to empower its employees align with the nation’s priority of human capital development.
With an initial allocation of $15 billion for decarbonisation initiatives, ADNOC will focus on carbon capture and storage, electrification, energy efficiency, and nature-based solutions. The company’s shareholding in Masdar, a leading renewable energy company targeting over 100 GW of renewable capacity and one million tonnes of green hydrogen production by 2030, will drive global growth in renewable energy and green hydrogen.
The decarbonisation plan includes projects like connecting offshore operations to clean grid power and building a low-carbon ammonia production facility. ADNOC also began pilot projects for carbon capture and storage to expand its capacity to five million tonnes per annum by 2030.
Noteworthy efforts in sustainability include ADNOC’s commitment to planting 10 million mangroves by 2030, supporting the UAE’s aim to plant 100 million mangroves by the same year.
His Highness Sheikh Khaled and the Executive Committee members reviewed ADNOC’s progress and strategic direction during the meeting. The company’s dedication to achieving a sustainable future remains at the forefront of its operations, delivering a responsible and reliable energy supply to the world.