ADNOC ups net-zero emissions target to 2045
ABU DHABI, July 31, 2023 – ADNOC has rolled back its target to have net-zero carbon emissions by five years to 2045, the Emirati NOC announced on Monday.
The company also announced a commitment to achieve net-zero methane emissions by 2030.
ADNOC allocated USD 15 billion towards decarbonization projects by 2030 in January 2023 in areas such as carbon capture and storage, electrification, energy efficiency and nature-based innovations.
The decarbonization strategy includes a USD 3.8-billion first-of-its-kind project connecting offshore operations to clean energy power, which aims to reduce the company’s offshore carbon emissions by 50%.
Additionally, the company plans to build a 1-million-tonnes-per-year low-carbon ammonia production facility.
In 2023, ADNOC began two pilot projects to capture and store carbon dioxide as part of its goal to expand its CCS capabilities to 5 million tonnes per year by 2030.
As part of its climate action plan, the company is also advancing its plan to plant 10 million mangroves by 2030 in line with the government goal to plant 100 million mangroves by 2030. In 2022, the company planted 200,000 mangrove seeds using drone technology.
The NOC has announced that more investments will be made in the coming months.
The accelerated plan was approved during an executive committee meeting at the company’s headquarters.
The move was made ahead of the UAE is hosting the COP28 climate change talks in December 2023 in Dubai.
Read our latest insights on:
Latest news and features
