ADNOC advances towards zero carbon emissions, global prosperity
(MENAFN) ADNOC is making significant progress towards meeting environmental protection standards and investing in solutions that support a fair transition in the energy sector, aiming to achieve zero carbon emissions. In its annual sustainability report, ADNOC highlighted the dual challenge of providing energy to the nearly 800 million people who currently lack electricity, while also driving economic growth and social progress through support for diversity, inclusion, health, and well-being. Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and CEO of ADNOC, emphasized the company's commitment to responsibly supplying energy resources and establishing sustainability standards across all aspects of its operations to help build a prosperous and sustainable global future.
According to ADNOC’s 2023 Sustainability Report, titled “Energy for Life,” the company has committed USD15 billion (AED 55 billion) to decarbonization projects, including carbon capture, electrification, new CO2 capture technology, hydrogen, and renewable energy initiatives. This investment was increased to USD23 billion in early 2024, doubling the company's carbon capture capacity target to 10 million tons annually by 2030, up from the previous target of 5 million tons. ADNOC has also achieved a reduction of 6.2 million tonnes of CO2 in Scope 1 and 2 emissions by expanding its decarbonization efforts and utilizing 100 percent solar and nuclear power for onshore operations.
Furthermore, ADNOC's commitment to sustainable growth has resulted in the creation of 6,500 job opportunities in the UAE's private sector. The report also highlighted a 20 percent decrease in emissions, the redirection of USD11.2 billion into the local economy, and the planting of 2.5 million mangrove trees. These achievements underscore ADNOC's dedication to not only meeting immediate energy needs but also fostering long-term environmental and economic sustainability.
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