The office of ADNOC in Abu Dhabhi recently witnessed an extra buzz in activity. This was due to a meeting called by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.
Decarbonization is close to His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan’s heart. During a meeting at ADNOC Headquarters, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan chaired the Executive Committee of the ADNOC Board of Directors. The meeting focused on ADNOC’s commitment to decarbonization and sustainability.
Accelerated Decarbonization initiatives
His Highness approved ADNOC’s accelerated decarbonization plan, aiming to achieve net-zero emissions by 2045, five years earlier than the previous target. Furthermore, ADNOC aims to achieve zero methane emissions by 2030, making it the first company in its peer group to accelerate its net-zero target.
His Highness noted that these new, ambitious targets mark a new chapter in ADNOC’s transformational journey to a lower carbon future. The company has placed sustainability at the heart of its long-term strategy, including the decarbonisation of its operations, investing in renewables, building a global hydrogen value chain, deploying innovative climate technology solutions and advancing nature-based solutions such as planting mangroves in the UAE.
Emphasizing sustainability as a crucial aspect of ADNOC’s long-term strategy, His Highness highlighted various initiatives, including decarbonization of operations, investments in renewables, global hydrogen value chain development, innovative climate technology solutions, and nature-based solutions like mangrove planting.
The meeting attendees included other esteemed members, such as H.E. Dr. Sultan Ahmed Al Jaber, H.E. Suhail Mohamed Al Mazrouei, H.E. Ahmed Ali Al Sayegh, H.E. Khaldoon Khalifa Al Mubarak, and H.E. Jassem Mohammed Buatabah Al Zaabi. These individuals, under His Highness’s guidance, provide strategic direction for ADNOC in achieving its operational and financial targets.
The Executive Committee encouraged ADNOC to collaborate with other progressive energy companies, customers, and technology leaders globally to enhance its decarbonization efforts. His Highness applauded ADNOC’s 2022 upstream carbon intensity performance and its methane emissions reduction, positioning the company among the lowest carbon intensity oil and gas producers worldwide.
ADNOC plays a significant role in supporting the UAE’s updated Nationally Determined Contribution and various energy strategies, and the company will continue to prioritize human capital development. ADNOC has allocated $15 billion to expedite the implementation of key decarbonization initiatives, such as carbon capture and storage, electrification, energy efficiency, and nature-based solutions.
The company also aims to drive renewable energy growth and green hydrogen production through its shareholding in Masdar.
Reduction in offshore carbon footprint
To reduce its offshore carbon footprint, ADNOC will connect its offshore operations to clean grid power through a first-of-its-kind project, and it plans to build a low-carbon ammonia production facility to assist its customers in decarbonizing. Additionally, ADNOC is working on pilot projects to expand its carbon capture capacity and has been actively reducing methane emissions over the years.
As part of its commitment to sustainability, ADNOC aims to plant 10 million mangroves by 2030, supporting the UAE’s goal of planting 100 million mangroves. To drive forward its decarbonization plans, ADNOC established a Low Carbon Solutions and International Growth Directorate.
Under the guidance of His Highness, the Executive Committee provides strategic direction for ADNOC in reviewing progress against its operational and financial targets. In the GCC region, ADNOC has strongly got off the block. It will hope that the remaining journey will similar be smooth.