ADNOC Becomes First Major Oil Company to Accelerate Net Zero Target to 2045
The Abu Dhabi National Oil Company (ADNOC) has made history by advancing its decarbonisation plan, aiming to achieve net zero emissions by 2045, five years ahead of schedule. This groundbreaking move was approved by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, during the Executive Committee of the ADNOC Board of Directors meeting at their headquarters.
ADNOC is committed to going beyond net zero emissions and has set an ambitious goal of achieving zero methane emissions by 2030. With methane being 80 times more potent than carbon dioxide in the short term, this endeavor represents a significant step in combatting greenhouse gas emissions.
Sustainability at the Core
ADNOC’s long-term strategy revolves around sustainability, encompassing various initiatives such as decarbonisation, renewable investments, a global hydrogen value chain, innovative climate technology solutions, and nature-based approaches like mangrove planting.
The company has allocated $15 billion to expedite the implementation of key decarbonisation projects, including carbon capture and storage, electrification, energy efficiency, and nature-based solutions. Expect further investments and projects announcements as ADNOC strives to meet its ambitious decarbonisation targets.
Driving Renewable Energy and Green Hydrogen
As a shareholder in Abu Dhabi Future Energy Company (Masdar), a leading renewable energy firm, ADNOC aims to foster global growth in renewable energy and green hydrogen. Together, they are targeting more than 100 GW of renewable capacity and the production of one million tonnes of green hydrogen by 2030.
Leading in Carbon Reduction
ADNOC’s decarbonisation plan includes a groundbreaking $3.8 billion project to connect offshore operations to clean grid power, reducing the offshore carbon footprint by up to 50 percent. Additionally, the company plans to build a 1 million tonnes per annum low-carbon ammonia production facility to support its customers in decarbonisation.
The company has also initiated pilot projects to capture and store carbon dioxide (CO2) as part of its efforts to expand carbon capture capacity to 5 million tonnes per annum by 2030.
ADNOC is actively fulfilling its goal of planting 10 million mangroves by 2030. Utilizing drone technology, the company has already planted 200,000 mangrove seeds in 2022, with plans to aerially plant a total of 2.5 million mangrove seeds over the next three years.
To date, over two million mangrove seedlings have been planted across Abu Dhabi, highlighting ADNOC’s commitment to nature-based solutions.
Stay updated with the latest environmental initiatives and corporate advancements. For top-tier executive search and recruitment services, trust Guildhall Recruitment. Connect with us today!