The Abu Dhabi National Oil Company (Adnoc) on Monday announced plans to reduce its greenhouse gas emissions by 25 per cent over the next 10 years as part of a comprehensive sustainability agenda. Adnoc currently captures most of its emissions through its Al Reyadah facility, which can capture 800,000 tonnes of carbon dioxide (CO2) and other greenhouse gas emissions annually. The group plans to raise that capacity to five million tonnes of CO2 emissions annually.
As well as reducing its carbon footprint, the group announced a series of other wide-ranging green initiatives, including limiting its freshwater consumption ratio below 0.5 per cent of total water use and achieving an in-country value (ICV) of 50 per cent across its full value chain by 2050.
“Adnoc’s sustainability goals further demonstrate our commitment to responsible production, which has been embedded in our business practices since the company was established in 1971,” said Dr Sultan Al Jaber, UAE Minister of State and Adnoc Group chief executive officer, at the opening of the Abu Dhabi Sustainability Week. We are taking a comprehensive and holistic approach to our sustainability strategy in terms of our contribution to the economy, the environment and our most important asset, our people, he added.
“We are strengthening our environmental performance as we expand our operations to ensure we can deliver more energy with less emissions for decades to come,” he said, highlighting how Adnoc was putting an added focus on environmental protection, which will also include planting 10 million mangrove seedlings in Al Dhafra Region by 2022.
Al Jaber also emphasised Adnoc’s ICV programme — which brought in Dh26 billion into the UAE economy in 2019 — as a key economic driver for the country.
“We are reinforcing our role as the primary catalyst of the UAE’s socioeconomic development through our ICV goal, while maintaining a firm focus on the safety of our people and the integrity of our assets.
“Building on 50 years of responsible production, Adnoc will continue to work in partnership with key stakeholders to prioritise sustainability and we will continue to make significant investment in new and innovative technologies,” he added. The ICV programme to date has also created over 1,500 private sector jobs for Emiratis, since its launch in 2018.