ADNOC has signed a US$2 billion green financing agreement to fund lower-carbon projects across its operations.
Announced during the visit of Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO to South Korea, the deal is backed by Korea Trade Insurance Corporation (K-SURE).
This marks ADNOC’s first green financing facility backed by a Korean export credit agency (ECA), following a US$3 billion (AED11 billion) transaction with the Japan Bank for International Cooperation (JBIC) in 2024. Together, these deals bring ADNOC’s total green funding to US$5 billion in just 18 months, strengthening its track record in green finance.
It reinforces ADNOC’s ambition to integrate sustainable finance into its growth plans.
Structured under ADNOC’s Sustainable Finance Framework, it will facilitate the financing of eligible projects compliant with international sustainable finance market standards. Sustainable Fitch provided an independent Second Party Opinion, confirming alignment of ADNOC’s Sustainable Finance Framework with global sustainable finance principles.
Khaled Al Zaabi, ADNOC Group Chief Financial Officer, said: “This facility reflects ADNOC’s commitment to financing the transformation of energy systems while maintaining strong capital discipline. Through our partnership with K-SURE, we are expanding access to green finance, deepening our economic ties with South Korea and strengthening ADNOC’s position as a leader in lower carbon energy.”
ADNOC is one of the least carbon-intensive oil and gas producers and is further reducing its operational carbon emissions intensity by 25 per cent by 2030 while investing US$23 billion to decarbonise its operations and accelerate the growth of new energies, including hydrogen, geothermal and renewables.
The company is also a founding member of the Oil and Gas Decarbonisation Charter (OGDC), a coalition of International and National Oil Companies that have committed to zero methane emissions by 2030 and net zero by or before 2050.
