ADNOC and JBIC's $3 Billion Green Financing Agreement: Driving Global Energy Transition
Key Ideas
  • ADNOC and JBIC signed a $3 billion green financing facility agreement to support ADNOC's decarbonization and energy transition initiatives.
  • The agreement builds on the strategic energy relationship between the UAE and Japan, emphasizing collaboration for a sustainable future.
  • ADNOC is committed to reducing its carbon intensity by 25% by 2030 and investing in technologies like hydrogen, geothermal, renewables, and carbon capture.
  • The company aims to achieve net zero emissions by 2045 and zero methane emissions by 2030, aligning with global decarbonization efforts.
Abu Dhabi National Oil Company (ADNOC) and the Japan Bank for International Cooperation (JBIC) have signed a $3 billion green financing agreement to support ADNOC's decarbonization and energy transition efforts. This agreement, part of JBIC's GREEN lending program, signifies a milestone in the long-standing strategic relationship between the UAE and Japan. ADNOC aims to reduce its carbon intensity by 25% by 2030 and invest $23 billion in decarbonization initiatives, including hydrogen, geothermal, renewables, and carbon capture technologies. The company has set ambitious goals of achieving net zero emissions by 2045 and zero methane emissions by 2030, in alignment with global decarbonization targets. The partnership between ADNOC and JBIC highlights a commitment to sustainable practices and a collaborative approach to driving the energy transition towards a greener future.
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