background image

UAE oil giant raises climate goal ahead of key UN summit

author image

By illuminem briefings 🌎

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece in Reuters or enjoy below 

🗞️ Driving the news: Abu Dhabi National Oil Company (ADNOC) has expedited its net-zero carbon emissions target from 2050 to 2045
• Releasing its emissions data for the first time, ADNOC reported nearly 24 million metric tons of CO2 equivalent in 2022
The company also anticipates a rise in oil and gas production in the future

🔭 The context: As the United Arab Emirates (UAE), home to state-owned ADNOC, gears up to host the 2023 U.N. Climate Conference (COP28), it has unveiled revised emissions targets
• Considering the UAE's 3% contribution to global oil supply and its greenhouse gas implications, these new commitments come in response to climate activists' criticisms over the appointment of ADNOC's CEO, Sultan al-Jaber, as the summit's president

🌎 Why it matters for the planet: ADNOC's updated ambition to hit net-zero emissions by 2045 is a vital stride in global climate change combat
• Yet, their pledge omits Scope 3 emissions, which arise from the combustion of their fuel and make up the bulk of emissions

⏭️ What's next: ADNOC aims to reduce greenhouse gas (GHG) emission intensity by 25% and increase carbon capture, utilization, and storage capacity by 500% by 2030
• The company's approach to Scope 3 emissions remains to be seen as more European oil majors set reduction targets for these emissions

💬 One quote: "ADNOC said its upstream carbon intensity was around 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent, which is among the lowest in the world." (Yousef Saba, Fixed Income Correspondent at Reuters)

Click for more news covering the latest on environmental sustainability

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices


Related Posts


You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)