WHAT DINA THINKS A Green Horizon and Economic Growth Through ADNOC

Hi Expats! In a meeting presided over by UAE President Sheikh Mohamed bin Zayed Al Nahyan, the Abu Dhabi National Oil Company (ADNOC) Board of Directors has set forth a visionary roadmap for the future. The meeting, held at ADNOC Headquarters, unveiled ambitious plans that align with global sustainability goals and underscore the company’s commitment to a cleaner, more sustainable energy future.




Under the strategic guidance of Sheikh Mohamed bin Zayed Al Nahyan, ADNOC is taking significant strides to transform, decarbonize, and future-proof its business. The company has set the bar high, committing to tripling its renewable energy capacity through its shareholding in Masdar. The aim is clear: to deliver secure, reliable, and responsible energy, supporting a just, orderly, and equitable global energy transition.A noteworthy highlight is ADNOC’s dedication to reducing its greenhouse gas intensity by 25% and achieving near-zero methane emissions by 2030. To achieve these targets, the company is embracing innovative solutions and technologies, committing a substantial budget of $23 billion for decarbonization projects. This allocation emphasizes ADNOC’s commitment to leading the charge in adopting sustainable practices within the energy sector.In a move signaling global leadership in sustainable practices, ADNOC has entered into agreements for international investments that support a low-carbon ammonia strategy. This strategic investment aligns with the company’s broader vision of fostering cleaner energies and making significant strides toward a lower-carbon future.The ADNOC Board’s forward-looking approach extends beyond environmental sustainability to encompass economic growth within the UAE. The board has mandated ADNOC to drive a staggering $48.5 billion back into the UAE economy over the next five years. This ambitious target builds upon the success of the In-Country Value (ICV) program, which generated $11.2 billion in 2023 and has already injected a total of $51 billion back into the UAE economy since its launch in 2018.Emphasizing ADNOC’s role as a catalyst for the UAE’s economic and industrial growth, the board’s directives aim to prioritize transformational growth, partnerships, and international opportunities. The recent sale and purchase agreement for the acquisition of OCI’s majority shareholding in Fertiglobe plc aligns with ADNOC’s chemicals strategy, positioning the company as a global growth platform for low-carbon ammonia.ADNOC’s commitment extends beyond its operational objectives to include social responsibility and talent development. The company’s corporate social responsibility (CSR) program, contributing over $1.36 billion since 2018, has positively impacted millions of people across the UAE. Simultaneously, ADNOC remains committed to developing local talent and upskilling its workforce in emerging technologies, reinforcing its role as a cornerstone of the nation’s economic success.As ADNOC charts its course towards a greener and more sustainable tomorrow, it not only contributes to global efforts in combating climate change but also serves as a beacon for economic prosperity within the UAE. With visionary leadership and strategic initiatives, I think ADNOC is not just transforming its own future but is actively shaping a more sustainable and economically vibrant future for the entire nation. (edited) 

Comments

Post a Comment

Popular posts from this blog

WHAT DINA THINKS: UAE In G20 Summit in India

Image
The G20 summit has taken place in New Delhi, the capital of India (for now...it may soon be called "Bharat!) today. In the summit, the leaders of the 19 participating countries, plus the European Union countries.... so that's 46 countries in total.  Anyway, this summit, founded in 1999, focuses on  addressing major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.  According to their website, it also plays a vital role in  shaping and strengthening global architecture and governance on all major international economic issues.   According to the state news agency WAM, the UAE's involvement in the G20 process for the fourth consecutive year demonstrates the nation's dedication to enhancing international cooperation and collaborative efforts. This commitment reflects the UAE's ongoing pursuit of sustainable development and shared prosperity on a global scale.  As an expat in the UAE
Read more

Three Years of Abraham Accords

Image
The signing of the Abraham Accords, which took place in the Middle East three years ago, was a historic occasion that resonated beyond ideologies and national boundaries in an area that is typically marked by lingering hostilities from the past. This historic agreement is a testimony to the eternal ideas of tolerance, discussion, and peace and establishes a previously unheard-of partnership between Israel and the United Arab Emirates (UAE). Within the UAE, the Accords have catalyzed a remarkable era of diplomacy and collaboration. The ethos of tolerance and acceptance has thrived, as Emiratis have warmly embraced their Israeli counterparts. It is a profound testament to the potential of dialogue and mutual comprehension in crafting sustainable peace. At the heart of this burgeoning partnership lies the Economic Partnership Agreement, igniting a surge of innovation and commerce between these two nations. Joint ventures, investments, and collaborative ventures have burgeoned, resulting i
Read more

Dr. Sultan Al Jaber Unites Financial Forces for Global Climate Resilience

Image
In a series of influential discussions on climate finance, Dr. Sultan Al Jaber, the designated president of COP28, emphasized pivotal aspects crucial for global climate action. His remarks within these discussions underscored the urgency and necessity for collective commitment and transformative initiatives. Dr. Al Jaber lauded initiatives like the Climate Finance Mobilisation Forum, recognizing them as pivotal avenues for progress. He highlighted the significance of the funding commitments announced by influential private sector entities and philanthropists, deeming them precisely aligned with the crucial steps required ahead of COP28. Acknowledging the vital role of leadership from the US and UK, Dr. Al Jaber stressed their crucial role in meeting climate finance pledges and further mobilizing substantial capital. While recognizing the assurance regarding the $100 billion annual climate finance pledge made in 2009, he emphasized the necessity to escalate efforts, underlining the need
Read more