ADNOC has signed a $2 billion (AED7.34 billion) green financing agreement backed by Korea Trade Insurance Corporation (K-SURE) to fund lower-carbon projects across its operations.
The deal reinforces ADNOC’s ambition to integrate sustainable finance into its growth plans, as per the statement.
The K-SURE-backed facility, structured under ADNOC’s Sustainable Finance Framework, 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 the UAE company’s Sustainable Finance Framework with global sustainable finance principles.
Khaled Al Zaabi Group CFO – ADNOC
“This facility reflects our 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.”
This marks the UAE company’s first green financing facility backed by a Korean export credit agency (ECA), following a $3 billion (AED11 billion) transaction with the Japan Bank for International Cooperation (JBIC) in 2024. Together, these deals bring its total green funding to $5 billion (AED18.35 billion) in just 18 months, strengthening its track record in green finance.
ADNOC’s Role in Global Energy Transition and Decarbonization Efforts
ADNOC is one of the least carbon-intensive oil and gas producers and is further reducing its operational carbon emissions intensity by 25 percent by 2030 while investing $23 billion (AED84.4 billion) to decarbonize its operations and accelerate the growth of new energies, including hydrogen, geothermal, and renewables.
The company is a founding member of the Oil and Gas Decarbonization 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.
