Abu Dhabi National Oil Company said it would allocate USD15bn to decarbonisation projects by 2030. The projects will include investments in clean power, carbon capture and storage (CCS) and electrification. ADNOC's board of directors approved in November the acceleration of the company's low-carbon growth strategy and its goal of net zero by 2050. The Abu Dhabi energy group will announce initiatives throughout 2023, including a CCS project, investments in new and cleaner energy solutions and international partnerships. ADNOC is committed to reducing its carbon intensity by 25% by 2030.

Source: Reuters