- The largest oil producer in the United Arab Emirates, ADNOC, is increasing its carbon-capture objective as it strives for a net-zero goal and aims to enhance its environmental reputation ahead of the UN's primary climate summit. Adnoc intends to capture 10 million tons of carbon dioxide emissions annually by 2030, a significant boost from the previous target of 5 million tons, as indicated in an official statement.
- Adnoc's executive committee, chaired by Crown Prince Sheikh Khaled bin Mohamed Al Nahyan, has approved this plan as a key component of the company's strategy to achieve net-zero emissions from its internal operations by 2045. The UAE, the initial Gulf state to commit to achieving net-zero carbon emissions by 2050, is the host of the UN's primary climate conference, set to commence at the end of November.
Why it matters
Despite this more ambitious carbon capture target, Adnoc will still only intercept a fraction of its emissions before they are released into the atmosphere. The company presently generates 24 million tons of CO2 annually during its upstream operations, which involve oil and gas production. Moreover, Adnoc's calculations do not encompass emissions stemming from customers who burn the oil and gas it supplies.