Abu Dhabi National Oil Co. signed a $2 billion green financing agreement backed by Korea Trade Insurance Corp. to fund lower-carbon projects across its operations.
The deal marks Adnoc’s first green financing facility supported by a Korean export credit agency, following a $3 billion green loan with Japan Bank for International Cooperation last year, according to a statement.
First Abu Dhabi Bank was as the green loan coordinator, while Santander acted as the export credit agency coordinator.
Adnoc said it plans to reduce operational carbon emissions intensity by 25% by 2030. The company is investing $23 billion to decarbonize its operations and expand into new energy sectors including hydrogen, geothermal, and renewables.
📌 Why it matters: The Korean-backed facility diversifies ADNOC’s green funding sources and signals growing international appetite for supporting Middle East energy companies in their low-carbon transitions.
📌 Bottom line: Adnoc’s $5 billion green financing haul in 18 months strengthens its sustainability profile and provides capital to accelerate decarbonization and new energy projects, cementing its role as a global energy leader.
