ADNOC plays a pivotal role in helping the UAE achieve its Net Zero 2050 strategy by leading on the energy transition and decarbonization of its own operations and other industries in the UAE. We commend ADNOC for taking a comprehensive approach with a focus on the development of lower-carbon energy solutions and with the protection of biodiversity at the heart of its strategy, enabled by advanced technology. We look forward to continuing our shared journey to achieve sustainable development and maintain the UAE’s position as a regional and international leader of climate action.” ADNOC Group is wholly owned by the Abu Dhabi government. This means we focus on creating economic and social opportunities for our nation and in the countries where we do business. We continue to look for new and innovative ways to maximize the value of Abu Dhabi’s natural resources while supporting key national agendas, including the UAE’s Net Zero Strategy and the Abu Dhabi Economic Vision 2030. UAE national strategic objectives Our strategy and reporting are informed by stakeholder engagements and materiality assessments. The outcomes of these exercises help us ensure we are covering the topics most relevant to our stakeholders, that we are addressing evolving risks and opportunities, and that our sustainability goals are aligned with our strategic business objectives. In 2023, we re-evaluated and updated our materiality assessment to ensure that our sustainability material matters remain relevant and timely. We identified each material topic based on our ability to influence the topic and create value over time; its impact on our corporate strategy and business activities; its importance to key internal and external stakeholders; its relevance to UAE policies and commitments; its connection with sector-specific trends; and its alignment with a range of reporting standards including the Global Reporting Initiative (GRI) 11: Oil and Gas Sector 2021. Our material topics We explored each topic in detail to understand its relevance to our operations and sustainability commitments. We conducted engagement workshops with key internal and external stakeholders and subject matter experts to test and validate our outcomes. We prioritized the topics based on strategic importance, significance to our stakeholders and our ability to create positive impact across the value chain. We identified 13 key material topics and mapped them to our priorities. Together towards net zero Protecting nature and biodiversity Empowering people and driving prosperity Keeping our people safe How we operate Climate change and GHG Impact on business Impact on business Impact on business Impact Very High High Moderate Impact on stakeholders Impact on stakeholders Impact on stakeholders Process safety and asset integrity Workforce protection ADNOC’s contribution to the UAE national strategic objectives Water and effluent management Waste management Local environment Biodiversity Business ethics Governance Socioeconomic impact Employment practices, development and wellbeing Diversity and equal opportunity Human rights H.E. Dr. Amna bint Abdullah Al Dahak, UAE Minister of Climate Change and Environment ADNOC’s actions • Decarbonizing our operations • Investing in renewables • Building a global hydrogen value chain • Deploying innovative climate technology solutions • Advancing nature-based solutions Contributing to UAE objectives • The UAE’s Net Zero 2050 Strategy • Abu Dhabi Climate Change Strategy • National Climate Change Plan of the UAE 2017–2050 • UAE National Determined Contribution (UNFCCC) • UAE Energy Strategy 2050 • National Hydrogen Strategy ADNOC’s actions • Enabling economic diversification and technology-led job creation • Driving socio-economic development, improving knowledge transfer and creating skilled jobs for UAE nationals • Nurturing and shaping a future-ready workforce through our educational programs Contributing to UAE objectives • UAE Centennial 2071 • Abu Dhabi Industrial Strategy • Abu Dhabi Economic Vision (2030) • UAE Strategy for Talent Attraction and Retention • National In-Country Value (ICV) Program • ‘We the UAE 2031’ vision ADNOC’s actions • Protecting the natural environment • Limiting our freshwater consumption • Aligning our Biodiversity Framework with UAE’s Biodiversity Strategy Contributing to UAE objectives • UAE Biodiversity Strategy • UAE Water Security Strategy 2036 • The National Air Quality Agenda 2031 • Environmental Vision 2030 (Abu Dhabi) ” 14 15 Energy for Life