2023 $2.2 billion Announces project with TAQA for sustainable water supply to onshore operations. Allocates $15 billion (AED55 billion) to invest in decarbonization projects including carbon capture, electrification, new CO2 absorption technology, hydrogen and renewables. This investment is increased to $23 billion (AED84.4 billion) in early 2024. Increases its carbon capture capacity target to 10 million tonnes per annum by 2030, up from the previous target of 5 million tonnes. Brings forward its Net Zero ambition by five years to 2045. Discloses 2022 operational emissions through the Advancing Towards Net Zero report. Becomes a founding member of the Oil and Gas Decarbonization Charter, a global industry partnership launched by the COP28 Presidency and dedicated to delivering on near-zero methane by 2030 and net zero by 2050. Takes a final investment decision on two major carbon capture, utilization and storage projects with a combined capacity to capture and permanently store 2.9 million tonnes per annum of CO2. Awards a $1 million (AED3.67 million) piloting opportunity to Revterra in the worldwide Decarbonization Technology Challenge final. Acquires a 10.1% equity stake in Storegga, broadening ADNOC’s global carbon management portfolio. Executes pilot with Fujairah Natural Resources Corporation (FNRC), Masdar and 44.01 to deploy technology that permanently mineralizes CO2 within rock formations found in the Emirate of Fujairah. Begins operating the world’s first fully sequestered CO2 injection well in a carbonate saline aquifer. Commences operations at G2COOL, the first district cooling project in the gulf region to harness geothermal energy. Plants 2.5 million mangrove seeds through pioneering drone technology to absorb CO2 and other greenhouse gases, supporting biodiversity and providing additional marine life habitat. Contributes more than $11.2 billion (AED41 billion) to the UAE economy, bringing the total In-Country Value spend since the program’s launch to $51 billion (AED187 billion). Partners with the Abu Dhabi Department of Education and Knowledge (ADEK) and The Indian Institute of Technology Delhi - Abu Dhabi to offer 11 scholarships for the Masters in Energy Transition and Sustainability. (AED8.3 billion) Sustainability milestones Our impact 22 23 Energy for Life