ADNOC secures $2 billion K-SURE-backed green financing

Agreement announced during Korea visit

The agreement was announced during the visit of Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, to the Republic of Korea, where he met with Youngjin Jang, President and Chairman of K-SURE.

Sustainable finance framework alignment

The K-SURE-backed facility is structured under ADNOC’s Sustainable Finance Framework and will finance eligible projects that comply with international sustainable finance standards. Sustainable Fitch provided an independent Second Party Opinion confirming alignment with global sustainable finance principles.

Strengthening green finance track record

This marks ADNOC’s first green financing facility backed by a Korean export credit agency, following a $3 billion transaction with Japan Bank for International Cooperation in 2024. These deals bring ADNOC’s total green funding to $5 billion within 18 months.

Advancing decarbonisation and new energies

ADNOC is reducing its operational carbon emissions intensity by 25 percent by 2030 and investing $23 billion to decarbonise operations and expand new energy ventures, including hydrogen, geothermal and renewables. The company is also a founding member of the Oil and Gas Decarbonisation Charter, committing to zero methane emissions by 2030 and net zero by 2050.

Financing partners

First Abu Dhabi Bank (FAB) acted as the Green Loan Coordinator, while Santander served as the Export Credit Agency coordinator for the agreement.