UAE oil firm targets net Zero emissions by 2045

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[vc_row el_class=”container section”][vc_column el_class=”row”][vc_row_inner el_class=”row”][vc_column_inner][expatmedia-landing-article title=”landing article”][/vc_column_inner][/vc_row_inner][vc_row_inner el_class=”col-md-8 “][vc_column_inner el_class=”col-md-8″][expatmedia-article-content body_text=”Nothing, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt.

Consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis.” byline=”staff reporter” caption=”A state-owned oil company in the UAE.” credits=”SUPPLIED”]A state-owned oil company in the UAE recently announced that it has taken steps towards achieving its goal of reaching net zero emissions in its operation by 2045.

The Abu Dhabi National Oil Company (ADNOC), has made a pledge to achieve zero methane emissions by the year 2030. Its main focus is on methane, a greenhouse gas with greater effectiveness than carbon dioxide.

ADNOC set aside $15 billion this year for various environmentally-friendly initiatives, such as the advancement of hydrogen energy, the establishment of carbon capture facilities and the growth of mangrove forests.

The company had previously set a goal to reach net zero emissions by 2050 by offsetting their greenhouse gas emissions through removing an equivalent amount from the atmosphere.

ADNOC’s announcement coincides with the country’s preparation to host the upcoming UN climate negotiations. The upcoming global climate talks, also known as COP28, will be held in Dubai from November 30 to December 12. The UAE, a key crude oil producer and member of OPEC, has been chosen as the host country. However, there has been criticism from some environmental activists regarding the selection of Sultan Al Jaber, the CEO of ADNOC, as the chair of the COP28.

Al Jaber has emphasized the significance of decreasing emissions instead of fully discontinuing the reliance on fossil fuels. This position has led to worries that he might support untested carbon-capture technologies and offsets, which are believed by experts to divert focus from the essential objective of ceasing the release of greenhouse gasses.

The UAE, known for its thriving business and tourism industries, has committed to becoming carbon neutral by 2050. Analysts suggest that the UAE’s focus on renewable energy sources might stem from their desire to capitalize on emerging opportunities and enhance economic benefits. JAC/Expat Media


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