ADNOC Secures $2 Billion K-SURE-Backed Green Financing, Lifting Total Green Funding to $5 Billion

Abu Dhabi National Oil Company (ADNOC) has signed a $2 billion (AED 7.34 billion) green financing agreement, backed by the Korea Trade Insurance Corporation (K-SURE), to support lower-carbon projects across its operations. The milestone agreement underlines ADNOC’s growing use of sustainable finance as a core pillar of its long-term growth strategy.

The announcement was made during the official visit of His Excellency Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, to South Korea, where he met Mr Youngjin Jang, President and Chairman of K-SURE.

Aligned with Global Sustainable Finance Standards

The K-SURE-backed facility is structured under ADNOC’s Sustainable Finance Framework and will finance projects that meet internationally recognised green and sustainability criteria.

Sustainable Fitch has issued an independent Second Party Opinion, confirming that ADNOC’s framework is aligned with global sustainable finance market principles, reinforcing the credibility and transparency of the transaction.

Strengthening International Partnerships

Commenting on the agreement, Khaled Al Zaabi, ADNOC Group Chief Financial Officer, said the deal reflects ADNOC’s disciplined and forward-looking approach to financing the energy transition.

“This facility demonstrates ADNOC’s commitment to transforming energy systems while maintaining strong capital discipline. Our partnership with K-SURE expands access to green finance, deepens economic ties with South Korea and strengthens ADNOC’s position as a leader in lower-carbon energy.”

This is ADNOC’s first green financing facility backed by a Korean export credit agency, marking an important expansion of its international sustainable finance partnerships.

$5 Billion in Green Funding in Just 18 Months

The latest transaction follows ADNOC’s $3 billion (AED 11 billion) green financing deal with the Japan Bank for International Cooperation (JBIC) in 2024. Together, the two agreements bring ADNOC’s total green funding to $5 billion (AED 18.35 billion) within just 18 months, highlighting the company’s accelerating momentum in sustainable finance.

Driving Decarbonisation and New Energy Growth

As one of the world’s least carbon-intensive oil and gas producers, ADNOC is targeting a 25% reduction in operational carbon emissions intensity by 2030. The company has committed $23 billion (AED 84.4 billion) to decarbonise its operations and scale up investments in hydrogen, geothermal energy and renewables.

ADNOC is also a founding member of the Oil and Gas Decarbonization Charter (OGDC), through which it has committed to zero methane emissions by 2030 and net-zero emissions by or before 2050.

Transaction Coordination

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

With this latest deal, ADNOC continues to position sustainable finance at the heart of its energy transition, reinforcing investor confidence while accelerating the shift towards a lower-carbon future.