Emirates News Agency – ADNOC Distribution commits to reduce the carbon intensity of its operations by 25% by 2030
Friday, January 20, 2023 – 10:46 am
The company plans to reduce its carbon emissions through several initiatives such as: B. installing solar panels at its gas stations and using biofuels to power its vehicle fleet.
ADNOC Distribution becomes the first retail fuel distribution company in the United Arab Emirates to receive funding linked to specific sustainability goals through a US$1.5 billion financing.
ABU DHABI, Jan 20 / WAM / ADNOC Distribution today announced its plans to reduce the intensity of its carbon emissions by 25% by 2030 by focusing on the sustainability of its day-to-day operations, improving its business and its future competitiveness and long-term long-term sustainable value for its shareholders.
In its quest to foster and accelerate sustainable growth in its operations, ADNOC Distribution is committed to decarbonizing its operations by reducing the first tier carbon emissions that result directly from its operations, in addition to reducing the second tier carbon emissions, resulting from the energy consumption in management, its operations are reduced.
The company said it intends to install solar panels to power gas stations and use biofuels to power its vehicle fleet, in addition to expanding its network of electric vehicle charging stations. The company will also use “green cement” in the construction of the new stations, which is environmentally friendly and has a low carbon footprint compared to traditional cement.
ADNOC Distribution was the first retail fuel distribution company in the UAE to receive sustainable financing, utilizing existing US$1.5 billion (5.5 billion dirhams) of financing in partnership with First Abu Dhabi Bank as coordinator for Environment, Social and Corporate into funding linked to specific sustainability goals.
ADNOC Distribution is committed to a sustainability-linked credit sanction/incentive system that links financing conditions to the achievement of sustainability indicators. In addition to First Abu Dhabi Bank, the financing includes other parties: Abu Dhabi Commercial Bank, Bank of China, Industrial and Commercial Bank of China and Standard Chartered Bank.
Engineer Badr Saeed Al-Lamki, CEO of ADNOC Distribution, said: “By reducing our business’ emissions by increasing energy efficiency, using clean fuels and linking our financing targets to sustainability indicators, we are putting sustainability at the heart of our daily work. which will help improve our company’s competitiveness in global markets.” and create long-term sustainable value for our shareholders.”
He added: “Adopting a sustainable mix of energy sources to power our fleet of vehicles and using solar energy at fuel stations, as well as providing our customers with low-carbon products, confirms our commitment to sustainable growth through constant innovation in the field of new energy solutions.”
Engineer Badr Saeed Al Lamki also confirmed that ADNOC Distribution will implement sustainability initiatives at the level of its forecourt network in the United Arab Emirates and Saudi Arabia.
In 2022, as part of its comprehensive strategy to continue expanding into sustainable and environmentally friendly products, ADNOC Distribution launched the green “Voyager” range of oils for petrol and diesel engines, made from 100% vegetable base oils.
As a leader in the UAE in fuel distribution, ADNOC Distribution is working towards the provision of various alternative fuels through its service station network as it currently offers CNG fuel through 31 service stations across the country, including a natural gas vehicle station in the Emirate of Abu Dhabi.
Dina Omar / Ahmed Al Nuaimi
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