ADNOC Expands its Total Green Funding pot to $5 Billion

20 Dec ADNOC Expands its Total Green Funding pot to $5 Billion

(Oilandgaspress) ADNOC has signed a $2 billion (AED 7.34 billion) green financing agreement backed by Korea Trade Insurance Corporation (K-SURE) to fund lower carbon projects across its operations. The deal reinforces ADNOC’s ambition to integrate sustainable finance into its growth plans. The agreement was announced during the visit of His Excellency Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO to South Korea, where he met with Mr. Youngjin Jang, President and Chairman of K-SURE.

The K-SURE backed facility, structured under ADNOC’s Sustainable Finance Framework, will facilitate the financing of eligible projects compliant with international sustainable finance market standards. Sustainable Fitch provided an independent Second Party Opinion, confirming alignment of ADNOC’s Sustainable Finance Framework with global sustainable finance principles.

This marks ADNOC’s first green financing facility backed by a Korean export credit agency (ECA), following a $3 billion (AED11 billion) transaction with the Japan Bank for International Cooperation (JBIC) in 2024. Together, these deals bring ADNOC’s total green funding to $5 billion (AED18.35 billion) in just 18 months, strengthening its track record in green finance.

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