ADNOC has secured a $2 billion green financing facility backed by Korea Trade Insurance Corporation (K-SURE), taking its total green funding to $5 billion within 18 months. The latest facility supports lower-carbon investments in line with ADNOC’s Sustainable Finance Framework.
The agreement was announced during a visit to South Korea by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO. During the visit, ADNOC and K-SURE confirmed the partnership aimed at expanding access to sustainable finance and supporting ADNOC’s decarbonisation agenda.
Proceeds from the facility will be allocated to projects that meet defined environmental criteria under ADNOC’s Sustainable Finance Framework. The framework has received an independent Second Party Opinion from Sustainable Fitch, confirming its alignment with internationally recognised sustainable finance principles.
Expansion of ADNOC’s green finance programme
The K-SURE-backed facility marks ADNOC’s first green financing supported by a Korean export credit agency. It follows a $3 billion green financing transaction completed in 2024 with the Japan Bank for International Cooperation, bringing ADNOC’s total green funding to $5 billion over a relatively short period.
Khaled Al Zaabi, ADNOC Group Chief Financial Officer, said the partnership with K-SURE expands access to green capital, strengthens economic ties with South Korea and reinforces ADNOC’s position in lower-carbon energy. First Abu Dhabi Bank is acting as Green Loan Coordinator, while Santander is serving as export credit agency coordinator.
Funding aligned with emissions reduction targets
ADNOC has positioned itself among the least carbon-intensive oil and gas producers globally and has committed to reducing its operational carbon emissions intensity by 25 per cent by 2030. To support this objective, the company plans to invest around $23 billion in decarbonising its operations and accelerating growth in new energy businesses, including hydrogen, geothermal energy and renewables.
The new green financing facility is expected to support lower-carbon infrastructure and technologies that reduce emissions across ADNOC’s core operations. By using an export credit agency-backed structure, ADNOC is able to access competitively priced funding while retaining flexibility in deploying capital across eligible projects.
