These trends have the potential not only to drive progress, but to put progress itself into overdrive. In a world where a billion people still lack access to energy, we believe the world needs a broad mix of energy solutions to convert that potential into reality. In 2024, ADNOC continued its efforts to meet the world’s growing energy needs whilst simultaneously delivering on its objectives to create a more prosperous and sustainable future. We maintained our industry-leading upstream carbon intensity of 7 kilograms of CO2 per barrel of oil equivalent (kgCO2e/boe) and achieved a significant reduction in our operational emissions of 6.6 million tCO2e. We have continued to advance our methane monitoring and reduction efforts, achieving a 22% decrease in methane emissions compared to 2023. We expanded carbon capture, grew our portfolio of low-carbon ammonia, continued to invest in low-carbon hydrogen and grew our renewables energy capacity to 51GW through our shareholding in Masdar. We also launched XRG, a transformative international energy investment company, focused on natural gas, chemicals and scalable energy solutions. Its portfolio includes operating and non-operating interests in industry-leading companies that are meeting the rapidly increasing global demand for energy and the chemicals that are essential to enable sustainable economic growth. In 2024, we fast-tracked our AI ambitions, enhancing and accelerating our strategy, driving efficiency and growth while reducing emissions. We deployed new AI solutions across our business and delivered energy solutions to power AI. We trained over 40,000 employees in AI to help ensure our people remain at the heart of ADNOC’s transformation. From enabling local manufacturing and job creation, to investing in education and training, we continued to drive prosperity and help build a UAE economy that is future ready. We returned $14.9 billion (AED 55.0 billion) to the UAE economy in 2024. Additionally, $19.6 billion (AED 72.3 billion) worth of products in our procurement pipeline were locally manufactured. To empower people, we created 7,000 new jobs for UAE Nationals in the private sector, bringing the total number of jobs created to 18,500 since 2018. Throughout the year, we remained focused on operating with integrity and care: for our people, the environment and the communities we serve. We also took important steps to protect the environment, including planting more than 2.8 million mangroves across the last two years as part of our large-scale mangrove restoration program. Everything we do is underpinned by our commitment to the highest standards of health and safety, a core value that is integral to our culture. We are deeply saddened to have experienced two fatalities in 2024 and have taken immediate steps to reinforce our safety protocols. The loss of our colleagues has strengthened our determination to uphold safety while fostering meaningful change. As we move forward, we are guided by a simple but powerful belief: energy is a force for good that drives progress and improves lives. At ADNOC, we will continue to act with clarity and conviction to help shape a sustainable future for all.
ADNOC Sustainability Report 2024: Driving Progress & Prosperity Page 2 Page 4