ADNOC Finalizes $2 Billion Green Loan with K-SURE Support

ADNOC has reinforced its commitment to sustainable financing by securing a $2 billion green loan, supported by the Korea Trade Insurance Corporation (K-SURE). This brings the total green funding the energy company has raised to $5 billion over the past 18 months, demonstrating its dedication to lower-carbon projects and future-ready energy strategies.

The announcement was made during Dr. Sultan Al Jaber's visit to South Korea, where he met K-SURE President Youngjin Jang to formalize the agreement, enhancing economic collaboration between the UAE and South Korea.

Funding Meets Sustainability Standards

Structured under ADNOC’s Sustainable Finance Framework, the $2 billion loan ensures that funds are used for projects compliant with strict environmental criteria. Sustainable Fitch has issued a Second Party Opinion confirming the alignment of this framework with global sustainable finance standards, bolstering transparency and lender trust.

This partnership marks ADNOC's inaugural collaboration with a Korean export credit agency, following a $3 billion agreement with the Japan Bank for International Cooperation (JBIC) in 2024, thus establishing a solid foundation in green financing while enhancing its competitive stance in sustainable debt markets.

Accelerating Decarbonization Efforts

Khaled Al Zaabi, ADNOC's Group CFO, noted that this collaboration with K-SURE not only improves access to sustainable financing but also strengthens ties with South Korea. First Abu Dhabi Bank acts as the Green Loan Coordinator, while Santander serves as the export credit agency coordinator.

Commitment to reducing operational carbon intensity by 25% by 2030 emphasizes ADNOC's strategy, with $23 billion allocated for decarbonization and new energy projects including hydrogen, geothermal, and renewable technologies aimed at emission reduction.

The new facility's capital is expected to bolster these initiatives, enhancing lower-carbon infrastructure and emissions-reduction technologies. ECA-backed financing allows ADNOC to enjoy competitive rates and flexibility in funding various qualified projects.

Partnerships for Sustainable Progress

This agreement exemplifies ADNOC's strategy of harmonizing growth with a responsible energy transition. Focusing on certified green finance and international alliances allows ADNOC to solidify its position as a lower-carbon energy provider and enhance global investment relationships.

Ultimately, the K-SURE-backed loan not only expands ADNOC’s green capital but also reinforces its long-term aim of decarbonization, fostering a more sustainable energy future as the company diversifies its portfolio.