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ADNOC secures $2 billion K-SURE green financing to fund low-carbon projects

ADNOC adds $2b K-SURE green loan, taking its total green funding to $5b in 18 months

Last updated: December 19, 2025 | 11:15

Nivetha Dayanand, Assistant Business Editor

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New facility supports lower-carbon investments in alignment with ADNOC’s Sustainable Finance Framework

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Dubai: ADNOC has secured a new $2 billion green financing facility backed by Korea Trade Insurance Corporation, taking its total green funding to $5 billion within just 18 months and underscoring how seriously the company is leaning into sustainable finance as it grows its business.

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Under the new agreement, ADNOC has signed a $2 billion (Dh7.34 billion) green financing facility backed by Korea Trade Insurance Corporation to support lower-carbon projects across its portfolio. The deal 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, where he met K-SURE President and Chairman Youngjin Jang to cement the partnership.

The facility is structured under ADNOC’s Sustainable Finance Framework, meaning proceeds will be directed to projects that meet defined environmental criteria and comply with recognised sustainable finance standards. Sustainable Fitch has issued an independent Second Party Opinion confirming that ADNOC’s framework aligns with global sustainable finance principles, a key step in giving lenders confidence that the funds are being used as promised.

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Part of a fast-growing green finance pool

This is ADNOC’s first green facility backed by a Korean export credit agency and follows a $3 billion (Dh11 billion) deal closed in 2024 with the Japan Bank for International Cooperation. Taken together, the JBIC transaction and the new K-SURE facility lift ADNOC’s total green funding to $5 billion (Dh18.35 billion) in just a year and a half, building a track record that will matter as the company returns to sustainable debt markets in future.

Khaled Al Zaabi, ADNOC Group Chief Financial Officer, said, “Through our partnership with K-SURE, we are expanding access to green finance, deepening our economic ties with South Korea and strengthening ADNOC’s position as a leader in lower carbon energy.” First Abu Dhabi Bank is acting as Green Loan Coordinator, while Santander is the export credit agency coordinator on the transaction.

Linking funding to decarbonisation targets

ADNOC positions itself as one of the least carbon‑intensive oil and gas producers globally and has pledged to cut its operational carbon emissions intensity by 25% by 2030. To support that, the company is investing about $23 billion (Dh84.4 billion) in decarbonising its operations and accelerating new energy businesses in areas such as hydrogen, geothermal and renewables.

The green facility is expected to channel capital toward these types of initiatives, including lower‑carbon infrastructure and technologies that directly reduce emissions from ADNOC’s core operations. By using an ECA‑backed structure with K‑SURE, ADNOC can access competitively priced funding while still retaining flexibility in how it phases its portfolio of qualifying projects.

Nivetha DayanandAssistant Business Editor

Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

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