ABU Dhabi National Oil Company (Adnoc) has set up a new business, Low Carbon Solutions & International Growth, in line with its ambition to achieve net-zero Scope 1 and 2 emissions by 2050. The Unted Arab Emirates giant said on Tuesday that the new business will "focus on renewable energy, clean hydrogen and carbon capture and storage [CCS], as well as international expansion in gas, liquefied natural gas and chemicals". The creation of the new business "builds on the company's successful track record in responsibly and sustainably supplying energy to the world", it said. Adnoc noted the new business will help in the "decarbonisation of its operations, energy efficiency and operational excellence, reductions in methane emissions, advancing carbon capture, utilisation and storage [CCUS] to cut [carbon dioxide] emissions and the use of renewable and other zero-carbon energy sources". Adnoc recently highlighted its ambition to achieve net-zero Scope 1 and 2 emissions by 2050 and is aiming to aggressively scale up investments in low-carbon solutions. Musabbeh Al Kaabi has been appointed as an executive director of the new business and will begin the role on 16 January.
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