ADNOC is headlining the COP28 climate discussions in Dubai, forcing the oil giant to consider a rebrand ahead of the global event – a move that other fossil fuel companies have made. But ADNOC is different because its chief executive is the president delegate of the worldwide climate talks.
While CEO Sultan Al Jaber is extremely serious about reducing emissions worldwide, he faces the quintessential paradox: he heads an oil company at the same time he will chair negotiations to cut CO2 releases worldwide. Indeed, the Abu Dhabi-based oil company is increasing production; however, it aims to cut the carbon intensity of each barrel of oil.
In an interview, the CEO told this writer that his country is “walking the walk” by investing in renewable projects around the globe and is growing its own green energy portfolio. Addressing climate change is “right” while also making “perfect economic sense.”
According to leaked documents from the Centre for Climate Reporting, ADNOC will change its name before the COP28 meeting in December. It’s about “future-proofing” the company – something other oil giants have done: BP rebranded and became Beyond Petroleum. Meanwhile, Total became TotalEnergies, and Statoil changed its name to Equinor.,