Mubadala Energy, the international energy firm based in Abu Dhabi, has announced significant progress in areas related to environmental, social, and governance (ESG) standards, achieving a remarkable 36.5% reduction in greenhouse gas emissions within Scope 1 and 2.
This announcement was made in their 2024 sustainability report, which also highlighted notable accomplishments in health and safety, community investment, and reinforced Mubadala Energy’s strong global governance record.
In addition to the overall decrease in emissions, the company recorded a substantial reduction in emissions intensity, dropping from 15.57 to 6.95 tons of CO2 equivalent per thousand barrels of oil equivalent, representing a 55% decline compared to the previous year due to carbon reduction initiatives and improved production efficiency.
The company also achieved an additional 12.8% decrease in gas flaring across its operational portfolio.
Mansour Mohammed Al Hamad, the Managing Director and CEO of Mubadala Energy, stated that with the rapid transformations taking place in the global energy sector, collaboration with trusted and responsible partners has become more crucial than ever. He emphasized that the company remains committed to placing sustainability and ESG standards at the core of its operations.
He further noted that the theme of this year’s sustainability report, “People, Energy, Impact,” reflects the company’s commitment to producing reliable, low-carbon energy that supports energy security priorities and drives the transition within the sector. This theme conveys the belief that human welfare and social impact must be central to the company’s business operations.
The company has maintained a leading record in health and safety, continuing to invest in the well-being and development of its employees. To date, over one million individuals have benefited from its community programs, extending its focus on people to the communities where the company operates.
From an environmental standpoint, the company made significant strides, recycling 56% of its total waste thanks to enhanced waste management practices. It also developed and launched its first carbon pricing policy to support its emissions reduction strategy and decision-making frameworks.
Regarding social aspects, the report showcases the achievements of 2024, including the company’s zero-fatality record since its inception, reflecting a proactive and precise health and safety culture, along with ongoing investment in employee development, where the average training hours reached 64 per employee.
The company has also maintained workforce diversity, boasting a team representing 32 nationalities and a percentage of female representation exceeding the industry average.
On the governance front, Mubadala Energy has strengthened its exceptional record, with no data breaches reported for the sixth consecutive year, in addition to establishing a committee for environment, social, and governance that is focused on setting clear performance indicators for emissions reduction and integrating all aspects of sustainability within a unified framework led by senior management.
The 2024 sustainability report was prepared in accordance with the Global Reporting Initiative (GRI) standards and partially aligns with the International Financial Reporting Standards S2 concerning climate disclosures, as part of the company’s efforts to enhance its reporting in line with emerging global standards.
The report reviews the impact of the company’s operations in 2024 through key performance indicators in areas such as operational impact, environmental contribution, social engagement, human capital, and governance.
Additionally, it provides a detailed assessment of Mubadala Energy’s contribution to achieving the United Nations’ key sustainable development goals.