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ADNOC

ADNOC, the UAE’s leading energy company, has completed its acquisition of OCI Global’s majority stake in Fertiglobe. This move cements ADNOC’s 86.2% ownership of Fertiglobe, with 13.8% remaining publicly traded on the Abu Dhabi Securities Exchange (ADX). The acquisition marks a critical step in ADNOC’s strategy to dominate the global low-carbon ammonia market and further its ambitions in chemicals.

Dr. Sultan Ahmed Al Jaber, ADNOC’s Managing Director and Group CEO, highlighted the importance of this acquisition, stating, 

“ADNOC’s majority shareholding in Fertiglobe marks another milestone in the delivery of our ambitious international chemicals growth strategy and goal to become a top five chemicals player. Fertiglobe will be the vehicle through which ADNOC advances its low-carbon ammonia business, supporting our efforts to enable a just, orderly, and equitable global energy transition.”

Fertiglobe: A Rising Power in Low-Carbon Ammonia

Ammonia is a key solution for decarbonizing industries like marine fuel, power, and agriculture, which account for 80% of global emissions. 

Fertiglobe, the world’s largest seaborne exporter of urea and ammonia, is a strategic asset in ADNOC’s chemical growth. It exports nitrogen products to 53 countries and holds a 10% share of global ammonia and urea trade. Last year, the company shipped its first batch of ISCC PLUS-certified renewable ammonia from Egypt. This clean product will help produce near-zero emissions soda ash for Unilever in India.

Additionally, the company has delivered several low-carbon ammonia shipments from the UAE, using hydrogen and carbon capture technology. Its renewable ammonia cuts emissions by 73%, accelerating the shift to cleaner energy.

Fertiglobe recently achieved a major milestone by securing a €397 million renewable ammonia offtake contract through the H2Global initiative, further strengthening its leadership in the low-carbon ammonia sector. This contract is valid till 2033.

Fertiglobe ADNOC

Source: Fertiglobe

A Key Player in ADNOC’s Low-Carbon Fuel Ambition

Talking about the acquisition, ADNOC plans to integrate its stakes in existing and upcoming low-carbon ammonia projects into Fertiglobe. 

  • Significantly, this includes two major projects in Abu Dhabi, which will add 2 million tons per annum (mtpa) to Fertiglobe’s ammonia capacity. The company’s total capacity will increase from 1.6 mtpa to 8.6 mtpa, with more projects in the pipeline.

Thus, with ADNOC’s backing, Fertiglobe can become one of the top five global leaders in chemicals markets and low-carbon ammonia production, which is a key fuel in the energy transition.

Fertiglobe will continue its expansion under the leadership of CEO Ahmed El-Hoshy, who has been instrumental in building OCI’s ammonia and methanol business in the U.S. and Europe. He will lead the next expansion phase of Fertiglobe. The company’s current management team will remain intact as ADNOC rolls out the new strategy.

Moving on, Ahmed El-Hoshy, also highlighted the strategic importance of this move. He said,

 “This transaction reinforces our long-term outlook and ambition to meet global demand for low-carbon solutions. As part of ADNOC’s ecosystem, we are excited to unlock the full potential of our portfolio.”

Low-Carbon Fuels and Renewable Ammonia Expansion

Industry experts predict demand for low-carbon ammonia will grow to 24 million tons by 2032 and Fertiglobe is just capitalizing on this demand. It will further help ADNOC reach its target of capturing 5% of the global low-carbon hydrogen market by 2030. 

This aligns with the UAE’s National Hydrogen Strategy. The company plans to unveil a detailed growth strategy during its Capital Markets Day in Q1 2025, outlining its roadmap for further expansion and innovation.

ADNOC’s Sustainability Milestones 

We discovered from the company’s sustainability report that ADNOC is allocating $15 billion (AED 55 billion) to invest in various decarbonization projects, including carbon capture, electrification, new CO₂ absorption technology, hydrogen, and renewables. 

This investment will increase to $23 billion (AED 84.4 billion) in early 2024. Additionally, the company has raised its carbon capture capacity target to 10 mtpa by 2030. This is 2x its previous goal of 5 million tonnes. 

ADNOC

Source: ADNOC

By 2025, ADNOC aims to improve energy efficiency by 5% (based on 2018 levels) and keep upstream methane intensity below 0.15%. 

By 2030, it plans to produce 1 million tons of low-carbon ammonia annually, reduce operational emissions intensity by 25% (compared to 2019), and safely sequester 10 million tons of CO₂ per year. ADNOC is also targeting a 5% share of the global low-carbon hydrogen market and near-zero methane emissions in its operations. 

By 2045, the company plans to deploy 100 GW of renewable energy capacity through Masdar, eliminate routine flaring, and achieve net zero operational emissions.

In summary, ADNOC’s acquisition positions Fertiglobe to lead in the low-carbon ammonia market. The plan holds immense promise for sustainable energy growth in UAE and international markets while delivering long-term value to shareholders. 

The post ADNOC Boosts Stake in Fertiglobe for Global Low-Carbon Ammonia Growth appeared first on Carbon Credits.

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The Strategic Case for Nature-Based Carbon Investments

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Nature-based carbon investments deserve consideration when they address a specific business dependency and produce outcomes you can measure. Imagine Moonbucks, a global coffee roaster planning next season’s espresso blend. It is considering natural Grade 4 coffee from Jimma, in southwestern Oromia, Ethiopia. Its sourcing decisions affect the roasting schedule and the cash tied up in coffee purchases. Moonbucks needs to understand which measures could protect that supply, what they would cost and how it would judge the results.

1. Define the sourcing problem before choosing a project

Moonbucks needs a dependable component for its espresso blend. Its procurement team wants continuity of volume and an agreed cup profile. Replacing a shipment at short notice could require new sample approval and changes to the blend, and given the schedules for cultivation, processing, and freight delivery, is practically impossible. Moonbucks needs to get this right, and its initial concern is inconsistent deliveries. It commissions an assessment of the supplying farms and post-harvest chain. The questions cover land condition, harvest availability and whether drying or storage problems are affecting saleable lots.

This distinction changes the investment brief. A tree-planting proposal cannot be assumed to fix drying problems. Better storage cannot restore eroded land. The team must establish which problem exists before selecting the response.

CCC’s guide to finding nature-based solutions in your supply chain explains where to look. Here, the next task is to turn a broad concern into a testable proposal.

2. Develop nature-based carbon investments around the actual supply chain

The assessment would trace Moonbucks’ purchases back through the exporter and supplying producer groups. Which farms supply the contracted lots? Who controls land-management decisions? How long does the buyer expect to maintain the purchasing relationship?

Furthermore, Jimma natural Grade 4 cannot be treated as interchangeable with every Ethiopian coffee. Moonbucks would need to test any substitute against its own blend and quality requirements.

Suppose Moonbucks’ assessment identifies an opportunity to maintain shade trees and restore vegetation along exposed streambanks. The IPCC describes agroforestry as a way to store carbon in vegetation and soil, with potential benefits for erosion control and water quality.1 Moonbucks would need local advice on species, growing conditions and maintenance before deciding how these measures fit its sourcing plan.

The proposal now has a defined sourcing connection and a candidate intervention. The next steps are to test its effect on production, assess carbon eligibility and build the financial case.

3. Compare the proposal with other ways to protect supply

WBCSD’s Nature-based Solutions Blueprint recommends comparing nature-based options with other responses across their benefits and costs.2 For Moonbucks, that means evaluating the landscape proposal alongside drying improvements, storage controls and alternative sourcing arrangements.

The product’s natural-process designation matters. Moonbucks should examine the drying and dry-milling chain alongside land conditions. Its team would check storage practices, contamination risks and incoming-lot quality to see whether problems arise before or after the coffee leaves the farms.

The revised proposal might combine land stewardship with separate post-harvest controls. Each component needs its own purpose and budget. A sustainability label should not obscure which activity is expected to solve which problem.

The project develops as the evidence improves. Its scope should follow the diagnosis rather than preserve the first idea unchanged.

4. Establish what the carbon outcome could count toward

Moonbucks’ sustainability team now tests the proposed carbon case separately from the sourcing case. Is the objective a measurable change in Moonbucks’ value-chain emissions, verified credits for separate voluntary use, or distinct outcomes under carefully defined arrangements?

Scope 3 covers value-chain emissions. A purchasing relationship alone does not prove that a farm intervention can be included in Moonbucks’ inventory. The team needs an applicable accounting method, defensible boundaries and evidence supporting attribution.

SBTi’s FLAG Guidance (forest, land and agriculture), version 1.2, says purchased credits used as offsets cannot meet near-term FLAG or energy and industry targets. Eligible land-based removals are subject to accounting requirements.3 Moonbucks needs to test its proposal against those rules before including an outcome in its targets.

For Moonbucks’ Jimma proposal, maintaining existing trees and establishing new vegetation could involve different carbon questions. Specialists must examine the baseline and additionality, meaning what changes because the project proceeds. They must also assess measurement and the risk that stored carbon is lost. CCC’s MRV and additionality article introduces those tests.

Until that work is complete, Moonbucks should not budget an assumed Scope 3 reduction or credit-sale receipt. Direct emissions reductions remain the priority.

5. Build a financial case that survives weaker assumptions

Moonbucks’ finance team would now build a multi-year budget. UNEP’s State of Finance for Nature 2023 compares current finance with the investment needed to meet climate, biodiversity and land-restoration goals.4 The company would cost its proposed activities, farmer participation and ongoing monitoring. Verification, where required, is a separate expense. Maintenance and responsibility for replacing failed plantings must remain visible after the initial establishment budget ends.

Operational benefits need equally careful treatment. If fewer rejected lots reduce emergency purchasing, count that saving once. Do not add “supply resilience” as another financial benefit when it represents the same avoided cost.

Moonbucks should compare a base case with slower benefits, higher implementation costs and no carbon revenue. It should also distinguish production outcomes from quality and shipment outcomes. A single good harvest would not prove that the landscape intervention caused better delivery performance.

A project can remain worth funding even when its carbon case needs more work. That decision must rest on the operational evidence and the company’s objectives, without unsupported environmental claims.

6. Fund a pilot with a clear expansion decision

Moonbucks’ first approval would fund a bounded pilot, rather than commit the entire sourcing program. Before spending, Moonbucks would agree on participating farms, responsibilities and the evidence needed at review.

Its scorecard could track farmer participation, implementation costs and plant survival, alongside accepted coffee volumes and lot-quality results. Carbon measurements would follow the selected method. Farm-level traceability must connect the intervention to the actual sourcing relationship.

Suppose Moonbucks’ review later finds that storage changes explain most quality improvements, while the land measures need longer observation. Those findings would shape the next decision: expand the proven component, adjust the landscape work or pause further spending. They would not justify crediting all improvements to tree planting.

This gives nature-based carbon investments a practical place in a multi-year strategy. Funding increases as the evidence supports it, and the project can change direction before a larger commitment.

Discuss a sourcing opportunity with CCC

Carbon Credit Capital’s nature-based supply-chain investment service uses its Dual-Value Model to examine supply-chain economics alongside potential sustainability outcomes.

Schedule a consultation to discuss your sourcing exposure and the questions to resolve before allocating capital.

Sources

  1. Intergovernmental Panel on Climate Change (IPCC), Climate Change 2022: Mitigation of Climate Change, Chapter 7, Agriculture, Forestry and Other Land Uses, section 7.4.3.3 (Agroforestry).
  2. World Business Council for Sustainable Development (WBCSD), Nature-based Solutions Blueprint, 5 June 2024.
  3. Science Based Targets initiative (SBTi), Forest, Land and Agriculture Science-Based Target-Setting Guidance, version 1.2, March 2026, section 3.1.4, pp. 37–38.
  4. United Nations Environment Programme (UNEP), State of Finance for Nature 2023, 2023.
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Carbon Footprint

How to buy plastic credits, and what to check before you do

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A plastic credit funds the collection of plastic waste in places where no formal system exists to collect it. Each credit represents a measured, independently audited quantity of plastic taken out of the environment or returned to use, tracked on a public registry.

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Carbon Footprint

EU carbon credit claims after 27 September 2026

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EU carbon credit claims changed on 27 September 2026, the day the Directive (EU) 2024/825 began to apply across the European Union. The change is narrow. It changes how a company can talk about the credits it buys. A product can no longer be called neutral on the strength of compensation alone; however, every specific, evidenced statement about what a company measured, reduced, and funded stays fully available.

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