Mubadala Energy reports strong ESG progress in 2024

Mubadala Energy, the Abu Dhabi-headquartered international energy company, has announced significant progress across key Environmental, Social, and Governance (ESG) drivers, including a 36.5% reduction in Scope 1 and 2 greenhouse gas (GHG) emissions.

The findings were published in the company’s 2024 Sustainability Report, which also highlighted advancements in health and safety, community investment, and governance.

In addition to cutting overall GHG emissions, Mubadala Energy recorded a 55% year-on-year reduction in emissions intensity, falling from 15.57 to 6.95 tons CO₂e per kboe, driven by decarbonisation initiatives and improved production efficiency. The company also reported a 12.8% reduction in flared gas across its portfolio.

Commenting on the report, Mansoor Mohamed Al Hamed, Managing Director and CEO, Mubadala Energy, said, "In a dynamic global energy environment, the role of reliable and responsible energy partners has never been more important for all stakeholders. We have continued to place sustainability and ESG at the heart of how we operate, and I am proud of the trust and collaboration our partners have shown us as a result."

He added, "This year's theme, ‘People, Energy, Impact’, underscores our commitment to produce reliable, lower carbon energy to address energy security priorities and support the energy transition. It also highlights that we continue to put people and social impact at the heart of how we do business. We’ve maintained our top-quartile HSSE record and continue to invest in employees’ wellbeing. And with over one million individuals benefiting from our community investment projects to date, our focus on people extends to the communities we operate in. As we embark on a new chapter of growth at Mubadala Energy, prioritising these ESG factors will be critical to our success."

On the environmental front, the company recycled 56% of total waste and launched its first carbon pricing policy to guide its decarbonisation strategy.

Social achievements included zero fatalities since inception, an average of 64 hours of training per employee, representation of 32 nationalities, and above-average female workforce participation.

Governance highlights included no data breaches for the sixth consecutive year and the creation of a dedicated ESG Committee to set KPIs for emissions reduction and sustainability initiatives.

Prepared in accordance with Global Reporting Initiative (GRI) Standards and partially aligned with the IFRS S2 Climate-related Disclosures standard, Mubadala Energy’s 2024 Sustainability Report details operational, environmental, social, and governance performance, alongside contributions to key UN Sustainable Development Goals.