Abu Dhabi National Energy Company PJSC (TAQA) becomes first GCC organisation to join the Global Fight against Climate Change.
The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Market (ADSM:TAQA) has become the first GCC company to be invited to join the 3C (Combat Climate Change) Initiative, a global opinion group of prominent business leaders demanding integration of climate issues into markets and trade.
As the first member from a non G8 + 5 country, TAQA joins forces with business leaders from nearly 50 large organisations committed to contributing to a common vision of a low emitting, sustainable society. The 3C Initiative’s goal is to set a global limit to the maximum temperature increase and define emission reduction targets for 2030 and 2050 based on the best available research. 3C members aim to lobby governments to create a series of policies that will enable targets to be met.
Peter Baker Homek, CEO, TAQA, said, “I am delighted TAQA has been invited to join the 3C Initiative. As a signatory, we have committed to play a pro-active role in combating climate change, and as the first GCC member, we hope to set a precedent in the region.”
“As a new company with a vision to become a global player in the energy sector, I believe we have a responsibility to lead the way in cutting greenhouse gas emissions and support the move towards a low emitting economy. We aim to excel at everything we do, and contributing to a sustainable society as an organisation is no exception. The continuous assessment and improvement of the environmental performance of our facilities, whether management office or power plant, is a fundamental part of our business.”
As a company in the midst of an active acquisition phase, environmental performance is an important factor taken into consideration by TAQA during the evaluation of prospective purchases. Barker Homek added, “We may also look to adding non greenhouse gas emitting power generation sources to the portfolio such as wind, solar or geothermal in the future.”
On a day to day basis, TAQA’s operations around the world are focussed on taking steps to monitor and reduce emissions of harmful greenhouse gases, such as carbon dioxide (CO2) and nitrogen oxides produced in combustion (NOx). Emission reduction initiatives include the introduction of solar powered equipment to eliminate the venting of greenhouse gases, upgrades to new technology to reduce fugitive, vented and flared methane, and the purchase of compression equipment prime movers (engines) with improved fuel performance.
