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In January 2024, the Government of Oman, represented by the Ministry of Finance, took a historic step and unveiled a sustainable finance framework to aims to reduce its reliance on fossil fuels and attract environmental, social and governance (ESG) investors in line with the Government's efforts to promote foreign direct investment in the country. The framework outli...
The Muscat Stock Exchange (MSX) has become the first state regulator in Oman to issue environmental, social and governance (ESG) guidelines (Guidelines). The MSX was formerly known as the Muscat Securities Market, which was established in 1988 and continues to operate under Oman's Capital Market Authority, the regulator of publicly listed companies in Oman. The MSX underwe...
The production of hydrocarbons has a dominant role in Oman's economy with oil and gas representing around 60% of the total export income. Therefore, in November of 2022, Oman announced its Natural Strategy for an Orderly Transition to Net Zero by 2025, in line with its efforts to tackle climate change. It sets a pathway for unlocking sources including renewable energy and ...
Targets (5)
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- increase GDP per unit of energy use to 14.57 or top 40 countries by 2030 and to 74.69 or top 20 countries by 2040Economy-wide · Target year: 2040Source: Oman Vision 2040
- increase environmental performance index to 65.46 or top 40 countries by 2030 and to 74.69 or top 20 countries by 2040Economy-wide · Target year: 2040Source: Oman Vision 2040
- increase share of renewables of total energy consumption to 20% by 2030 and 35-39% by 2040Energy · Target year: 2040Source: Oman Vision 2040
- increase non-oil revenue to GDP ratio to 15% in 2030 and 18% in 2040Energy · Target year: 2040Source: Oman Vision 2040
- increase non-oil share of GDP to 83.9% in 2030 and 91.6% in 2040Energy · Target year: 2040Source: Oman Vision 2040