Oman Vision 2040 prioritises balanced and resilient ecosystems to protect the environment and ensure sustainability of natural resources in support of the national economy.
The Sultanate of Oman aims to transform into a diversified economy by 2040. Aiming to produce 30% of electricity from renewables by 2030, strategies to reduce reliance on fossil fuels have been set in motion with focus on industries to look for smart energy services and behind-the-meter solutions.
We are committed towards investment in renewable and diversified energy sources. We aim to rationalise consumption to achieve energy security through independent power projects within solar, wind, and green hydrogen sectors.
The adoption of a ‘Circular Economy’ model in the management of waste streams advocates for the application of a ‘Reduce, Reuse, Recycle’ philosophy for all recyclable waste. This is aimed at stimulating the growth of economic activities and reducing the amount of waste filling up landfills.
Food security has been at the heart of Oman’s agricultural policy resulting in increased domestic production and reduced reliance on imports. The Sultanate of Oman has invested over US$4.9 billion in agriculture and fisheries-related projects, as well as upgrading existing infrastructure.
The country’s investments into green hydrogen have the potential to produce nearly 1 GW of energy by 2025. Commitments include supplying green hydrogen & derivatives with a sustainability framework to promote green shipping and energy efficient projects.
Oman is committed to its goal to achieve net zero carbon emissions by 2050 with increased economic value, industrial competitiveness and green investment opportunities.
Oman’s initiatives within the sector include shifting focus to greener infrastructure powered by renewable energy, green zones development along with installation of smart meters that provide the consumer with greater clarity on their consumption behaviour.
The Sultanate of Oman’s land-transport industry is set to experience a major overhaul with a transition to electric vehicles within an improved public transportation system.
The industrial sector is geared towards a circular economy through reduced dependency on non-renewable energy consumption and gas utilisation. Methods under implementation include carbon capture, utilisation, and storage (CCUS) along with controlled methane emissions with technological advancements.
Introduction and efficient implementation of sustainable renewable energy, waste to energy, and biofuels is the vital focus of the energy sector. Efficient usage of traditional fossil fuels to enhance gas production is another key objective within Oman’s Oil & Gas sector. Methods under implementation include CCUS along with controlling methane emissions.
Formed to ensure the implementation of the national Net Zero Plan in line with Oman Vision 2040, the center supports the sustainability initiatives and projects.
To ensure implementation of the national Net Zero Plan and to suggest strategies, policies, and regulations, the Center will collect, analyse and disseminate information while developing opportunities and activating implementation plans. The Center will also provide technical and advisory services to reduce GHG emissions.
The Business Environment Center will support the development of sustainable finance and circular economy programs. The Center will set specifications and standards to ensure infrastructure readiness for investment while improving business environments through financial and investment support.
The Center will coordinate local efforts with global expertise to merge best practices while providing financial support for research and development. This will enhance scientific research and innovation by initiation of demonstration projects for energy transition technologies.
A balance between environmental, economic, and social requirements, the Netzero Socioeconomic Center aims to rationalise energy consumption and contribute to sustainability through implementation of various awareness and educational programs while enhancing capacity building.