Net-Zero Transition: What’s Involved?

Net-Zero Transition: What’s Involved?

Tejarah Talks helping inform, inspire and empower Omani SMEs to take meaningful climate action

Muscat - Tejarah Talks, the popular Oman Business Forum initiative organized in association with the Ministry of Commerce, Industry & Investment Promotion (MoCIIP) is back with a new discussion session titled ‘Oman's Journey to Net-Zero: An Environment for Enterprise?’ This edition of Tejarah Talks is supported by Jindal Shadeed, Sustainable City - Yiti, Nortal, Omantel and OmanFM and will take place 7:30pm, Wednesday 17 May at Omantel’s Head Office in Airports Heights.

The event aims to provide a platform for Omani SMEs to learn about the latest developments in sustainable practices and climate-related regulations, helping them develop strategies to achieve net-zero emissions by 2050. As SMEs make up 90% of all businesses and employ 70% of the world's workforce, their role in achieving climate goals is key. This Tejarah Talks session is designed to inform, inspire and empower local businesses to take meaningful climate action and seize the opportunities presented by Oman's green transition.

Maymuna Al Adawi, MoCIIP Director, Public Private Partnerships and organizer of Tejarah Talks, highlighted the importance of helping small businesses develop net-zero strategies, saying: “SMEs are the backbone of Oman's economy. They play a significant role in creating jobs and contributing to our GDP. However, they also have a responsibility to reduce their carbon footprint and contribute to Oman’s 2050 net-zero emissions target. Every step an SME takes on its journey to net-zero adds up - not only in protecting the health of the planet but also in future-proofing their business, attracting new investment and customers as well as creating new opportunities for growth.”

The 17 May session will cover a range of topics related to net-zero, including renewables, energy efficiency, carbon pricing and climate legislation. The panel of experts include His Highness Sayyid Dr. Adham Al Said, Co-founder of The Firm; Fadi Al Shihabi, KPMG Partner & ESG Services Lead; Hilal Al Ghaithi, Director, Energy, Authority for Public Services Regulation; Walter Simpson, Managing Director, CC Energy Development; and Ammar Al Kharusi, Group Head of Development, OMRAN.

In line with Oman’s ambitions to become a low-carbon economy and reach net-zero emissions by 2050, the sultanate’s CO2 emissions per capita fell 16 per cent between 2015-2020, according to an EY MENA Climate Change Readiness Index report. Within the GCC, Oman’s carbon emissions per capita were the lowest at 15.3 metric tonnes. The report also highlighted Oman’s National Strategy for Adaptation and Mitigation to Climate Change 2020-2040 and its support for sustainability focused start-ups. The strategy is intended to be a catalyst to spur local climate action and facilitate Oman’s move to a low-carbon economy.

According to MoCIIP’s Al Adawi, the 17 May Tejarah Talks will help businesses understand the new commercial opportunities presented by Oman’s ambitious green transition. Going green will not just help local businesses drive revenue and solidify their reputation, it will also help the planet. Collectively, SMEs contribute enormously to the global economy and given their flexibility are well-suited to champion Oman’s eco initiatives and become part of a green solution.

“We have an exciting opportunity to come together to tackle climate change. We all need to play our part and as SMEs make up the majority of Oman's business community it is critical they get involved,” said Al Adawi. “Achieving net zero emissions is a crucial step towards ensuring a sustainable future for ourselves and future generations.”