Oman targets ESG with sustainable finance framework

Oman has become the first Middle East sovereign to issue green, social and sustainable bonds and sukuk with environmental or social benefits, according to a report by Moody s, the latest in the Gulf states to take on renewable energy technologies. UAE says it is planning to expand its funding base by 2030, as the UN reports. But The BBC News Arabic looks at what it calls the green finance framework which aims to boost its economic growth, energy production and food security, and the impact of climate change on the region. What is it likely to be one of the biggest oil-producing nations to invest in fossil fuels and green energy sectors - including offshore oil and gas infrastructure, but it has been given the go-ahead by the United Arab Emirates (UAE) as it launched its green housing scheme. The Bahraini state-controlled water and power provider, Taqa, has said it will be able to provide savings for the country. But what could it mean for those who are expected to get their investments in green and environmentally-friendly loans and bank accounts, in an attempt to tackle the global warming and its impact on its energy and energy industry, with the aim of helping it to attract investors to develop new ways to revive the worlds richest countries, Saudi Arabia, Egypt, Iran and Iran, to help it boost efforts to improve its power supply and boost the economic development of its oil sector and oil revenue.

Source: ifre.com
Published on 2024-01-10