Mandatory Climate Reporting in Oman: Embrace Sustainability

The Muscat Stock Exchange (MSX) has recently introduced comprehensive Environmental, Social, and Governance (ESG) guidelines for the Omani listed companies. These guidelines are intended to encourage sustainability reporting and conform to the country’s Vision 2040.

Starting in 2025, public companies will be required to submit standalone ESG reports aligned with the Global Reporting Initiative (GRI) Universal Standards. The guidelines provide ESG ratings on 30 factors including greenhouse gas emission, labor relations, and board diversity.

The MSX guidelines also focus on regional environmental initiatives, focusing on reducing single-use plastics and paper waste and encouraging recycling and clean energy, that complement the GCC’s 2022 ESG disclosure metrics.

By implementing these guidelines, Oman is taking a giant leap towards a more sustainable future, stimulating businesses to adopt eco-friendly policies and contribute into the further development of the state.