Oman’s green revolution gains global acclaim

  • Date: 10-Feb-2024
  • Source: The Arabian Stories News
  • Sector:Technology
  • Country:Oman
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Oman’s green revolution gains global acclaim

The Sultanate of Oman is emerging as a beacon of green innovation on the global stage.

The post Oman’s green revolution gains global acclaim appeared first on The Arabian Stories News.Muscat – The World Bank’s recent report highlights Oman’s proactive approach towards a green economy, emphasizing the nation’s adoption of ambitious goals to combat climate change and achieve carbon neutrality by 2050. Central to Oman’s green transformation is the ambitious target of generating 30 per cent of its electricity from renewable sources by 2030, underscoring its commitment to clean energy adoption.

Recognizing Oman’s pivotal role in driving regional sustainability efforts, the World Bank notes a growing trend among oil-producing nations, including Gulf Cooperation Council (GCC) countries, towards embracing clean energy initiatives. With the GCC poised to lead the transition to a low-carbon economy, Oman stands at the forefront, leveraging its resources and capabilities to spearhead this monumental shift.

Moreover, the International Finance Corporation highlights the immense economic potential of supporting low-carbon investments, projecting significant job creation and reduction of greenhouse gas emissions by 2030. This underscores the dual benefit of green growth, not only in mitigating climate change but also in fostering economic diversification and prosperity.

Fitch Ratings further reinforces Oman’s competitive advantage