Oman launches ambitious green economy initiative to achieve net-zero by 2050

Oman’s Ministry of Economy has initiated a nationwide program focused on achieving the country’s "Green and Circular Economy" objectives. The initiative aims to assess the costs, benefits, and investment opportunities associated with reaching net-zero carbon emissions by 2050.

According to the Oman Vision 2040 Monitoring and Implementation Unit, the program aims to develop an economic framework that will support sustainable growth. This includes progress in areas such as investment in green industries, job creation, and skills development, with an emphasis on enhancing cross-sector collaboration.

Following Oman’s commitment to carbon neutrality, large-scale green projects and green molecule production plants are being established, particularly in the Duqm Special Economic Zone. The country is seeking to attract investment in areas such as green hydrogen production, green steel, and the production of low-carbon metal raw materials, utilizing solar and wind resources.

According to the Oman Vision 2040 report, “These efforts will not only support Oman’s sustainable economic growth but also enhance its global competitiveness as a green investment hub and contribute to achieving its carbon neutrality goals.”