The Sultanate of Oman is set to introduce mandatory sustainability disclosures for listed companies, a move aimed at promoting transparency and accountability in the corporate sector.
What the new regulation entails
The new regulation will require listed companies to disclose their environmental and social impact, providing stakeholders with a clearer picture of their sustainability performance.
The regulation will cover a range of sustainability metrics, including greenhouse gas emissions, water usage, and waste management.
According to Zawya UAE, the regulation is expected to come into effect in the second quarter of 2026, with listed companies required to submit their first sustainability reports by the end of the year.
The new regulation is part of Oman's efforts to position itself as a leader in sustainable development and to attract foreign investment.
Supporting Oman's sustainability vision
The introduction of mandatory sustainability disclosures is a key component of Oman's sustainability vision, which aims to reduce the country's carbon footprint and promote sustainable economic growth.
As part of this vision, Oman has set a target to reduce its greenhouse gas emissions by 20% by 2028, compared to 2020 levels.
The country has also committed to increasing its renewable energy capacity to 30% of its total energy mix by 2030.
The new regulation is expected to support these targets by providing a framework for companies to report on their sustainability performance and enabling stakeholders to make informed investment decisions.
Boosting transparency and accountability
The introduction of mandatory sustainability disclosures is a significant step towards boosting transparency and accountability in Oman's corporate sector.
By providing stakeholders with a clearer picture of listed companies' sustainability performance, the new regulation is expected to promote a culture of transparency and accountability among companies.
The regulation will also enable investors to make more informed decisions, as they will have access to a wider range of information about the companies they are considering investing in.
According to a report by Zawya UAE, the new regulation is expected to benefit both listed companies and stakeholders, with companies able to improve their reputation and attract new investors, while stakeholders are able to make more informed investment decisions.
Implementation and next steps
The implementation of the new regulation will be overseen by the Capital Market Authority (CMA) in Oman, which has been working closely with listed companies to ensure a smooth transition.
The CMA has established a task force to oversee the implementation of the new regulation, which will provide guidance and support to listed companies as they prepare their sustainability reports.
The task force will also work with stakeholders to raise awareness about the new regulation and its benefits, and to provide training and support to listed companies as needed.
