As part of its ongoing efforts to enhance awareness of global economic and financial developments and support its corporate customers, Bank Muscat, the leading financial services provider in the Sultanate of Oman, organised a specialised workshop on “Climate Risk and Sustainability”. The workshop brought together a number of the bank’s corporate and institutional customers representing various economic sectors.
The workshop forms part of Bank Muscat’s continued efforts to implement its Climate Risk Management Framework and strengthen sustainability practices in line with the regulatory requirements of the Central Bank of Oman, national objectives under Oman Net Zero by 2050 strategy and international best practices. It also aims to support corporate customers in understanding the growing impact of climate-related risks on businesses, the financial sector, and the broader economy.
The event featured a series of presentations delivered by experts from True North Partners, covering key sustainability concepts and Environmental, Social and Governance (ESG) principles highlighting the importance of integrating these considerations into business strategies. Participants were also introduced to practical case studies demonstrating how ESG practices can enhance organisational performance, strengthen risk management capabilities and support sustainable growth.
The workshop further explored the rapid developments taking place across the global financial sector in relation to climate risk management, emphasising the importance of preparing organisations to meet future requirements concerning sustainability disclosures and climate-related risk assessments. These efforts contribute to strengthening long-term business resilience and sustainability.
Commenting on the initiative, Afaf bint Ali Moosa, Assistant General Manager, Large Corporates, Bank Muscat said: “At Bank Muscat, we are committed to organising knowledge-sharing initiatives that reinforce our partnership with customers by providing innovative banking solutions and services and also by equipping them with valuable insights that enable them to navigate today’s rapidly evolving economic and financial landscape. This workshop comes at a time when sustainability and climate risks are becoming increasingly important factors influencing business, investment and financing decisions. We remain committed to advancing our sustainability agenda by developing a comprehensive climate risk management framework aligned with regulatory requirements and international best practices. We firmly believe that the success of these efforts depends on continuous collaboration with our customers and partners to enhance awareness, build capabilities, prepare for future challenges, and transform them into opportunities for growth and innovation.”
The workshop conducted by True North Partners, UK also featured interactive discussions between participants and industry experts on the key challenges and opportunities associated with the transition towards a more sustainable economy. Discussions highlighted the role of financial institutions and businesses in supporting this transition as well as the importance of embedding ESG considerations into business models and future growth strategies.
Bank Muscat continues to implement a wide range of initiatives and programmes aimed at embedding sustainability principles and promoting responsible business practices across all aspects of its operations. As a trusted banking partner, the bank remains committed to supporting the Sultanate’s sustainable development objectives and Oman Vision 2040. The bank also reaffirms its commitment to organising specialised awareness programmes and knowledge-sharing events that enable customers to stay informed of the latest developments in the financial and economic sectors while fostering the exchange of expertise and strengthening the readiness of businesses to adapt to future changes.
