OWWSC, OQ Trading ink pact on Emission Reduction Purchases

In line with national plans and the global drive to achieve zero carbon neutrality, Oman Water and Wastewater Services Company (OWWSC), a member of Nama Group, signed an agreement with OQ Trading, a wholly-owned commodity trading company of OQ Group, for supporting Emission Reduction Purchases (ERP) governed by the Clean Development Mechanism programme under the United Nations Framework Convention on Climate Change.

The agreement was signed on November 1, 2022 at the Environment Authority premises, and in the presence of Dr Abdullah bin Ali al Amri, Chairman of Environment Authority. The agreement was signed by Qais bin Saud al Zakwani, CEO of OWWSC, and Said al Maawali, OQ Trading Executive Director – the Middle East.

Under this agreement, OQ Trading will purchase the approved units to reduce carbon emissions of methane from Kala Compost, as regulated by the UN Clean Development Mechanism scheme, where each unit represents the equivalent of a metric tonne in a unit of carbon dioxide equivalent (CO2e).

Qais bin Saud al Zakwani, CEO of Oman Water and Wastewater Services Company, said: “Today we have signed this agreement to be in line with Oman’s objective of Net Zero Emissions by 2050 (NZE 2050). The agreement covers a methane reduction project in Oman and is exploring other opportunities for collaboration in decarbonisation activities in line with government initiatives within the Sultanate.”

Al Zakwani added that the agreement is a reflection of the company’s efforts and commitment to the environment and aligned with the global trend in optimally dealing with global warming and protecting the ozone layer by addressing the carbon emissions resulting from the treatment of sewage waste represented in methane gas.

He added that this agreement confirms the achievement of this benefit as the company seeks in the coming future to redouble its efforts in this aspect and in line with national plans and global trends.

Said al Maawali, Executive Director – Middle East at OQ Trading stated: “With this ERP Agreement having taken place, OQT and OWWSC will be looking into further opportunities to develop projects which can reduce emissions and drive decarbonisation in the Sultanate. The possibility of enabling clean water for communities and reducing the carbon footprint in line with Oman’s NZE 2050 targets is a goal both companies are keen to work together towards.”