MUSCAT: Oman has a stronger commitment towards transitioning into a green economy based on sustainable practices, financial and accounting consultancy Crowe Global has said in its report.

In a new report published on her website, the consultancy has stated that Oman is one of the signatories to the Paris Agreement on the Climate Action Plan that was implemented in 2020.

Oman’s action plan to combat the effects of climate change is contained in the national strategy for climate change adaptation and mitigation.

This further aims to determine the impact of climate change on sustainable development which includes agriculture, livestock, water resources, coastal areas, infrastructure, industries, biodiversity, and human health and well-being.

The report also stated that in the Sultanate of Oman through various sectors of the national economy are in line with the strategic objectives of Oman’s Vision 2040.

It added that efforts to mitigate and adopt climate change produce opportunities, such as resource efficiency, cost savings, adoption of low-emissions energy sources, development of new products and services, access to new markets, and building resilience along the supply chain have been taken by the Sultanate.

Climate-related opportunities may vary depending on the region, market and industry in which the organisation operates. Many governments offer grants and tax exemptions to organisations that adopt such practices.