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Pact inked to develop emission reduction project in waste management

Business Tuesday 01/November/2022 17:59 PM
By: ONA
Pact inked to develop emission reduction project in waste management

Muscat: OQ Trading (OQT), the international energy and commodity trading arm of the Government of Oman and Oman Environmental Service Holding Company (be’ah) signed a cooperation agreement for the development of projects of emission reduction within the waste management industry in Oman.

The agreement signed is an important initiative in helping to reduce greenhouse gas emissions in the Sultanate of Oman in line with ministerial decision No. 30/2010 issued by the ‘earlier’ Ministry of Environment and Climate Affairs.

Greenhouse gas reduction forms an important part of be'ah's objective to structure the waste management sector and its related services sustainably.

The framework resulting from the cooperation agreement allows OQT to work collaboratively with be’ah to identify and develop projects which adhere to international emission reduction standards.

OQT has been at the forefront of Omani emissions efforts, having developed the first Omani carbon project in 2012 in conjunction with the Ministry of Energy and Minerals with the successful registration of Oman’s first Clean Development Mechanism (CDM) project.

The Certified Emission Reduction (CERs) credits issued by the project, alongside other Voluntary Emission Reduction (VERs) credits from projects that followed, have been successfully marketed to end-buyers – utilising OQT’s understanding of carbon project development, energy pricing and international markets.

OQT and be’ah will be together exploring multiple opportunities for projects within the field of waste management and waste-to-energy that will aid Oman’s decarbonisation and climate goals.

Through their engagement to date, some potential areas which have already been identified include biogas and methane reduction projects through the rehabilitation of landfills, as well as exploring the possibilities of various crediting systems related to recycling. The partnership will enable the delivery of efficient and environmentally sustainable services within the waste management sector in Oman, with sound economical returns by playing a role in serving the compliance and voluntary carbon markets internationally.