Tuesday 17 / September / 2024
Muscat: Businesses in Oman that want to improve their approach to environmental, social and governance (ESG) issues are encouraged to register for the second edition of the Living Business programme.
The programme, organised by Globally, Get in the Ring and HSBC, aims to improve the sustainability of businesses by helping them deliver a significant ESG enhancement initiative.
Participants will be provided with one-on-one coaching with ESG experts to help them achieve their goals. The companies that show the most promise will present their initiatives at the UK pavilion at Expo 2020 Dubai, with winners invited to attend a course at the Institute for Sustainability Leadership at The University of Cambridge.
Simon Adcock, Head of Commercial Banking in HSBC Bank Oman, said, “At HSBC, we recognise the potential impact of climate change. Therefore, we aim to accelerate our efforts to build a sustainable future in the communities we serve and to help our customers in their transition to a low carbon economy.”
“Living Business is yet another step towards achieving this goal, and it complements the other initiatives taken by HSBC Oman to support Omani businesses to contribute to achieving a green and circular economy that is responsive to national needs,” he added.
Applications are open to all active businesses in Oman, Bahrain, Egypt, Qatar and the UAE who are prepared to implement a project that will have a significant ESG impact such as:
Reducing the business’s or industry’s environmental footprint
Enhancing the social capital of the business through initiatives such as improving the health, safety, wellbeing or skills of its staff or the wellbeing of its customers
Creating a sustainable governance framework, including engagement, reporting and transparency.
Daniel Howlett, HSBC’s Head of Commercial Banking in the Middle East, North Africa and Turkey, said, “If the world hopes to achieve its climate targets, the business has to become more sustainable. Our latest Navigator Report told us that 98 per cent of companies in the Middle East see multiple opportunities for improving their environmental and ethical sustainability, so we do feel optimistic.”
“HSBC is committed to helping our customers make the transition to a low-carbon future, not only by providing green and sustainable finance but also by sharing our knowledge and expertise,” he added.
Last October, HSBC set out an ambitious plan to prioritize financing and investment that supports the transition to a net-zero global economy – and helps to build a thriving, resilient future for society and businesses. At the heart of the plan is a pledge to reduce financed emissions from HSBC's portfolio of customers to net-zero by 2050 or sooner, in line with the goals of the Paris Agreement.
The bank also aims to become net zero in its operations and supply chain by 2030. Towards this end, HSBC Oman’s head office in Muscat is advancing towards a greener future with an innovative solar grid over its car park, which will generate enough power every day to provide about half of the building’s energy needs.
