Oman Arab Bank
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
Total Carbon Emissions:15,599 tCO2e
Scope 1 Emissions:251 tCO2e
Scope 2 Emissions:2,811 tCO2e
Scope 3 Emissions:12,537 tCO2e
Total Energy Consumption:4,368,892 KWH
Water Consumption:5,987,286 Litres
Waste Generated:1,186 KG (paper)
ESG Focus Areas
- Environmental Responsibility
- Community Partnerships
- Financial Inclusion
Environmental Achievements
- Supported a virtual fundraising event for the Environment Society of Oman (ESO), raising over OMR 100,000.
- Launched an eco-friendly calendar.
- Repurposed 62 items of furniture.
- Participated in Earth Hour.
- Saved 1,498 kg of old stationery items, CDs, and old devices from landfill.
Social Achievements
- Donated 500 meals to frontline workers during Ramadan.
- Donated 1,017 kg of food to Dar Al Atta’a for World Food Day.
- Donated OMR 500,000 to the Ministry of Health to support COVID-19 efforts.
- Launched a debt exemption initiative to help those facing financial difficulties.
- Launched an e-learning initiative for 460 special needs students.
- Offered loan deferrals to customers impacted by the pandemic (4,362 requests).
Governance Achievements
- Implemented Wiqaya health and safety guidelines for employees during the pandemic.
- Established a grievance mechanism for employees.
- Implemented a crisis management team to mitigate pandemic-related disruptions.
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impacting operations and stakeholder engagement.
- Need to balance social responsibility initiatives with commercial activities.
Mitigation Strategies
- Implemented remote work and enhanced online services.
- Developed and implemented Wiqaya health and safety guidelines.
- Adjusted sustainability framework to address pandemic-related limitations (e.g., employee volunteering).
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI Standards: Core option, GRI G4 Financial Services Sector Disclosures, UNGC Principles
Third-party Assurance: Internal assurance process
UN Sustainable Development Goals
- SDG 1
- SDG 3
- SDG 5
- SDG 8
- SDG 10
- SDG 12
- SDG 13
- SDG 16
The report mentions alignment with various SDGs across environmental, social, and governance strategies and initiatives.
Awards & Recognition
- Excellence Award in Social Responsibility
- Excellence in Digital Banking award at the Alam Al-Iktisaad Magazine awards ceremony
- Leadership in Agile Banking’ award at the New Age Banking Summit