Climate Change Data

BankDhofar SAOG

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:329.69 tCO2e/year (2022)
Scope 1 Emissions:181.65 tCO2e/year (2022)
Scope 2 Emissions:148.04 tCO2e/year (2022)
Total Energy Consumption:4060.26 GJ/year (2022)
Water Consumption:34,136 m3/year (2023)
Carbon Intensity:0.20 MT CO2e/employee (2022)

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 50% reduction in complaints related to tube lighting after replacement with LED lamps
  • Implementation of a digital onboarding platform reducing the need for physical travel to branches

Social Achievements

  • Launched an Employee Engagement survey resulting in an 80% participation rate and a 70% engagement score
  • Expanded branch network to 129 branches, significantly enhancing nationwide coverage
  • Introduced digital onboarding, enabling more customers to open accounts through digital means
  • Launched new segments for Child, Youth, Ladies, Rifaa and Riadah priority banking

Governance Achievements

  • Implementation of the ‘Financial Action Task Force (FATF) Anti-Money Laundering (AML) Compliance Design & Implementation Program’ concluded in May 2022
  • Established a Customer Feedback Department to effectively operationalize the Bank’s commitment to delivering an unmatched customer experience

Climate Goals & Targets

Long-term Goals:
  • Achieving Net Zero Emissions by 2050
Medium-term Goals:
  • Developing an ESG Risk Integration policy
  • Developing a Sustainable Finance Framework
Short-term Goals:
  • Developing a comprehensive GHG emissions inventory including financed emissions
  • Developing a water consumption efficiency action plan including defining ambitious efficiency targets
  • Developing a circularity in the workplace action plan including the development of waste reduction and recycling targets

Environmental Challenges

  • Managing climate-related risks and opportunities impacting financial performance
  • Potential data breaches and vulnerability to evolving privacy regulations
Mitigation Strategies
  • Developing an ESG Risk Integration policy to manage material ESG risks and opportunities
  • Investing in advanced cybersecurity measures to protect against evolving threats and ensure the safety of customer data

Supply Chain Management

Responsible Procurement
  • Supplier Due Diligence Checklist
  • Aim to implement a Supplier Code of Conduct policy

Climate-Related Risks & Opportunities

Opportunities
  • Project finance for renewable and clean energy projects

Reporting Standards

Frameworks Used: GRI Standards 2021 Update, Muscat Stock Exchange’s ESG Guidelines, United Nations Sustainable Development Goals (SDGs), Oman Vision 2040, All applicable rules and regulations issued by the Central Bank of Oman (CBO) and the Capital Market Authority (CMA)

Certifications: ISO/IEC 27001:2013

UN Sustainable Development Goals

  • SDG 1: No Poverty
  • SDG 3: Good Health and Well-being
  • SDG 4: Quality Education
  • SDG 5: Gender Equality
  • SDG 6: Clean Water and Sanitation
  • SDG 7: Affordable and Clean Energy
  • SDG 8: Decent Work and Economic Growth
  • SDG 10: Reduced Inequalities
  • SDG 11: Sustainable Cities and Communities
  • SDG 12: Responsible Consumption and Production
  • SDG 13: Climate Action
  • SDG 16: Peace, Justice and Strong Institutions

The Bank’s operations contribute to these goals through various initiatives such as financial inclusion programs, SME support, employee well-being programs, and sustainable finance solutions.

Awards & Recognition

  • Best Digital Bank of the Year by TAS Business Awards
  • New Website of the Year award by Oman Banking and Finance Awards 2023 - OER
  • Best Bank for Digital Solutions in Oman by Euromoney Awards for Excellence
  • Best Islamic Bank in Oman award by Middle East Banking Awards
  • Most Innovative Payment Solution (Paysticker) Oman by Gazet International Magazine
  • Fastest Branch Network Expansion in Oman award at the OER Business Summit 2023
  • Best Corporate Bank Oman by International Business Magazine Awards
  • Best Corporate Bank of the year Oman by Gazet International Magazine