Industry players increasingly integrating ESG principles

Muscat: With significant strides in embracing environmental, social and governance (ESG), the industrial sector in Oman , is  experiencing a huge shift to adapt and embrace ESG to align with international sustainability standards.

Leading industry players are increasingly integrating ESG principles into their operating models to drive the latest innovation and achieve decarbonisation.

This strategy is redefining the country’s landscapes and shaping the future of the industry.

Speaking about the latest strategies that Oman Cables Industry (OCI) employs to maintain its leadership position in the industry, Erkan Aydogdu, CEO, Oman Cables Industry, said: “OCI secures its leadership in the cable manufacturing industry through a multi-faceted strategy centred on sustainability, innovation, customer focus, strategic partnerships, and robust governance.”

“By embedding ESG principles into every aspect of the company’s operations, OCI is committed to driving innovation and achieving decarbonisation,” he added.

The company’s continuous investment in research and development ensures it stays ahead of industry trends, while a deep understanding of customer needs allows OCI to deliver tailored solutions that anticipate market demands.

“Strategic collaborations, including those with industry leaders like Prysmian Group, further bolster OCI’s technological edge,” Aydogdu said.

“Moreover, a strong corporate governance framework ensures effective leadership and strategic oversight, enabling OCI to maintain its industry dominance while advancing sustainability and consistently exceeding customer expectations,” he added.

"With innovation being crucial for the future of the energy sector, OCI plans to stay ahead of the competition. At OCI, staying ahead of the competition is driven by our relentless commitment to innovation. We invest heavily in research and development to explore cutting-edge materials, technologies, and processes that not only enhance our product offerings but also optimise our operational efficiency,” OCI CEO said.

“Central to this effort is our Excellence Centre, a dedicated hub where pioneering research and technological advancements are cultivated. Furthermore, we prioritise the continuous training and development of our workforce, ensuring they are well-equipped with the latest skills and knowledge to effectively harness new technologies,” he said.

“This comprehensive approach enables OCI to lead the energy sector with innovative solutions that anticipate and meet the evolving demands of our industry,” the CEO pointed out.

Regarding the new initiatives that OCI implementing to address ESG priorities, the CEO said, “At Oman Cables Industry, sustainability is deeply embedded in our DNA and integral to every aspect of our business. Our commitment to exceeding ESG targets is reflected in our leadership’s dedication to fostering an equal and diverse working environment and making a positive impact on the communities we serve. This commitment has nurtured a culture of innovation, empowering our employees to drive meaningful change within the organisation.”

He also said, “We are honoured to be recognised as one of the top companies on the Muscat Stock Exchange (MSX), a distinction that underscores our commitment to excellence and amplifies our responsibility as a sustainability leader. To this end, OCI has developed a comprehensive regional ESG plan that addresses all aspects of environmental stewardship, social responsibility, and governance. “

“We have established a steering committee to ensure that sustainability remains at the core of our operations, supported by six dedicated teams focused on Net-zero Emissions, Circularity, Innovation, Value Chain, Sustainable Finance, and Sustainable Human Resources. Our initiatives include product circularity and recycling to reduce waste and maximise resource efficiency,” he added.

“We also prioritise sustainability awareness training, empowering all employees to contribute actively to our ESG goals. Key programmes like SHE STEMS and KIDS in STEM are central to our efforts, driving gender diversity and inspiring future innovators. With the publication of our first-ever Sustainability Report in 2023 and our alignment with MSX for the 2024 report, OCI is firmly positioned as a leader in sustainable practices, committed to long-term value creation for all stakeholders,” OCI CEO said.

He further added, “We remain focused on sustainable business practices, including environmental stewardship and corporate social responsibility initiatives, to ensure our long-term viability and contribute positively to society. We have identified 50 projects over the next three years to boost our sustainability efforts.”

Regarding Omanisation goals, the CEO said, “Oman Cables Industry is deeply committed to the national goal of Omanisation, actively fostering a skilled and capable Omani workforce. Currently, our workforce proudly comprises 51% Omani nationals, reflecting our dedication to this objective.”

“To further advance this goal, we have recently partnered with the Eidaad Programme, providing six Omani candidates with year-long training opportunities, including one individual who will receive specialised training abroad as part of our group. Looking after our people is a top priority at OCI,” he said.

“We emphasise safety in the workplace and are committed to the well-being of our employees through initiatives like our comprehensive welfare policy, which includes providing shares, a baby bonus, and other support measures. We are also focused on developing new talent, collaborating closely with the government and local educational institutions to ensure that our workforce is equipped with the skills needed to drive our industry forward. Through these efforts, OCI not only contributes to the success of Omanisation but also strengthens the future of our nation’s industrial sector,” he said

Regarding the OCI’s plans for future expansion and growth, Aydogdu said, “Oman Cables Industry is committed to continuous growth and expansion, always exploring new markets while strengthening our presence in existing ones. We achieve this through strategic partnerships and collaborations that align with our long-term vision.”

“Our ongoing investment in research and development enables us to integrate cutting-edge technologies and enhance our product offerings, ensuring we remain at the forefront of the industry. Additionally, OCI is actively investing in renewable energy technologies and sustainable practices, reflecting our dedication to reducing environmental impact and meeting the increasing demand for green solutions.”

“These strategic efforts position OCI for sustained growth and success in an ever-evolving market,” the CEO of Oman Cables Industry further added.