Latest news with #SDG14
Observer
3 days ago
- Business
- Observer
Seaweed farming can support Oman's blue economy, climate goals
MUSCAT: Oman's Ministry of Agriculture, Fisheries and Water Resources is supporting a private-led initiative to explore the feasibility of large-scale seaweed cultivation, aimed at driving the growth of various economic activities related to climate mitigation, sustainable fuels, food security and biodiversity enhancement. Leading the initiative is NTZ Solutions, a local Omani firm focused on delivering innovative solutions in carbon capture, waste management and sustainability — centric human capital development. The company is credited with establishing the GCC's first commercial-scale biochar production facility, currently operational in Barka. With funding support from MedcoEnergi — an Indonesian state-owned energy and natural resources development enterprise — work has commenced on a pilot project designed to assess the overall feasibility and scope of large-scale seaweed cultivation in Oman. Speaking at an energy forum held in Muscat earlier in May, representatives of NTZ Solutions and MedcoEnergi shared insights on seaweed cultivation as an 'innovative nature-based solution' to some of the most urgent global challenges. 'We never imagined seaweed could become a solution to the global crises we're currently facing,' said Johan Despurwantoro, Sustainability and Risk Management Specialist at MedcoEnergi. 'But the question is — why should we return to nature? Because nature-based solutions are not just environmentally relevant but also economically powerful.' According to Despurwantoro, seaweed can contribute to poverty reduction, improve food security and serve as a nutritious food alternative. It can offset carbon emissions by replacing synthetic inputs, enhance ecosystem resilience and directly sequester carbon. Seaweed cultivation, he added, has the potential to unlock an extended value chain — from cultivation and logistics to industrial processing — creating significant employment opportunities at both local and regional levels. At the same time, it can advance Oman's progress on several UN Sustainable Development Goals, notably SDG 14 (Life Below Water), SDG 13 (Climate Action) and SDG 2 (Zero Hunger). Notably, a six-month pilot project was recently launched by the two partners in collaboration with the Ministry to assess the year-round viability of seaweed cultivation in Oman's coastal waters, Despurwantoro stated. A team of experts from NTZ Solutions and MedcoEnergi is currently evaluating the consistency of cultivation and identifying ideal conditions for selected native species. A key member of the team is Kamaruddin Azis, Project Facilitator at the COMMIT Foundation. In an update on the pilot, Kawther al Harrasi, Programme Manager at NTZ Solutions, revealed that the company has secured a pilot site within the Ministry's research facility at Bandar Al Rowdha in Muscat. Of the 12 native seaweed species initially studied, six — Ulva, Codium, Sargassum, Kerva, Hypnea and Gracilaria — were selected for their commercial value. These species are already utilised globally in the food and beverage, pharmaceutical, cosmetics and agriculture industries, she explained. In the next phase of the project, the focus will shift to scaling up production to support the development of high-value products such as agar, carrageenan, bioplastics and pharmaceutical ingredients. Kawther noted that seaweed can also play a major role in carbon sequestration. In her presentation, she further emphasised the significant knock-on effects of seaweed cultivation for Oman's blue economy growth strategy. Beyond the direct economic benefits, seaweed farming can contribute to job creation, in-country value generation and biodiversity enhancement, she added. HIGHLIGHTS Seaweed cultivation has the potential to unlock an extended value chain from cultivation and logistics to industrial processing
Arabian Business
08-05-2025
- Business
- Arabian Business
Bonds
The $100 million, 5-year Blue Bond priced at 5.25% coupon rate; Will fund significantly under-funded SDG 14 and SDG 6 of the United Nations
Muscat Daily
16-04-2025
- Business
- Muscat Daily
Oman showcases Youth Empowerment at International Youth Forum
New York City, US – The Sultanate of Oman is actively participating in the International Youth Forum organised by the United Nations Economic and Social Council (ECOSOC) in New York City, taking place over three days. Oman is represented by Ahmed bin Khalaf al Adawi, Advisor to the Minister of Culture, Sports and Youth for Planning and Studies, alongside H E Ambassador Omar bin Said bin Omar al Kathiri, the Sultanate's Permanent Representative to the United Nations. This marks the third consecutive year of Omani participation in the prestigious forum, reaffirming the Ministry of Culture, Sports and Youth's dedication to enabling Omani youth to engage with their international peers, share perspectives, and learn from global best practices in sustainable development. The opening day of the forum explored youth-led solutions for a more resilient and inclusive future, focusing on key areas such as health and digital health (SDG 3), gender equality (SDG 5), and sustainable oceans (SDG 14). Discussions centred on the importance of integrating youth into national strategies and international development efforts, recognising them as key drivers of cultural transformation and innovation in a rapidly evolving digital world. Forum speakers underlined the need for comprehensive youth policies that foster values of justice and dignity, and ensure youth are active participants in sustainable economic development for future generations. On the second day, workshops and side events tackled themes including economic growth and decent employment (SDG 8), and the importance of partnerships (SDG 17) to achieve sustainable development. Members of the Omani delegation engaged in dialogue with global experts and fellow youth leaders, sharing Oman's experience in shaping Oman Vision 2040, which was developed with significant youth input and sets out the strategic direction for the nation's development. The forum's closing day will feature high-level sessions during which youth delegates will present policy recommendations to global decision-makers. Joining the Omani delegation are officials from the General Directorate of Youth, representatives from the Ministry of Foreign Affairs, and several graduates of the Ministry's 'Youth Ambassadors' programme, which prepares young Omanis for effective global representation.
Gulf Today
06-02-2025
- Business
- Gulf Today
DP World's container handling hits record high in 2024, up 8.3%
DP World's ports and terminals handled a record 88.3 million twenty-foot equivalent units (TEUs) in 2024, up 8.3% year-on-year despite macroeconomic headwinds and concerns over the outlook for global trade. The global logistics business, which now has the capacity to handle more than 100 million TEU across operations in 78 countries, benefitted from long-term infrastructure investment contributing to strong growth and new services calling at its terminals. DP World's record performance underscores the strength of its diversified global portfolio and its ability to navigate supply chain volatility, ensuring continued service for customers worldwide. Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer of DP World, said, 'During the last 10 years we have invested more than $11 billion in world-class ports and logistics infrastructure to make trade flow. This record performance is further evidence that our long-term investment is providing the right services for our customers in the right places. 'As we continue to expand our reach deeper into the global supply chain by expanding our end-to-end logistics capabilities, we are confident that the container market will continue to grow and that we have the capacity to service it. Whatever the short-term challenges, we remain bullish on the outlook for world trade.' Leading the way in terms of performance across the DP World portfolio was the Posorja terminal in Ecuador, on South America's west coast, which posted a remarkable 87% uplift in volume to nearly 1 million TEUs. Double-digit growth was seen at San Antonio in Chile, Yarimca in Türkiye, Chennai in India, Callao in Peru, Antwerp in Belgium and London Gateway in the UK. DP World's flagship Jebel Ali Port also saw a 7% increase from 2023. At the same time, new ports and terminals added nearly 1 million TEUs to the total volume. This includes the new DP World- Evyap merger in Turkey, new operations at Dar Es Salaam Port in Tanzania and the Belawan New Container Terminal in Indonesia. Last week, Nasdaq Dubai welcomed Middle East and North Africa's first corporate Blue Bond listing of $100 million by DP World, a leading provider of global end-to-end supply chain solutions. Issued under DP World's $10 billion Global Medium-Term Note Programme, the bond carries a 5.250 percent coupon rate and matures in 2029. The issuance achieved a spread of 99.6 basis points (bps) above US Treasuries — the tightest spread ever achieved by DP World in both the bond and Sukuk markets. It highlights the region's growing commitment to sustainable finance, with proceeds funding critical projects such as marine transportation, port infrastructure, and water-positive initiatives. This landmark issuance contributes directly to the United Nations Sustainable Development Goals (SDG) 6 (Clean Water and Sanitation) and SDG 14 (Life Below Water), addressing the significant funding gap for sustainable marine and water-related initiatives, and solidifying Nasdaq Dubai's position as a leading platform for innovative ESG-linked financial instruments. This listing also contributes to further enhancing the role of the Dubai International Financial Centre (DIFC) as a hub for sustainable finance. Nasdaq Dubai's ESG offerings include Green Bonds, Sustainability Bonds, Sustainability-Linked Bonds, and now the region's first Blue Bond. The total value of debt listings on Nasdaq Dubai currently stands at $137 billion, of which $29 billion consists of ESG-linked issuances. To commemorate the listing, Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, rang the market-opening bell at Nasdaq Dubai, joined by Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Bin Sulayem said, "The listing of our first Blue Bond represents a significant step forward in DP World's journey to drive sustainable growth and innovation in the global supply chain. By directing funds toward critical marine and water-positive initiatives, we not only align with the UN's SDGs but also setting a benchmark for sustainable finance in the region. "This achievement highlights our commitment to fostering economic growth while safeguarding the marine ecosystems that are vital to global trade and future generations." Al Fahim stated, "The exchange remains committed to supporting issuers as they drive impactful, ESG-focused financing that contributes to long-term environmental and economic prosperity." Ali, in turn, said, "This listing marks a significant milestone in the region's sustainable finance landscape, as DP World's Blue Bond sets a precedent for innovative ESG-linked issuances in the Middle East. At Nasdaq Dubai, we are proud to provide a robust platform for issuers like DP World to access global investors and channel funding toward impactful, sustainable initiatives." Ian Johnston, Chief Executive of the Dubai Financial Services Authority (DFSA), commented, "As the regulator of the DIFC, we remain committed to supporting initiatives that enhance transparency and enable investors to make informed, impact-driven decisions, whilst helping to further solidify Dubai's position as a leading hub for green and sustainable finance." The proceeds of this pioneering Blue Bond will be directed toward financing sustainable projects, including marine transportation, port infrastructure enhancements, marine pollution prevention, and nature and water-positive initiatives. This issuance aligns with DP World's Ocean Strategy and its comprehensive Decarbonisation and Water Strategies, reaffirming the company's commitment to sustainable practices within the maritime sector. With this Blue Bond listing, DP World further cements its position as a leading issuer on Nasdaq Dubai. Currently, DP World and its subsidiaries have 11 debt listings on the exchange, comprising bonds and sukuk, with a combined value of $10 billion.
Hi Dubai
30-01-2025
- Business
- Hi Dubai
Nasdaq Dubai Lists MENA's First Corporate Blue Bond by DP World
Nasdaq Dubai has proudly listed the Middle East and North Africa's first corporate Blue Bond, a USD 100 million issuance by DP World, a global leader in supply chain solutions. The bond, part of DP World's USD 10 billion Global Medium-Term Note Programme, offers a 5.250% coupon rate and matures in 2029. It achieved a spread of 99.6 basis points above U.S. Treasuries, the tightest ever for DP World in both bond and Sukuk markets. This issuance underscores the region's growing commitment to sustainable finance. The funds will support key initiatives related to marine transportation, port infrastructure, and water-positive projects, contributing directly to the United Nations Sustainable Development Goals (SDG) 6 (Clean Water and Sanitation) and SDG 14 (Life Below Water). Nasdaq Dubai's platform now includes Green Bonds, Sustainability Bonds, Sustainability-Linked Bonds, and this pioneering Blue Bond, with total debt listings valued at USD 137 billion, of which USD 29 billion are ESG-linked. DP World's Group Chairman & CEO Sultan Ahmed bin Sulayem celebrated the listing as a significant step in the company's sustainability journey. He emphasized the alignment with the UN's SDGs and the long-term benefits for both global trade and marine ecosystems. Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, expressed pride in supporting such innovative ESG-focused issuances, while Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, highlighted the role of the exchange in facilitating sustainable finance. Ian Johnston, Chief Executive of the Dubai Financial Services Authority, also lauded the listing for advancing responsible investing. The Blue Bond's proceeds will drive DP World's Ocean and Water Strategies, reinforcing its dedication to sustainable practices within the maritime industry. News Source: Dubai Media Office
