Oman LNG ensures continuous financial sustainability for CSR projects


Oman LNG ensures continuous financial sustainability for CSR projects

Oman LNG  are pioneers of corporate social responsibility (CSR) which brings sustainability to our projects by ensuring a total of 1.5% from Oman LNG’s net income after tax (NIAT) are earmarked annually to invest in sustainable programmes.

These projects are run through Oman LNG Development Foundation (ODF).

A Community Fund targeting initiatives related to the Sur Community where its world-class, three-train liquefaction plant is located.

A National Fund that covers a large swath of the company’s social development programmes across the nation.

A Reserve Fund to ensure continuous financial sustainability for current and future CSR projects and programmes.

Community Fund

The Community Fund provides financial support for the community in Sur, home to Oman LNG’s plant and its neighbours. Programmes, projects and initiatives executed under this fund have played a major role in fostering healthy relations among the people of Sur and surrounding communities. The initiatives have also enabled the growth of trade and commerce in vocations that are at the heart of the society’s existence. Occupations like fishing and boat building evolved over the years and shaped Sur’s coastal proximity, this field has grown in scope with the use of modern technologies that promote them.

National Fund

The National Fund is for the purpose of funding programmes, projects and initiatives that go beyond the community where the company’s world-class liquefaction plant is located. This fund comprises three focus areas: Human Resource, National Projects and Sponsorship and Donations. Initiatives executed under the National Fund are spread across all governorates in the Sultanate of Oman and are intended to have a wide beneficial impact on its people, improving the quality of life across the nation.

Reserve Fund

The Reserve Fund addresses the sustainability of the CSR programmes. The revenues acquired to fund these programmes are resourced through the export of Oman LNG’s cargoes produced from harnessing the country’s natural gas resources. A third of the funds are earmarked annually to invest in the Foundation’s CSR efforts and secure the sustainability of the CSR programmes.

Annually, these funds equate to 1.5% of Oman LNG’s net income after tax (NIAT). The company’s investment in carefully considered initiatives and programmes support the government’s ambition to improve the quality of life for the Omani people. With the future unknown, the Reserve Fund will enable the sustainability of programmes and initiatives already underway and safeguard the perpetuity of CSR efforts for Oman in the future.

Education

One of our key mission statements is to be a trusted partner in the development of Oman and its people. We therefore continue to address issues that are vital for the Omani youth looking to secure their future by ensuring access to quality education, engagement in entrepreneurship opportunities and making use of innovative country value mechanisms. We give special importance to inclusion in education. Many of our educational projects facilitate equal access to information for people with disabilities by providing them with assistive devices to aid their learning. We also ensure that rural communities have access to learning and educational opportunities regardless of their location – whether in the outstretched desert, or high atop the Al Hajar mountains. Science, Technology, Engineering and Mathematics (STEM) is a focus area of many of our educational programmes.

Environmental Protection

Many efforts are been focused on slowing down and preventing the loss of biodiversity. With Oman’s culture and heritage so closely linked to the sea, the focus has been strongly towards the biodiversity residing in and around water. By building artificial coral reefs, donating beach cleaning devices, establishing the Turtle Reserve in Ras Al Jinz, as well as partnering with the Environment Society of Oman to help preserve Oman’s rich natural environment are some of the key efforts by the Foundation to help mitigate the impacts on the environment.

Environmental Education

‘Teach a man to fish and he will fish for a lifetime’ is our motto, and education is the vehicle for sustainable environmental protection and preservation. Knowledge sharing is critical in advancing individuals understanding of the impact and benefits of their actions on the environment. Education on waste management, beach clean-up workshops with young children and youths, turtle hatchlings catch and release’ efforts are a few examples helping to instil a deeper understanding of Oman’s rich natural environment at a young age.