Oman Cables Industry Sustainability Day 2023: Pioneering sustainable solutions for a brighter future

Leading the way: Oman Cables' commitment to sustainable growth

Muscat: Oman Cables Industry (OCI), the leading manufacturer of energy cables and innovative service provider in Oman, along with its strategic partner Prysmian Group, unveiled its vision for a sustainable future, highlighting the Group's dedication to environmental responsibility, social progress and innovation.

The Sustainability Day event took place recently and brought together industry leaders from across the GCC Region. OCI reaffirmed its unwavering commitment to sustainable growth and its resolute alignment with the ambitious Oman Vision 2040. Demonstrating their proactive approach, OCI took a pioneering step by organizing the event under the theme "Going Green, Going Digital." With sustainability firmly integrated into its business strategy, the event served as a powerful platform to explore innovative pathways towards a greener and digitally driven future. Through insightful discussions, experts explored the latest trends in embracing sustainable transformation within the industry.

Oman Cables Group has identified 50 projects over the next three years and dedicated investments have been approved for 2023, boosting its sustainability efforts. OCI’s dedication to sustainability has been integral to its growth strategy, leading to the Climate Change Ambition and adherence to the Science Based Target initiatives in 2021.

In the opening address, Cinzia Farisè, Oman Cables CEO outlined the Environmental, Social and Governance (ESG) approach. This was followed by COO Muhannad Al Lawati, who detailed Oman Cables Climate Ambition, outlining the organization’s projects to combat climate change. The Social Ambition was illustrated by CSO Giancarlo Esposito, with numerous projects and specific KPIs in term of diversity and inclusion. The last chapter was dedicated to Innovation4Sustainability, with an excursus of main innovation and innovative projects of a company that recently established in Oman the Renewables Excellence Center – solar, wind and hydrogen - for the entire region.

The event was graced by the presence of a distinguished Guest of Honour, HH Dr. Adham Al Said. He emphasized the key drivers of sustainability in the Sultanate. His insightful address highlighted how sustainability plays a crucial role in shaping the future economic development of Oman.

Cinzia Farisè, CEO, said: “Sustainability is at the heart of our business strategy and through innovation, decarbonization and customer-centricity, our technology plays a key part in the energy and digital transition processes. We engage stakeholders, prioritize the entire value chain and continuously innovate to anticipate Customers’ needs. With a circular economy focus and an inclusive work environment, we are committed to driving positive change. As we align our efforts with Oman Vision 2040 and the nation's net-zero emissions goal by 2050, we are determined to create a sustainable world that thrives economically while safeguarding our environment for future generations.”

OCI aims contribute effectively to the ambitious target of Prysmian Group: to cut scope 1 and 2 emissions by 47% and scope 3 emissions by 28% by 2030, compared to baseline of 2019. Long-term goals involve achieving a 90% reduction in scope 1 and 2 emissions by 2035 and scope 3 emissions by 2050. The Group is also advancing a circular economy roadmap, prioritizing sustainable revenue streams and increasing the use of recycled content.

Oman Cables has also set clear targets to enhance gender representation in the workforce and aims to participate effectively to Prysmian Group target to increase the percentage of women to 47-49% by 2025 and 50% by 2030.

The Group is proud of its ESG plan, which is supported by a Steering Committee with leaders who meet regularly to drive sustainability efforts. Six dedicated teams focus on: Net-zero emissions, Circularity, Innovation, Value Chain, Sustainable Finance and Sustainable Human Resources. The related projects reflect their commitment to long-term value creation.

-Ends-

About Oman Cables Industry (SAOG):

Oman Cables Industry (SAOG) is a leading cable manufacturer based in the Sultanate of Oman. It is a public joint-stock company listed on the Muscat Stock Exchange (MSX). The company specializes in the development, manufacturing, and marketing of a wide range of electrical products, including medium voltage power cables, low voltage power & control cables, instrumentation cables, pilot cables, overhead power transmission line conductors, and building wires. With its offices in Oman, UAE, Qatar, Bahrain, and KSA, and an extensive network of distributors and agents across the Middle East, Africa, Russia, Turkey, and India (MEART) region, Oman Cables Industry is part of the Prysmian Group, a global leader in the cable industry.

For media enquiries, please contact: Lea Ghaleb Account Director [email protected] Priya malhotra ​​​​​​PR Manager [email protected]

© Press Release 2022

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.