The Sultanate of Oman, represented by its Environment Authority, has completed the final draft of a general policy framework for carbon markets, aligning with the Paris Agreement’s Article 6.
The policy details the processes pertaining to the registering and issuing of carbon reduction certificates, fee structures, transparency and reporting guidelines, relevant registries, and more.
The 52-page document outlines Oman’s path to a carbon-neutral future and aims to establish the country as a leading carbon trading hub in the Middle East.
The Environment Authority of Oman announced that the draft has received positive feedback from international institutions and organizations specializing in carbon markets.
A technical workshop will be held in Muscat in mid-September to allow stakeholders to review the framework.
The political framework for the draft is set to be officially launched at the COP29 climate conference in November in Baku, Azerbaijan.
