Oman developing framework that could tap ESG-focused investors

Gulf oil state is developing ESG framework that could broaden its funding base, sources tell Reuters.

The government of Oman is working on an environmental, social and governance (ESG) framework that could allow the heavily indebted Gulf oil-producing country to widen its funding base, two sources familiar with the matter told the Reuters news agency. The move came as Oman works with the International Monetary Fund to develop a debt strategy after state coffers were hurt by low oil prices and the COVID-19 pandemic last year. Work on developing an ESG framework is at its early stages, said one of the sources.