Oman LNG, which allocates 1.5 per cent of its net income after tax to various social investment and sustainable programmes, celebrates the third anniversary of its CSR arm, Oman LNG Development Foundation
Oman LNG celebrated the third anniversary of the establishment of Oman LNG Development Foundation (ODF). The first of July marks the start of the foundation’s pioneering Corporate Social Responsibility (CSR).
CSR has been an integral part of Oman LNG with a focused objective: to deliver tangible value to Oman and its people through social investment. Oman LNG annually allocates 1.5 per cent of its net income after tax to various social investment and sustainable programmes, a commitment set when the company was founded. Even before the first cargoes left the Liquefied Natural Gas (LNG) plant in early 2000, the company invested in sustainable projects for the community.
To further strengthen its robust CSR efforts with more focus and prominence, Oman LNG’s board of directors decided to establish an independent legal entity back in 2009. July 1, 2015, marked the operational start-up of ODF.
Oman LNG has an ambitious vision and dedication towards CSR through the Oman LNG Development Foundation. The foundation addresses four key pillars of sustainable social development: the first pillar being CSR delivered through 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 social development programmes across the nation, and a Reserve Fund to provide CSR continuity and sustainability; the second pillar helps deliver value for Oman LNG; the third secures the future through collaborations and investments; and finally, the fourth, a centre of excellence, enables others to develop CSR initiatives.
Attesting to the company’s high degree of CSR practices, thorough standards of review and implementation, the foundation has been recognised locally and globally. Most recently, the Foundation was honoured in 2017 as the Best Company in CSR through “His Majesty Sultan Qaboos Award for Voluntary Work”, the highest achievement for CSR attainable in the Sultanate. The company was also recognised regionally as the Best Company in Social Investment in the Arab World in the “Arab Best” competition.
Since inception, the unique CSR model has been showcased worldwide, representing Oman at key events and extraordinary engagements, such as the Arab League and the World Gas Conference, both of which took place this year.
“We are pleased with the achievements of Oman LNG Development Foundation within a short period since it was launched. Such success reflects the desired strategic objectives anticipated from our shareholder, Oman LNG, and the community. The Foundation promotes CSR and In-country value,” said Sheikh Khalid Al Massan, CEO of Oman LNG Development Foundation.
“We thank Oman LNG for its robust support to the foundation, helping us serve the local communities across the Sultanate. The foundation also provides the necessary expertise to effectively manage large projects and investments to ensure the sustainability of the foundation for generations to come,” he added.
At present, the company’s social investment programmes span the length and breadth of the country with over 6,000 projects ranging from education and healthcare to preserving the environment and road safety covering all wilayats, reflecting the foundation’s sincere interest to embed the principles of social responsibility as part of its core existence. Through strengthening cooperation between the public and private sectors, the projects and programmes aim to supplement the national economy and ambitious development plans implemented in the country.
Going forward, the foundation will continue to excel in CSR by actively seeking partnerships to further ground the investment arm. It also seeks to expand on building subject matter expertise through the benefits achieved from delivering social investment initiatives, thus helping to enhance the social fabric of Oman and touching lives across the nation and beyond. Through CSR, citizenship, and in-country value, ODF will continue to seek and enhance social value by proactively addressing community needs.