The recent COP29 summit in Baku, Azerbaijan, brought together nations at a critical juncture in the fight against climate change. Having participated in COP27 in Sharm El Sheikh and COP28 in Dubai, I’ve seen firsthand the transformative energy dialogues shaping the future of our planet.
At Baku, the stakes felt even higher, as the global community grappled with the implications of Donald Trump’s return to the White House. For Oman, these global shifts underscore the urgent need to recalibrate its energy strategies, balancing economic realities with sustainability ambitions.
Trump’s re-election has revived concerns over the fragility of international climate cooperation.
During his first term, the withdrawal from the Paris Agreement and prioritisation of fossil fuels disrupted global climate efforts. His renewed focus on energy dominance raises uncertainties about the pace of the global energy transition.
For Oman, these developments pose a dual challenge. On one hand, a potential slowdown in renewable energy adoption globally could sustain demand for Omani oil and gas exports. On the other, weakened international commitments and diminished climate finance risk stalling Oman’s ambitious sustainability goals.
At COP29, Oman presented a compelling case for its role in shaping a sustainable energy future. Building on lessons from previous meetings, where themes of resilience and innovation took centre stage, Oman highlighted its efforts to become a leader in renewable energy and climate technology. Oman’s ambitious hydrogen strategy aims to position the country as a global hub for green hydrogen production, aligning with Europe’s increasing appetite for alternative energy supplies.
Oman also showcased its leadership in carbon capture technologies, particularly through CO₂ mineralisation projects pioneered by local startups like 44.01, which provide scalable solutions to reduce emissions.
I’ve observed a growing recognition of the interplay between energy security and climate action. A key takeaway from these summits is that energy security no longer merely refers to reliable energy supplies but also encompasses the stability of economies and societies in the face of climate risks.
As Christiana Figueres, former Executive Secretary of the UNFCCC, aptly said: “The cost of inaction on climate is far greater than the cost of transitioning to clean energy.” This sentiment resonates deeply with Oman’s approach, as the country recognises that economic stability and sustainability are intertwined.
The incoming Trump administration’s potential to deprioritise global climate agreements presents both risks and opportunities for Oman. On one hand, diminished international resolve could lead to prolonged reliance on oil and gas, providing a temporary boost to Omani exports.
On the other, this may slow investments in renewable energy projects, complicating Oman’s efforts to become a leader in green energy. Strategically, Oman can mitigate these risks by strengthening partnerships with Europe and Asia in hydrogen and carbon capture, accelerating investments in renewable energy and water management systems, and scaling its innovation in energy storage and carbon removal technologies.
COP29 underscored the importance of integrating energy security with climate goals. Oman’s forward-looking strategies, rooted in innovation and diversification, position it as a key player in shaping the energy transition. However, this vision requires sustained momentum, even amid global uncertainties.
By leveraging lessons from previous COPs and maintaining an active role in international energy dialogues, Oman can navigate the challenges posed by Trump’s policies. Its ability to align domestic policies with global trends will determine whether it emerges as a leader in the new energy economy or lags behind.
The path ahead is fraught with challenges, but Oman’s resilience and strategic vision provide a foundation for progress. As Figueres’ words remind us, the cost of inaction is too great for any nation, especially one as strategically positioned as Oman, to ignore.
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