Investors Relations

• Asyad Group is committed to the national efforts to reduce carbon emissions by 7% by 2030 under the Paris Agreement
• The private sector is a key player in offering innovative and sustainable solutions
• Empowering the private sector is essential to uplift the logistics services in Oman.

Asyad Group, Oman`s integrated logistics Group, has penned a strategic decarbonization partnership with 44.01, a local environmental start-up to further advance shared CO₂ removal ambitions. This initiative comes in line with the Group`s sustainability commitments to ensure decarbonization, waste management, and biodiversity across its operations as part of the Environmental Stewardship pillar. 

The partnership echoes the national efforts to reduce emissions by 7% by 2030 under the Paris Agreement. Thus, both parties will work together on opportunities to remove carbon emissions in the logistics sector and contribute to the development of a sustainable logistics industry in Oman.

Implementing emerging carbon removal technologies, Asyad Group will work with 44.01 to capture the CO₂ emissions and convert them into rock permanently through the process of mineralization across. This collaboration indicates the extended efforts for further decarbonization in the logistics sector. 

The partnership also envisages using biofuels from 44.01’s sister company, Wakud, to help decarbonize Asyad’s existing logistics assets.

Following on its business growth strategy centered around private sector partnership and engagement, the Group`s collaboration with 44.01 will offer Asyad access to innovative solutions and open new opportunities for 44.01, enhancing its competitiveness and introducing its services to the global market.  

On this occasion, Essam Nasser Al Sheibani, Group VP Sustainability, Asyad Group, said: “Asyad firmly believes in the creation of a growth model that is increasingly oriented towards group sustainability and focusing on promoting clean energy whilst monitoring all GhG emissions and reducing waste and pollution through environmental management systems.” 

“Our partnership with 44.01 goes hand in hand with the rapid progress that the logistics sector is witnessing and our role in positioning the Sultanate to be at the forefront of new sustainable technologies globally”, Al Sheibani added. 
  
The Group Sustainability VP also highlighted, “As key highlights on our environmental agenda, we aim to tap opportunities in the areas of the energy transition, that represent the future, combined with CO2 capturing and storage, the green and blue hydrogen value chain, renewables, and decarbonized sustainable mobility products.”

 “Our collaboration with 44.01 translates the Group`s strategy to empower local SMEs and boost research and development activities in the sector.”, he concluded 

Both Asyad Group and 44.01 intend to identify opportunities for potential point source capture of carbon dioxide in connection with Asyad’s logistics fleet and undertake studies in relation to local carbon removal projects. This includes exploring potential operational sites where carbon removal activities can be showcased.  

Talal Hasan, Carbon General, 44.01, said: “The transport and logistics sector will see a drastic shift towards sustainability in the coming decade. We are humbled that Asyad has chosen us as a technology partner to contribute to achieving the national decarbonization agenda under the Paris Agreement. The work we will do together will have a direct impact on reducing carbon emissions. We see this partnership as a big win for the Sultanate.”