• Overview of PRME
• Executive Chair's Letter to Join PRME
• MCBS PRME Signatory Profile
• The Seven Principles of PRME
• PRME Press Release

- https://x.com/arabian_stories/status/1766774804147806555?s=48&t=Hs6tKPjEXWf4r2jRqO0Zkw
- https://timesofoman.com/a/143062
- https://shabiba.com/a/192635

SDG Accord

MCBS Commitment to the Sustainable Development Goals

The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all developed and developing countries in a global partnership. They recognize that ending poverty and other deprivations must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth – all while tackling climate change and working to preserve our oceans and forests. Source: https://sdgs.un.org/goals

In March 2024, the Modern College of Business and Science became a signatory of the SDG Accord. The SDG Accord calls upon universities and colleges to embed the UN Sustainable Development Goals into their education, research, leadership, operations, administration, and engagement activities.

We Accord Signatories recognize:

   - The universal set of goals—people, prosperity, planet, partnership, and peace—is indivisible and interconnected.

   - As educators, we are responsible for playing a central and transformational role in attaining the UN Sustainable Development Goals by 2030.

And we thereby assert...that as leaders or individual practitioners, academics, students, or researchers, we will:

   - Align all significant efforts with the SDGs, targets, and indicators, including through our education, research, leadership, operational, and engagement activities;

   - Aim to involve members from all key stakeholder groups in this endeavor, including students, academics, professional staff, local communities, and other external stakeholders;

   - Collaborate across cities, regions, countries, and continents with other signatory institutions as part of a collective international response;

   - Using our own unique ways, inform, share our learning, and account to both local and global communities our progress toward the SDGs;

   - Annual report on 'How does my institution, MCBS, contribute to the SDGs, and what more can we do?'

Signatories

[As of 11 March 2024]

Muneer Al Maskari, PhD
Executive Chairman
Modern College of Business and Science

Aisha Al Kharusi
Deputy Executive Chair
Modern College of Business and Science

Dr Said Al Kittani
Associate Dean of Community Outreach
Modern College of Business and Science

Participation

MCBS Environment Club

Welcome to the Environment Club, where passion meets purpose and sustainability is our guiding principle. Here at MCBS, we believe in fostering a community of environmentally conscious individuals dedicated to positively impacting our campus and beyond. As a member of our club, you’ll have the opportunity to engage in various exciting initiatives, events, and projects to promote environmental awareness, sustainability practices, and eco-friendly lifestyles.

Seminar On Musical Cleanups

MCBS Environment Club organized a Seminar on Musical Clean ups which was presented by a very popular Omani Environmentalist- Mr. Fahad Al Abri on October 16th, 2023. He insisted on the importance of keeping our beaches and parks clean and green and the significance of getting rid of plastics. Mr. Fahad made the seminar even more interesting by involving the students in singing along with him in his ukelele!.

Strategic Partnerships

In its pursuit of enhanced sustainable development efforts, MCBS has embarked on a collaborative approach by fostering strategic partnerships with government ministries, industry leaders, and relevant organizations. The Ministry of Economy, Be'ah (Oman Environmental Services Holding Company), and the Center for Sustainability and Excellence are among the initial entities with whom MCBS has established collaborations to promote sustainable practices.

Sustainable development competition

To foster a sustainability-conscious work environment and raise awareness of the significance of sustainable practices, MCBS implemented a competition titled "Ten Ways to Encourage Environmentally Conscious Workplace" as part of its Staff Day activities. Divided into four teams, faculty and staff collaboratively designed and presented posters outlining their proposed methods for promoting environmental responsibility within the workplace. A jury comprised of the Dean, Associate Deans, and professors evaluated the presentations.

Conference in Belgrade, presentation on Sustainability

MCBS faculty actively contribute to the field of sustainable development. Their research is published in prestigious journals and presented at international conferences, fostering international collaboration with esteemed colleagues. Notably, a recent paper titled "Underpinning Sustainability Paradigms: Circular Economy and Enhanced Triple Bottom Line" was presented at the Singidunum University International Scientific Conference (FINIZ) in Belgrade, Serbia. This collaboration involved a professor from Singidunum University, a valued academic partner of MCBS.

Collaborative Research

Sustainable plastics waste management framework based on the analysis of people’s awareness, knowledge, attitude, skills, and action: development of sustainable plastics waste management approaches        

This paper investigated peoples’ awareness on plastic ban legislation and the consistency of their practices in promoting the sustainability of plastic waste management. Specifically, this paper determines the difference between the awareness on plastic ban legislation based on the demographic profile, describing the level of awareness on single-use plastic in relation to plastic ban legislation and threats to the environment; it ascertains the consistency of practice on plastic waste avoidance; establishing the relationship of awareness on single-use plastic and sustainability in practice; and finally, the paper suggests the approaches to enhance the awareness and consistency of practice in promoting sustainable development. The analysis of the survey results from 890 participants during May–July 2021 from different ethnicities concludes that among others, a higher level of plastic pollution-related awareness and knowledge along with positive attitude and skills for its control, increases the adoption of plastic waste management practices. Based on the synthesis of participants’ suggestions, this paper proposes a set of six interconnected approaches to address the plastics wastes and its impact on the environment, useful for practitioners, policymakers, and researchers in this area.
Author: Dr. Rene Y. Paquibut, Head of Business and Economic

Electric Vehicles Adoption Challenges in Oman: A Comprehensive Assessment and Future Prospects for Sustainable Cities        

This study aims to investigate public perceptions of obstacles to Electric Vehicle (EV) adoption in Oman and assess the impact of EVs on cities' sustainability. A survey was conducted, and questionnaires were distributed to over 300 car consumers residing in the Muscat governorate. The questionnaire was designed using Microsoft Forms and distributed to the respondents using email and social media platforms like WhatsApp, face-book, LinkedIn, Instagram, etc. Descriptive statistics and Structural Equation Modeling (SEM) were used for data analysis. The study's findings reveal that the lack of public charging infrastructure, limited knowledge about EVs, and the suitability of available EV models are the major obstacles to adopting EVs in Oman. While safety apprehensions, financial considerations, and limited public awareness of climate change impact are other barriers. The SEM results reveal a strong positive correlation between the cost-effectiveness of EVs and the intention to purchase, the availability of public charging infrastructure and the intention to adopt EVs, awareness of the impact of climate change, and the intention to embrace EVs. Nevertheless, there is a negative relationship between the safety concerns of EVs and the intention to buy EVs. Regarding the impact of EVs on Oman’s cities, respondents generally believe in the potential for EVs to improve air quality, enhance urban living conditions, and mitigate noise and air pollution. However, the respondents were also cautious about the widespread use of EVs due to the high infrastructure investment costs and energy consumption. Therefore, the study suggests targeted interventions such as robust public awareness campaigns, improved charging infrastructure, and incentives for EV adoption. These insights are valuable for policymakers, industry stakeholders, and advocacy groups aiming to overcome barriers and leverage perceived benefits. The study offers essential insights into the evolving global landscape of electric mobility, guiding and promoting a sustainable and widespread adoption of electric vehicles in Oman.
Author: Dr. Umar Ahmed, Associate Professor

Business sustainability in aviation industry in post-COVID era through information technology and triple bottom line perspective                 

The aviation industry has faced significant challenges in the wake of the COVID-19 pandemic. However, the industry has shown resilience and adaptability, and there are indications that it will emerge stronger and more sustainable in the post-COVID era. This study's objective is to comprehend and identify sustainability practices that are relevant for the aviation sector. Further, the study also explores information technology as an enabler of sustainability in the aviation sector. The study uses a systematic literature review, published in Scopus, SCI, and ESCI-indexed journals. The study examines the industry's complexity with regard to sustainability and analyses key indicators using complete and reliable data from various stakeholders. The study focuses on social, economic, and environmental sustainability independently and identifies sustainability indicators for each pillar based on the triple bottom line's viewpoints (TBL). By taking into account the three distinct pillars of sustainability, the study expands on previous efforts to identify sustainable practices, applications, and enablers in the aviation sector.
Author: Dr. Saurav Negi, Assistant Professor

Motivation of Women Towards Sustainable entrepreneurship and Financial Empowerment        

Female entrepreneurs are autonomous individuals driven to pioneer novel ventures. They meet customer demands, generate job opportunities, and contribute to societal and economic progress by seizing opportunities, mobilizing resources, and embracing business risks. This study, conducted in India, aims to uncover the motivations behind women opting for entrepreneurship and their financial empowerment. Through convenience sampling, primary data was collected from 450 female entrepreneurs in India, and factor analysis was employed to scrutinize the gathered information. Results indicate that women entrepreneurs are primarily motivated by the desire for autonomy, the pride of initiating their own business, support from family members, the aspiration to secure a prosperous future for their children, the necessity to financially support their families, job security, and various other factors.
Author: Dr. Ravi Thirumalaisamy, Assistant Professor

Short-Term Stock Market Price Trend Prediction Using Genetic Algorithm-Enhanced Back Propagation Neural Networks for Traders’ Sustainable And Inclusive Future.-              

This study focuses on predicting short-term stock prices in the complex and unpredictable stock market environment. The proposed model integrates a hybrid approach, combining Genetic Algorithm (GA) as a metaheuristic algorithm and Back Propagation Neural Networks (BPNN) as a neural network model. The evaluation utilizes datasets from Infosys and Hindustan Unilever Limited stock markets and involves preprocessing steps such as normalization and wavelet transformation, along with the application of stock technical indicators. GA is employed for dimensionality reduction, and the BPNN model is trained and tested for prediction analysis. Model performance is assessed using metrics such as MAE, RMSE, and MAPE, compared to other models (ANN, BPNN, RNN) for validation on both datasets. The comprehensive 20-day evaluation underscores the model's efficacy and reliability, making it an appealing option for financial forecasting in dynamic market conditions. This provides valuable insights for investors and financial analysts.
Author: Dr. Ravi Thirumalaisamy, Assistant Professor

Sustainability in the Aviation Industry in the Post-COVID-19 Era          

The purpose of this study is to understand and identify sustainability measures applicable in the aviation industry. Further, the study also explores the enablers of sustainability in the aviation sector. The study uses a systematic literature review, published in Scopus-indexed journals. The study addresses the complexity of sustainability in the sector and identifies key indicators based on comprehensive and valid data from different stakeholders. The study focuses separately on the three pillars of sustainability—social economic, and environmental sustainability—and identifies sustainability indicators for each pillar from the views of the triple bottom line. The study finds that there is a lack of sustainability knowledge and awareness in the aviation sector despite its resistant growth and expansion. The results show that the aviation industry highlights the importance of sustainability indicators that value equitable development in the pursuit of business goals and environmental and economic efficiency.
Author: Dr. Saurav Negi, Assistant Professor

Analysis of Business Challenges and Opportunities  Within the Era of COVID: Strategies for Sustainable Business 

The coronavirus pandemic has caught the world by surprise causing huge impact on the global economy leading to decline in GDP by over 1% approximately in 2020. There were huge implications in almost every business sector devastating mainly manufacturing, tourism, travel, service and trade of goods and commodi-ties among nations. The pandemic has also caused a huge blow on global mobility restricting travel and movement. The study principally highlights the significant chal-lenges and opportunities that can be exploited by business and proposes conceptual model to support establishments in realizing the benefits of sustainable business. Organizations has to potential utilize the role played by HR, supply chain in modu-lating the workflow and effectively engaging the workforce to efficiently deliver the outputs, by exploring the opportunities each organization can provide to business continuity. The success formula should always lay on the pillars of sustainable devel-opment emphasizing on economic, social and environment aspects in every stage of business operation.
Author: Dr. Henry Jonathan, Assistant Professor

Renewable energy and natural resources – are the gulf cooperation council prepared for energy transition for a sustainable future? – vision, strategies, and challenges             

The bulk of the energy requirement in the gulf cooperation council countries are met by hydrocarbon sources and are highly dependent on non-renewable energy, as they have around 30.6% of total oil reserves and 19.8% of natural gas potential. With the dwindling energy resources from hydrocarbons in the region, compounded with population rise projections that might reach 50-60 million by 2025, urbanization, and growing industrialization, coupled with high energy consumption in the GCC relative to other developed countries owing to the climatic conditions, all these pose a challenge on sustainable development path in the region. However, there is greater attention laid from international players like the UN on the GCC for preparing paths for exploring sustainable energy resources. Amidst these lines, this paper attempts to answer the questions surrounding the preparedness of GCC for the economic transition to renewable energy, its ability to withstand the risk of transition, challenges, limitations, and technical competencies hurdling the region in adopting sustainable initiatives. Information from secondary sources, published literature, and websites from governments and organizations will be referred to and analyzed to present and reach conclusions about the study. GCC countries have responded to the global demand for sustainable development with each country earmarked strategies, and mechanisms that are visionary to achieve effective energy transition in every sector. In the end, such measures need comprehensive approaches and coordinated and collective efforts. The outcomes of the study will deliver the standpoint of each country in the GCC and as a whole on the road map of sustainable development, in addition, will also emphasize the importance of sustainable development especially considering the anticipated future challenges in the region, specifies indicators for all government,  public-private partnership organizations to exhibit coordinated efforts in sharing the expertise and capacity to drive the economy towards successful sustainable energy transition.
Author: Dr. Henry Jonathan, Assistant Professor

The Future of Competitive Advantage in Oman: Integrating Green Product Innovation, AI, and Intellectual Capital in Business Strategies        

This study delves into the dynamics of green product innovation, artificial intelligence (AI) adaption, and intellectual capital, investigating their impact on the competitiveness of firms in Oman. It emphasizes the crucial role of government intervention and R&D investments in this process. Based on the responses of 214 top managers in Oman, the research employs structural equation modeling to analyze the intricate relationships between these factors. The findings underscore a significant positive correlation between green innovation, AI implementation, and intellectual capital, with government involvement and R&D investments as vital moderators. This study provides a novel perspective on the synergy of technology, innovation, and intellectual capital in developing economies. It offers essential insights for business leaders, policymakers, and scholars, highlighting the necessity of integrating advanced technologies and sustainable practices in business strategies to achieve competitive advantage. The research adds to the existing body of knowledge on innovation and competitiveness. It offers practical implications for enhancing firm performance in Oman and similar emerging markets.
Author: Dr. Fadi Abdelfattah, Associate Professor

A Study of Risk Management Process and Its Impact on Project Success - in the Oil and Gas Sector    

The oil and gas industry is the Sultanate of Oman's greatest economic contributor. It has been recognized as an influential sector that concentrates the country's emphasis on creating comprehensive, reliable, and sustainable performance to produce long-term economic benefits. The complex competitive environment in the oil and gas sector has led companies to recognize the substantial number of risks facing their activities. Oil and gas companies' most valuable asset is their workforce, whose environment, health, and well-being contribute to the company's productivity. It is crucial to consider the impact of risk when evaluating and treating it. The oil and gas industry is one of the fields in which addressing risks remains a major concern to ensure that human life and environmental damage can be limited. Therefore, this study aims to glance at the risk management process and its role in oil and gas companies in Oman. It also proposes a risk management process that can be used in oil and gas as well as in other industries. It shows how risks are efficiently and effectively managed and mitigated in several steps.
Author: Prof. Josephmani Puthenparampily, Acting Associate Dean of Academic Affairs

An empirical study of cold chain issues and performance: Applying structural equation modelling      

The food industry suffers from huge wastage and losses in food products, and reducing this waste and loss is an issue in the food industry. Improvement in cold chain performance will result in the minimization of food losses and wastage. The reason for this review is to look at the causal connection between different issues with cold chain performance through empirical validation. According to the goal of the review, seven theories were proposed dependent on a thorough writing survey on issues in the cold chain of the frozen food industry. Evidence was found for proposed speculations. The results of hypothesis testing showed infrastructural facility, safety and quality, awareness and handling practices, and responsiveness to positively influence cold chain performance while increased efforts are required for appropriate implementation of integration, sustainability, and traceability. While the performance of the supply chain and parameters affecting it has been a critical exploration theme for more than many years, scarcely any examination has been led that centers explicitly on issues considered synergistically.
Author: Dr. Saurav Negi, Assistant Professor

MCBS National Sustainability Agenda

MCBS Sustainability Strategy

Introduction:
MCBS recognizes the impact of sustainability in addressing local and global environmental challenges and promotes sustainability within its operations and policies. As a result, MCBS developed a rolling 3-year strategy aligned with its mission, vision, and values.

The Strategy:

The MCBS Sustainability Plan covers four main domains (Resources, Services, Teaching & Research, and Operations). Our strategy demonstrates our commitment to integrating sustainable practices into all aspects of MCBS’s operations. Most importantly, we value fostering a culture of sustainability among students, faculty, and staff.

Strategic Objectives:

The four domains of MCBS's sustainability strategy are realized by four strategic objectives as follows:

• Reduce the college’s carbon footprint: Implement initiatives to optimize our operations, which will significantly reduce greenhouse gas emissions.
• Improve resource utilization: Reduce energy and water consumption and promote recycling and reuse of materials.
• Increase Renewable energy utilization: Encourage electric mobility, walking, cycling and public transit, and carpooling.
• Embed sustainability in Teaching and Research: Integrate sustainability into the academic curriculum and research topics to give students the knowledge and skills needed to address sustainability challenges.

Programs and Initiatives:

To realize the objectives, MCBS came up with a series of initiatives to be implemented as part of the sustainability strategy. The following table lists all major initiatives and related strategic objectives:

The timeline for implementing the initiative is illustrated in the following timeline.

MCBS’s commitment to sustainability is demonstrated by its establishment of an office specialized in all sustainability operations and initiatives centrally at the institutional level. This office will oversee the implementation of the Sustainability strategy and monitor all KPIs related to sustainability.

The office will ensure the right message is communicated to all stakeholders on sustainability matters. MCBS, through the collective efforts of the college community, aims to inspire positive change in the global communities.

Policy on: Sustainability

1. Statement

This policy is hereby developed to foster a culture that integrates environmental, social, and economic considerations into all aspects of our operations, education, and community engagement.

2. Policy Purpose. 

     2.1. Minimize negative environmental impacts such as resource depletion, climate change, and pollution.

     2.2. Implement practices that would reduce carbon emissions, protect the ecosystem, and promote biodiversity.

     2.3. Foster a culture of innovation that promotes responsible consumption and investing in renewable energy.

     2.4. Enhance the reputation, brand value, and market competitiveness of MCBS.

     2.5 Navigate compliance requirements, minimize legal risks, and demonstrate accountability to stakeholders.

     2.6. Foster and participate in national, regional, and international collaborations on sustainability-related issues.

3. Definitions and abbreviations. 

     3.1. MCBS: Modern College of Business and Science.

     3.2. MCBS Stakeholders: Faculty, Staff, and Students.

     3.3. Recycling: This refers to the process of converting waste materials into reusable products.

     3.4. Sustainability: This refers to the ability to meet the needs of the present generation and ensure future generations can meet their needs.

     3.5. Third-Party Company: These are external entities that offer goods or services that MCBS doesn’t offer. companies that MCBS uses to conduct operations on their behalf.

     3.6. Waste: These are materials that are no longer useful or unwanted.

4. Stakeholders

     This policy applies to: All MCBS Stakeholders

5. Procedures

The following procedures are to be followed to effectively implement the policy at MCBS.

5.1. Waste Disposal:

Every academic year, the types of waste generated by MCBS are identified by the Sustainability Committee operating under the Sustainability Center as part of the waste management program. Once identified, training is provided to all MCBS stakeholders on what actions should be taken to recycle waste.

     5.1.1 Stage 1: Based on the waste identified, waste bins categorizing the type of waste are placed in populated areas all around the campus.

     5.1.2 Stage 2: It is the responsibility of an individual to ensure that the correct waste material is thrown into the correct waste bin as labelled on the side.

     5.1.3 Stage 3: Every week, third-party companies have been contracted to collect waste from the campus and transport it to recycling facilities.

     5.1.4 Stage 4: The recycling of waste shall be monitored based on the volume of recyclables collected to ensure progress towards recycling goals and identify areas for improvement.

 5.2. Energy Conservation:

Every academic year, energy consumption on the MCBS campus is identified by the Sustainability Committee operating under the Sustainability Center as part of the energy conservation program. Once identified, training is provided to all MCBS stakeholders on what actions should be taken to conserve energy. As a result, the following procedure should be followed:

     5.2.1 Stage 1: A regular maintenance schedule is developed depending on the appliance, system, and machinery.

     5.2.2 Stage 2: Students, faculty, and staff have the responsibility of switching off the lights if they are the last person to exit the room.

     5.2.3 Stage 3: College campus officers shall ensure that all lights and air conditioning systems are switched off at the end of the day to conserve energy.

     5.2.4 Stage 4: Energy conservation shall be monitored through the electricity bill to ensure progress towards energy conservation goals and adjust strategies if needed.

5.3 Transportation:

In the efforts to reduce the carbon footprint of MCBS, the following steps are taken with regards to transportation to and from the campus:.

     5.3.1 Stage 1: To reduce the number of vehicles on campus, MCBS encourages carpooling and using transportation services to and from campus.

     5.3.2 Stage 2: MCBS provides a list of transportation services, such as buses, that pick up and drop off students to and from campus to reduce the number of vehicles on campus.

     5.3.3 Stage 3: The list of transportation services, together with the contact details and timings, is provided to the students during the orientation session and is available with student affairs.

5.4 Water Conservation:

Every academic year, water consumption on the MCBS campus is identified by the Sustainability Committee operating under the Sustainability Center as part of the water conservation program. Once identified, training is provided to all MCBS stakeholders on what actions should be taken to reduce water waste. As a result, the following procedure should be followed:

     5.4.1 Stage 1: A regular inspection and maintenance of the plumbing system for leaks shall be conducted.

     5.4.2 Stage 2: An awareness session is given to the students, faculty, and staff on the importance of reducing the use of water.

     5.4.3 Stage 3: Students, faculty, and staff have the responsibility of ensuring that the water faucets are off and reporting any leakage to the facilities department.

     5.4.4 Stage 4: Water usage shall be monitored through the water meters to track consumption and identify areas where water is being used inefficiently.

     5.4.5 Stage 5: A review is conducted every 3 years through a survey in Appendix I to measure the quality, appropriateness, and effectiveness of the policy and fill out the Policy Review Report in Appendix II before submitting it to QA.

6. Roles and responsibilities. 

6.1 Faculty, Staff and Students

     - Assist the management in achieving sustainability goals.

     - Take responsibility for proper waste disposal, water conservation, and energy conservation.

6.2 Senior Management

     - Develop a framework to shape and drive sustainability initiatives across the MCBS community.

     - Establish mechanisms to implement sustainability strategies.

     - Track, measure, and evaluate the progress towards achieving sustainability goals.

6.3 Sustainability Committee

     - Ensure the conservation programs are well managed and implemented.

     - Prepare reports highlighting the progress and achievements based on the conservation programs.

Sustainability Steering Committee (SSC)

The purpose of Sustainability Steering Committee (SSC) is to develop and implement a successful sustainability policy across MCBS. And, to oversee the implementation of the Working Groups as approved by the Board and recommend to the Board any changes to this strategy, helping to ensure undergraduate and graduate students, including members from the Student Council and the Student Environment Club, actively participate in the committee and provide valuable input.

Committee Members:

1. Associate Dean of Community Outreach (Chair)
2. Faculty representatives
3. External experts
4. Undergraduate and graduate students, including members from the Student Council and the Student Environment Club.

Terms of Reference (ToR):

1. Review plans and policies regularly to ensure alignment with MCBS's sustainable policy objectives.
2. Monitor progress towards sustainability goals outlined in the policy.
3. Foster active participation and engagement from all committee members.
4. Shall ensure MCBS’s sustainability initiatives and programs are staffed with diverse individuals and are representative and inclusive of the communities involved.
5. Provide cost-effective resource implications advice to the Executive Committee regarding MCBS’s sustainability vision, goals strategy, and partnerships.
6. Evaluate and provide guidance to Senior Management and the Board on emerging sustainability issues that could impact MCBS’s business, operations, and/or reputation of the company, and make appropriate solutions.
7. Facilitate the implementation of specific policy areas, Working Groups shall be established under the SSC's oversight. These groups shall:
    - Coordinate the execution of their respective policy domains.
    - Share best practices and insights.
    - Draft policy and procedural recommendations to advance sustainability goals.
8. The Working Groups shall report progress and policy proposals annually to the SSC to maintain transparency and accountability.