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23-06-22

Qatar focuses on ecological sustainability mainly in ecosystem investment

(MENAFN) A senior official throughout an industry roundtable discussion stated that Qatar has stayed concentrated on ecological sustainability mainly when it comes to producing an ecosystem for investment.

Addressing the roundtable discussion, H E Envoy Bader Omar Al Dafa, Special Ambassador for Climate Change and Sustainability at the Ministry of Foreign Affairs pointed on steadiness in Qatar.

And He further noted that “The process has already started here and Qatar is one of the leading countries with environmental, social, and governance (ESG) policies, whether it is the public or the private sector. It is more important to educate the public about ESG and the more educated they are the better response we will have in dealing with sustainability”.

H E Sheikh Ali Alwaleed Al Thani, chief executive of Investment Promotion Agency (IPA) Qatar stated that “When it comes to ESG in Qatar, and especially ‘E’ and the ‘S’ were enshrined in our National Vision back in 2008 before this topic went into the mainstream. Qatar very much focuses on environmental sustainability especially when it comes to generating an ecosystem for investment and this is what investors are looking for. They are looking for environmentally sustainable ways to invest and also for impact investing that is investment which will lead to impact when it comes to social and environmental development”.

Sheikh Ali further mentioned that “Later today, we are signing an agreement with Green Boom – a company that will manufacture environmentally friendly absorbent in Qatar and will significantly reduce the carbon intensity of our hydrocarbon facilities.”

He analyzed that “So, there are many opportunities for us, and we are working towards providing a platform that investors can view as being a platform for impact investing especially when it comes to environmental and social development.”

In reply to inquiry about delivering green bonds as part of ESG, Sheikh Ali stated that “We already launched around $600m worth of green bonds and to expand that offering across different domestic banks, I think would be important as part of Qatar’s ESG portfolio. Governments can play big role in incentivising companies, helping them get to scale and also to achieve the necessary technological advancements to make their products more competitive”.

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