Yesterday, the Qatar Central Bank announced the strategy for environmental, social and institutional governance and sustainability for the financial sector, in line with the third strategy, and within the Qatar National Vision 2030. Through this strategy, the Qatar Central Bank seeks to ensure that environmental, social and institutional governance is part of financial and banking transactions in order to achieve Sustainability for future generations.
The ESG and sustainability strategy for the financial sector launched by Qatar Central Bank is based on three basic pillars. The first pillar is based on managing climate, environmental and social risks in the financial sector, while the second pillar will work to encourage capital into the field of sustainable finance. The third pillar It aims for ESG and sustainability to be part of Qatar Central Bank’s internal operations.
The strategy also included a set of desired results and initiatives that will be implemented. In addition to the joint axes that aim to build capabilities and develop the infrastructure for sustainable finance data, by designing special programs for the Qatar Central Bank and the financial sector to enhance capacity building, knowledge and talent related to sustainable finance and climate, environmental and social risk management for financial institutions and capital markets, in addition to building a special platform. Sustainable Finance Data aims to collect and preserve data associated with climate, environmental and social risk assessment.
By launching the strategy, the Central Bank also aims to raise the efficiency of the financial system to support national visions and goals related to sustainability, and to enhance its ability to keep pace with the changes that occur during the transition to a sustainable economy, to be an example to be emulated at the regional and global levels.
