Tribune News Network
Doha
In line with the third financial sector strategy and Qatar National Vision 2030 that attaches utmost importance to sustainable development, Qatar Central Bank (QCB) on Wednesday launched the ESG and sustainability strategy for the financial sector.
This strategy will constitute a unique addition to the financial sector in the country as QCB seeks to make ESG part of the financial and banking transactions in order to achieve sustainability for future generations.
The ESG and sustainability strategy for the financial sector launched by QCB is anchored around 3 fundamental pillars: the first pillar is based on financial sector climate, environmental and social risks management while the second pillar consists of capital mobilization towards sustainable finance and the third pillar aims to embed ESG and sustainability as part of QCB’s internal operations.
The ESG and sustainability strategy for the financial sector also defines a set of aspirations and initiatives. In addition to cross-cutting themes that primarily aim to build capabilities and developing sustainable finance data infrastructure, by designing special programmes for QCB and the financial sector to build capabilities, knowledge and talents in relation with sustainable finance and climate, environmental and social risk management for financial institutions and capital markets.
As well as building a sustainable finance data platform to collect and aggregate relevant data for climate, environmental and social risksassessment.
QCB’s launch of the ESG and sustainability strategy for the financial sector aims to strengthen the financial system’s capacity to support national sustainability visions and goals, and make it resilient to changes occurring from the transition to a sustainable economy, while also aspiring to inspire both regionally and globally.