Tribune News Network
Doha
The Gulf Organisation for Research and Development (GORD) and Doha Bank have signed a memorandum of understating (MoU) to cooperate in driving change towards the creation of the circular economy through sustainability initiatives in financial sector.
The MoU was signed by Dr Yousef Alhorr, Founding Chairman of GORD, and Yousef Abdulla A M Al-Meer, Head of Strategy, Marketing & ESG of Doha Bank on November 10, 2022, in Egypt. The country hosted the 27th session of the Conference of the Parties (COP27) to the UNFCCC, where governments, NGOs, trade unions, businesses and stakeholders with interest in climate change met to review and negotiate global action.
In line with Qatar National Vision and the National Climate Change Action Plan, the recent MoU will facilitate Doha Bank to boost the bank’s green initiatives, develop framework for a robust sustainability strategy,ESG compliance with support from GORD’s experience and expertise in the sustainability landscape.
Addressing the audience of climate experts representing leading international organizations, institutions and think tanks attending the MoU signing ceremony at GORD Pavilion during COP, Dr. Yousef Alhorr, Founding Chairman of GORD, said, “The last few years have seen a dramatic rise in greenwashing practices, which are hampering the progress of environmental initiatives led by genuine parties. To address the issue, all public listed corporates in Qatar are now required to review their climate impact through transparent sustainability reporting that reflects the organization’s efforts in environmental, social and governance aspects. Today, we are collaborating with Doha Bank to establish a foundational framework for the environmental footprint of organizations operating in the financial and business sector.”
Yousef Abdulla A M Al-Meer of Doha Bank extended his thanks to GORD’s Founding Chairman for the continuity of the strategic relationship between the two parties. “Through our ongoing strategic partnership with the Gulf Organisation for Research and Development, Doha Bank is continuing its commitment to the environment to reduce our carbon footprint and support Qatar’s vision of a sustainable and carbon neutral economy. At Doha Bank, as a financial institution, we maintain sustainability in our approach to business and to all stakeholders as a cornerstone of future growth. This would enable us to enhance our position locally, regionally and internationally in developing, supporting and contributing to green and eco-friendly solutions.”
The recent MoU builds on a range of sustainable projects initiated by Doha Bank over the years. Doha Bank is the first bank in the State of Qatar to sign an agreement with the United Nations (UN) for environmental, social and institutional sustainability standards. It is also the first bank in the State of Qatar to launch green banking products such as the green account, green car loans, green real estate facilities and other services and products.
GORD’s partnership with the bank is among a number of alliances the organization formalized during the first week of its participation at COP27 where a delegation of climate experts from GORD are offering insightful presentations, seminars and panel discussions.
