QFC tells WEF ‘time has come to address environmental, economic challenges’

QFC tells WEF ‘time has come to address environmental, economic challenges’

Doha

The Qatar Financial Centre (QFC) has said the time has come to address the environmental and economic challenges urgently and effectively.

Speaking at a special session at the World Economic Forum annual meeting held in Davos, Switzerland recently; QFC Authority chief executive Yousuf Mohamed al-Jaida said the environmental and economic challenges confronting the world continue to be exacerbated by rising global temperature and regional conflicts, making life increasingly difficult in many parts of the world.

"Sustainable financial instruments such as green sukuk and bonds are powerful tools the financial sector can leverage to move the needle of climate change toward a more sustainable future," he said.

As part of its commitment to promote a sustainable financial market, the QFC developed sustainable sukuk and bonds framework (SSBF) to ensure that these financial instruments are fully utilised without compromising their integrity, he said.

The session “Transitioning to a Green Middle East”, a panel discussion examined the acute impact of climate change on the Middle East and North Africa region and explored the capacity of global and regional actors to strengthen the region’s climate resilience.

Speaking from a finance perspective, al-Jaida discussed the critical role of sustainable financing instruments, particularly sustainable sukuk and bonds, in