Qatari companies warm up to sustainability; MSCI rates country’s sovereign ahead of regional peers: QNBFS

Qatari companies warm up to sustainability; MSCI rates country’s sovereign ahead of regional peers: QNBFS

Qatari companies have warmed up to sustainability as the globe simmers, QNB Financial Services said and noted MSCI has rated the country’s sovereign ahead of regional peers in ESG.

Moreover, QNB's high rating (#1 in Qatar/top-2 among GCC banks), augmented by its sizeable weight in the QSE, puts Qatar front and centre on the sustainability map, QNBFS noted.

Qatar envisions transforming into an advanced society by 2030 with a focus on four key pillars: human, social, economic and the environment.

QNBFS said, arguably three of these pillars have ESG connotations. For example, for ‘E’, an environmental sector strategy (ESS) was created to support Qatar National Vision 2030, premised on the need to sustain the environment for the present and future generations.

That culminated in the establishment of the Ministry of Environment and Climate Change in 2021 as Qatar set a bold goal of reducing greenhouse gas emissions by 25% by 2030, tying this commitment into the larger global climate goals and the Paris Agreement.

More than 90 countries have at least pledged a timeframe within which they hope to achieve net-zero or carbon neutral status – 2050 is the target year set by most countries, although some pledges are as late as 2070.

Over 60% of