Doha Bank forges strategic alliance with Gord to lead ESG transformation

Doha Bank GCEO Sheikh Abdulrahman bin Fahad al-Thani and Gord chairman Dr Yousef al-Horr shaking hands after signing the agreement on the sidelines of the Qatar Economic Forum 2024.

Doha Bank has announced a partnership with the Gulf Organisation for Research and Development (Gord), a leading organisation supporting sustainability practices and addressing climate change.

The launch of this engagement, which is part of the bank’s efforts to strengthen its leadership in adopting the best global practices related to environmental, social, and governance standards, was signed by Doha Bank GCEO Sheikh Abdulrahman bin Fahad al-Thani and Gord chairman Dr Yousef al-Horr on the sidelines of Qatar Economic Forum 2024.

The partnership showcases the significance of Doha Bank and Gord’s strategic alliance in the context of the Qatar National Vision 2030.

Sheikh Abdulrahman stated that the partnership is in line with the bank’s approach to developing its environmental, social, and corporate governance practices as part of a comprehensive transformation process.

He highlighted the role of Gord and its expertise in charting a strategic roadmap to integrate these standards into all of the bank’s operations.

Al-Horr said: “The collaboration between Gord and Doha Bank will not only solidify our shared commitment to environmental and social responsibility but also demonstrably enhance the bank’s investor sentiment.”

He explained that Gord’s comprehensive ESG services will encompass strategic guidance and integration, from developing a tailored ESG strategy in line with international standards and the Qatar Central Bank’s requirements to identifying material issues and integrating them into the bank’s core operations, from lending and investment practices to product development.

“Climate change presents both challenges and opportunities. By effectively managing climate-related financial risks and adhering to evolving regulations surrounding ESG disclosure and reporting, we strive to position Doha Bank as a leader in Qatar’s sustainable finance ecosystem,” he added.

The implementation process will be carried out in phases, beginning with the alignment of the bank’s strategy in environmental, social and governance areas with Qatar National Vision 2030.

Subsequently, the second phase will focus on developing strategies to identify climate-related risks and opportunities and manage them efficiently and in line with the best global practices, which will further enhance Doha Bank’s leading position in sustainable finance in the region.