About Sustainability

The stakeholders- investors, customers, employees and regulatory authorities consider sustainability as key criteria to engage with any business. The responsibilities of corporates have expanded beyond sales and profit generation in a way that the environment and the society at large in which the business operates have come to occupy key space in order for the business to achieve a stable and sustainable future. Over the years, the impact of risks of climate change, forests and freshwater depletion etc., is endangering the lives and well-being of future generations and of any business. The financial impact of such man-made disasters is getting many businesses bankrupt and society displaced.

Qatar is especially vulnerable to global warming’s impacts. Geographically with less arable land and water resources for the development of carbon sinks, forests, and green areas, Qatar is more vulnerable to climate disaster due to rising sea level and increasing temperature. Oil and Gas industry is the major contributor in Qatar GDP as well as Greenhouse Gas (GHG) emissions.

Actions of corporates in the way it runs its business recognizing the impact of environment, social development, and governance to prevent catastrophes have assumed an urgent necessity before it’s late. The need of the hour is for mankind to assume responsibility for conserving, protecting, and growing the environment and the society. The way one carries, behaves, and conducts, be that an individual or corporate in interacting and integrating environment, society and governance factors in their decisions and actions will distinguish one from the other.

With increasing stake holder scrutiny and demands, only a responsive corporate with transparent and sound corporate governance practices sensitive to social, human and environment values will command market support and better valuation.

To neutralize environmental impact, Qatar is committed as per Paris Agreement 2015 on 25% reduction in carbon footprint by 2030. The National Vision of 2030 already recognizes the importance of environment, social and human development along with economic progress.

QIC pledges support to Qatar’s commitment to climate change

At QIC, we have been very conscious of its obligation and responsibilities from quite early when Qatar’s National Vision 2030 was launched in October 2008. As a prominent player in the region, QIC intends now to lead the industry in this global climate protection movement. QIC has since formalized an ESG (Environment, Social, Governance) framework and business strategy to integrate ESG (Environment, Social, Governance) into every aspect of its business operations and decision making. A dedicated function has been launched to organize and manage ESG (Environment, Social, Governance) initiatives and activities for planned achievement of ESG (Environment, Social, Governance) goals