Third Environmental, Social and Governance Conference convenes in Doha

The Third Environmental, Social and Governance (ESG) Conference commenced in Doha on Tuesday. The two-day event, co-organized by Qatar Chamber (QC), Hawkama International, and the Institute of Sustainability and Environmental Professionals in the United Kingdom, gathered officials and experts from international institutions. The conference underscores the increasing role of financial institutions and the private sector in fostering a more sustainable economy, emphasizing the significance of embracing responsible corporate practices and managing risks associated with environmental, social, and governance factors.

First Vice Chairman of QC, Mohamed bin Ahmed bin Twar Al Kuwari, emphasized that ESG standards are integral to the contemporary business landscape, enhancing corporate sustainability, growth, competitiveness, and adaptability in the face of global economic shifts. He highlighted that sustainability is now viewed as a holistic approach, encompassing environmental stewardship, societal responsibility, good governance, transparency, disclosure, and accountability.

Al Kuwari underscored QC's dedication to promoting governance and sustainability principles within the business community, acknowledging that these principles bolster corporate efficiency, risk management, competitiveness, and long-term sustainability.

QC's commitment to advancing ESG practices aligns with Qatar's objective of fostering a diverse, competitive, and sustainable economy, bolstering the private sector's contribution to achieving the Sustainable Development Goals and Qatar National Vision 2030. Al Kuwari stressed that the conference serves to facilitate dialogue, disseminate knowledge, exchange expertise, facilitate corporate practice development, and leverage local and international experiences.

He remarked that achieving a sustainable economy necessitates collaborative efforts from governments, the private sector, financial institutions, and academic entities, working collectively to cultivate a culture of sustainability and governance, transforming it into measurable and continuously evolving corporate practices.

Dr. Buthaina Al Ansari, Chairperson of Hawkama International and Conference President, unveiled Qatar's specialized digital platform aimed at helping institutions prepare ESG reports systematically and adhere to international standards. She stressed that while sustainability reporting has become a norm among global corporations, the challenge lies in transforming data and indicators into actionable decisions and measurable outcomes, catering to investors, financiers, and boards of directors to assess risks, comprehend investment value determinants, guide institutions, and safeguard stakeholder interests.

Dr. Al Ansari noted that the financial sector in Qatar is crucial in advancing sustainability goals, commending the Qatar Central Bank for its ESG strategy and the banks' role in promoting sustainable finance and developing innovative financial tools. She stressed the importance of harmonizing domestic regulatory frameworks with international standards to enhance transparency and data quality.

The conference featured diverse panel discussions on key ESG issues, strategies for integrating sustainability standards into corporate strategies, and the pivotal role of good governance, transparency, and disclosure in strengthening institutional performance and investor confidence.