GORD and QNB Group Sign MoU for Sustainable Finance Solutions in Qatar

GORD and QNB Group Partner to Advance Sustainable Finance in Qatar Doha, September 08 (QNA) - The Gulf Organization for Research and Development (GORD) and QNB Group have formalized a Memorandum of Understanding (MoU) aimed at jointly investigating and crafting sustainable finance mechanisms for eligible corporate ventures in Qatar. This alliance seeks to merge QNB's corporate banking and funding strengths with GORD's proficiency in the Global Sustainability Assessment System (GSAS), certification assistance, sustainability consulting, impact evaluation and reporting, and skill development. Per the MoU, both entities will examine prospective actions such as green financing products tied to GSAS and incentive frameworks, combined funding and consulting offerings, initiatives to boost client awareness, and educational and knowledge-exchange sessions. Dr. Yousef Alhorr, GORD's Founding Chairman, remarked that uniting sustainable finance with dependable sustainability evaluation could assist enterprises in converting environmental pledges into concrete investment choices. He emphasized that leveraging GORD's technical know-how and the GSAS structure aims to back funding options that incentivize enhanced environmental performance and hasten sustainable investment throughout vital sectors in Qatar. Khalid Ahmed Al Sada, Senior Executive Vice President of Group Corporate and Institutional Banking at QNB Group, noted that this partnership merges corresponding financial and technical skills to aid corporate clients pursuing genuine sustainability targets. He stated that pairing QNB's funding abilities and insight into evolving client demands with GORD's GSAS certification and advisory knowledge intends to investigate solutions for qualifying projects delivering quantifiable sustainability results. Al Sada further mentioned that the MoU underscores an ongoing dedication to weaving sustainability into corporate banking offerings and guiding clients toward more eco-conscious operations and investments, thereby bolstering Qatar National Vision 2030 and advancing QNB Group's Net Zero 2050 Commitment. The MoU is also set to enable knowledge exchange and capability enhancement for pertinent teams and corporate stakeholders, deepening their grasp of sustainability criteria, project evaluation, certification, and impact documentation. Any offerings, financial structures, incentives, or advantages arising from this collaboration will be contingent on QNB's Sustainable Finance Product Framework, legal and regulatory stipulations, internal authorizations, and applicable client and project qualification standards. (QNA)