Bank has been ranked first in Qatar and among top three banks in the Arab world by ESG Invest
Thanks to its tireless pursuit of sustainable practices across all aspects of operations, Doha Bank, one of the largest private commercial banks in Qatar, has retained the top rating for the second year in a row in the annual Environmental, Social and Governance (ESG) review of companies listed on Qatar Stock Exchange by ESG Invest, the investment research arm of Sustainability Excellence.
ESG Invest provides comprehensive ESG ratings research reports that quantify the ESG performance of companies in the Arab world. The firm’s team of analysts assess ESG data points across nine Sustainability Dimensions and 43 ESG issues with more than 180 data points for companies in the region, analyzing levels of integration of ESG issues within the companies’ core business activities.
Having completed comprehensive ESG reports for over 700 companies in the region, Doha Bank has been ranked first in Qatar and among the top three banks in the Arab world in 2018.
On receiving the 2018 rating, Dr. R. Seetharaman, Group CEO of Doha Bank, said, “Doha Bank’s retention of its number 1 spot in Qatar is a matter of great institutional pride and is a reflection of our consistent focus on prioritizing Corporate Governance, Risk Management, and ESG performance. Our rating among top three banks in the Arab world has reenergized our pursuit of international best practices across all our operations. We remain committed to continue focusing on our environmental and social agenda and adopting the highest standards of governance practices, thereby leading the efforts towards promoting sustainable banking in the region.”
Doha Bank has continued its focus on sustainability throughout the year, recording a number of key successes. The Bank’s 11th annual Sustainability Report, due to be released in Q1 2019, will highlight key initiatives such as:
- Becoming the first Qatari bank to sign up to UN Global Compact (UNGC), a UN policy initiative encouraging businesses worldwide to adopt sustainable and socially responsible policies.
- Being the first Qatari bank to be selected for the FTSE4Good Emerging Index, a benchmark designed to measure the performance of companies demonstrating strong ESG practices. The index comprises of companies selected through an assessment of over 300 data points.
- Launching of the Green Car Loan with an array of attractive benefits for customers making environmentally-friendly choices by buying electric or hybrid cars.
In line with International best practice, Doha Bank has recently published its approach to Sustainable Finance and Responsible Investment on its website (www.dohabank.com). Aligned to the Doha Bank Risk Management Strategy and set out in its Risk Management Framework, ESG risk analysis is incorporated into the credit assessment for Corporate Lending and approval process for investment decisions.
Doha Bank has also received notification that it will be invited to make an application for membership of the Dow Jones Sustainability Index in March 2019. The Dow Jones Sustainability Index was launched in 1999 as the first global sustainability benchmark. The Index tracks the stock performance of the world’s leading companies in terms of ESG criteria and serves as benchmarks for investors who integrate sustainability considerations into their portfolios.