PHOTO
Doha: As part of its commitment to sustainable development, QNB Group, the largest financial institution in the Middle East and Africa, has joined the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative, promoting better business practices in the areas of human rights, labor, environment and anti-corruption.
This new partnership comes within the increasing focus on sustainability as one of the most pressing topics across all industries.
QNB Group, Acting Group CEO Abdulla Mubarak Al-Khalifa stated: “We are early on in our sustainability journey and I firmly believe a proactive approach to managing environmental, social and governance factors will strengthen our business resilience in the long-term and support QNB Group’s position as the largest financial institution in the Middle East and Africa. By joining the UNGC, we commit to embed its principles as part of the culture and day-to-day operations of the Group and to engage in projects which advance the broader objectives of the United Nations Sustainable Development Goal and the Qatar National Vision 2030.”
The UNGC provides a principle-based framework, best practices and resources that enables companies globally to conduct business responsibly, ethically while, contributing to the betterment of the society. With 13,000 participants and stakeholders in 170 countries, it helps organizations catalyze action, secure partnerships and collaborate. This initiative aims to mobilize a global movement of sustainable companies and stakeholders to create a more sustainable world. To make this happen, the UNGC supports companies on two main pillars: Doing business responsibly by aligning their strategies and operations with Ten Principles on human rights, labor, environment and anti-corruption; and take strategic actions to advance broader societal goals, such as the UN Sustainable Development Goals, with an emphasis on collaboration and innovation.
Supporting this initiative, QNB recently launched its Group-wide sustainability strategy across the organization in line with national and international standards. As a result, it has improved the way in which it incorporates sustainability (Environment, Social and Governance) criteria into its financing activities, launched initiatives to reduce its environmental impact and supported local communities through volunteering and donations. Furthermore, QNB strengthened its risk management framework and improved the transparency of its corporate governance business practices, ensuring it operates in a responsible and ethical manner.
QNB Group’s presence, through its subsidiaries and associate companies, extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 30,000 operating through more than 1,100 locations, with an ATM network of more than 4,400 machines.
-Ends-
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
