Sharm El Sheikh, November 12 (QNA) - The Gulf Organization for Research and Development (GORD) signed two memoranda of understating (MoU)s one with Baladna Food Industries and Doha Bank on the sidelines of the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCCC), currently taking place Egypt.
In its press release, GORD explained that the recent MoU signed with Baladna aims to support sustainable solutions aimed at ensuring Qatar's food security; capacity building through trainings and educational programs, and decarbonization initiatives aimed at achieving carbon mitigation.
In line with Qatar National Vision 2030 and the National Climate Change Action Plan, the recent MoU will facilitate Doha Bank to boost the bank's green initiatives and develop framework for a robust sustainability strategy and ESG compliance with support from GORD's experience and expertise in the sustainability landscape.
Founding Chairman of GORD Dr. Yousef Alhorr who signed on behalf of GORD on both (MoU) said, "the MoU with Baladna aims at pursuing more research to reduce carbon footprint by developing sustainable cooling technologies in agriculture in places like Qatar that have harsh climatic conditions. Our collaboration today provides an example for organizations across diverse sectors to explore synergies aimed at catalyzing climate action." Commenting on the signing of the MoU with Doha Bank, Alhorr said, "Today, we are collaborating with Doha Bank to establish a foundational framework for the environmental footprint of organizations operating in the financial and business sector." For her part, the signatory on behalf of Baladna, the Environmental, Social and Governance Director at Baladna Wafaa Al Saffar said, "Baladna's cooperation with GORD will be very crucial in strengthening Qatar's food security and ensuring its sustainable development. We are very pleased to work with GORD through the years, pushing our mutual agenda towards a sustainable future." On the other hand the signatory on behalf of Doha Bank, the Head of Strategy, Marketing & ESG of Doha Bank Yousef Abdulla Al Meer stated: "Through our ongoing strategic partnership with the Gulf Organization for Research and Development, Doha Bank is continuing its commitment to the environment to reduce our carbon footprint and support Qatar's vision of a sustainable and carbon neutral economy. At Doha Bank, as a financial institution, we maintain sustainability in our approach to business and to all stakeholders as a cornerstone of future growth. This would enable us to enhance our position locally, regionally and internationally in developing, supporting and contributing to green and eco-friendly solutions." At COP27, Baldna and Doha Bank will also join the GORD Pavilion as the Eco-Champion of Destination Green Program - a multistakeholder initiative gathering organizations to share their success stories in the field of sustainability by showcasing them at international platforms such as COP 27.
The recent MoU between GORD and Baladna comes as a continuation of a former agreement between the two entities where they collaborated on the methane abatement project targeting GHG reduction. Whereas the MoU signed with Doha Bank builds on a range of sustainable projects initiated by Doha Bank over the years.
It is worth mentioning that Doha Bank is the first bank in the State of Qatar to sign an agreement with the United Nations (UN) for environmental, social and institutional sustainability standards. It is also the first bank in the State of Qatar to launch green banking products such as the green account, green car loans, green real estate facilities and other services and products.
GORD is a non-profit organization spearheading MENA region's sustainability milieu. Headquartered in Qatar Science and Technology Park, GORD drives the transformation of societies, industries, and the built environment by influencing corporate ethos, fostering innovation, and developing capacity to enable low-carbon sustainable growth for present and future generations. (QNA)