Qatar Development Bank’s innovative approach to finance is upholding long-term environmental, economic and social prosperity.
Banks play an important role in promoting sustainability and reducing the carbon footprint.
For example, certain lenders offer financing schemes for eco-friendly projects that enable the transition towards a greener economy and contribute to the global effort to mitigate climate change.
In this way, banks can support the development of green infrastructure such as renewable energy projects, energy-efficient buildings and sustainable transport systems.
Case in point, Qatar Development Bank (QDB) has implemented proactive measures to mitigate environmental degradation and promote sustainable development. The bank offers its clients competitive financing schemes to either manufacture eco-friendly products or adopt clean and sustainable technologies that reduce energy costs and the carbon footprint.
As a result of these efforts, QDB has been honoured with the prestigious title of Mena Sustainable Bank of the Year at the Mena Banking Excellence Awards 2023.
Since the launch of its Green Financing programme, QDB has enabled companies with sustainable business models to access financing at below-market rates and low monthly payments. In addition, the lender has partnered with the Gulf Organisation for Research & Development (GORD) to establish a comprehensive framework to evaluate the eco-friendliness of projects that seek funding. Meanwhile, the bank’s collaboration with Earthna, a non-profit research centre set up by the Qatar Foundation, aims to influence national and global sustainability policies, demonstrating QDB’s commitment to prioritise sustainable development.
Focusing on sustainability
By adopting a triple-bottomline approach, the lender provides support to eco-friendly startups and clean energy projects through incubation programmes, preferential financing solutions and venture capital investments in promising clean technologies.
As of 2022, the lender had disbursed loans amounting to QR813m ($223m) to more than 28 companies with projects focused on waste management, water treatment, recycling, clean technology and energy efficiency.
Moreover, QDB has actively promoted paperless business operations and is committed to achieving 100 per cent paperless operations across various divisions. In 2020, the bank embarked on a highly capitalised digitisation journey to reduce paper use in both internal processes and client-facing transactions.
QDB’s achievements in sustainable banking indicate its dedication to sustainable development, its creative methodology for sustainable finance and its endeavours to promote sustainability both internally and externally. With green financing solutions, paperless operations and cooperation with other organisations for sustainability, the lender is spearheading a transformation in the industry and paving the path towards a more sustainable future.
Green ventures
Qatar Development Bank (QDB) is supporting companies in reducing their carbon footprint through its digitisation programme, which provides financing to small and medium-sized enterprises (SMEs) seeking technological solutions to digitise their operations and upgrade their technology.
The bank has implemented several programmes and initiatives that prioritise environmental, social responsibility and governance (ESG) investments in its business activities. This has resulted in the launch of several environmentally friendly projects and has enabled businesses to transition towards a more sustainable future.
QDB’s assistance for environment-conscious enterprises has transcended traditional financing and support services. The lender is aiming to facilitate connections between clients with a pro-environment outlook and investment opportunities in ecologically responsible ventures.
Qatar Development Bank has been named Mena Sustainable Bank of the Year at the Mena Banking Excellence Awards 2023.