Various commitments to fighting climate change have positioned Qatar at the forefront of sustainability initiatives, particularly in major areas of urban planning, transportation, energy, and ESG reporting, according to a report from Invest Qatar.
In ‘Road to ESG Investing: Financing Sustainable Growth in Qatar’, the Investment Promotion Agency Qatar (IPA Qatar), the agency overseeing investment promotion activities under the Invest Qatar brand, stated that the country has achieved major milestones in urban planning, among other areas.
These include the hosting of the first carbon-neutral FIFA World Cup, development of Lusail and Msheireb townships, adoption of Global Sustainability Assessment System standards in buildings, and the efforts of Public Works Authority (Ashghal) in waste recycling, emission monitoring, tree plantation, and reclamation projects.
In energy, some of the milestones include Qatar Petroleum’s transition to QatarEnergy, the establishment of the 800MW capacity Siraj solar power plant, the Tarsheed programme of Qatar General Electricity & Water Corporation (Kahramaa), and the technological innovations by Qatar Solar Technologies (QSTec) and Qatar Science & Technology Park (QSTP). Similarly, in transportation, the then Ministry of Transport and Communication (MoTC) plans to have 25% of total public buses go electric by 2022, Kahramaa’s establishment of 400 electric vehicle charging stations by 2022, and the Doha Metro’s transformation into the backbone of Qatar’s public transportation system.
This also includes Lusail and Education City trams offering eco- and user-friendly commuting options, electric tractors with zero-carbon emissions for Hamad Port, Hamad International Airport’s efforts towards achieving 30% carbon efficiency, and Qatar Airways’ achievements in waste reduction, biodiversity, and energy consumption.
In ESG reporting, the report mentioned the release of ESG guidance by Qatar Stock Exchange (QSE), the launch of Qatar Sustainability Platform to monitor publicly listed companies, and the MSCI QSE 20 ESG Index, as well as plans for mandatory ESG disclosures for public companies.
“The driving forces of Qatar’s national development – National Vision 2030 and the National Development Strategy 2018-2022 – rest on fundamental pillars of environmental and social development.
The recent launches of the National Climate Change Action Plan 2030, National Environment and Climate Change Strategy 2021, and the setting up of a dedicated Ministry for Environment and Climate Change further strengthen Qatar’s commitments to fighting climate change on a global scale.
“Qatar has also been a signatory to all major international agreements and conventions related to sustainable development.
In 2021, the country has submitted its Voluntary National Review for UN SDGs and enhanced Nationally Determined Contribution targets for the Paris Agreement, a non-binding national plan highlighting climate action.
For example, the National Climate Change Action Plan is the most ambitious in the region and sets major targets for the state including a 25% reduction in greenhouse gases by 2030,” the report stated.