Qatar Free Zones workshop explores ESG integration
25/11/23
Qatar Free Zones Authority (QFZ) successfully held an educational workshop on Environmental, Social and Corporate Governance (ESG) recently. The one-day event, titled 'Workshop on Building Capacity for ESG in Qatar Free Zones,' assembled a diverse set of delegates. Topics of discussion included the opportunities and challenges associated with integrating effective ESG strategies into QFZ based businesses. ESG criteria is employed by socially conscious investors to scrutinize potential investments. Environmental criteria consider how a company safeguards the environment, including corporate policies addressing climate change. Social criteria examine how a company manages relationships with employees, suppliers, customers, and the communities where it operates. Governance delves into a company's leadership, executive compensation, audits, internal controls, and shareholder rights.
The term 'ESG' was coined in 2004 when a report commissioned by the United Nations, titled 'Who Cares Wins - Connecting Financial Markets to a Changing World,' called for better inclusion of environmental, social, and corporate governance (ESG) factors in investment decisions.
Investing within an ESG framework currently represents the fastest-growing segment of the asset management industry. Assets in ESG funds grew by 53% year-on-year to QAR 6.2 trillion (USD 2.7 trillion) in 2021 according to data provided by Morningstar.
QFZ is at the forefront of sustainability. By implementing minimum ESG standards, offering cutting-edge technologies and enforcing reporting requirements for businesses within the zones, QFZ is driving sustainability. Simultaneously, it prioritizes its own infrastructure's environmental and social sustainability, creating a green, dynamic work environment. Aligned with Qatar's ambitious environmental goals, QFZ collaborates with industry leaders.
Business Start Up Qatar offers a network of experts and specialists within the lifecycle of a business. We can offer expertise in Market Research and Assessment Qatar, Qatar Business Case, Qatar Business Model Development, Feasibility Study and Business Plan Qatar, Organizational and Operational Structuring Qatar, Qatar Sponsorship and Partnership, Company Formation Qatar among others.
Please click on the link to learn more about opportunities and possibilities in the State of Qatar as well as the initiatives of Business Start Up Qatar.
