Qatar Central Bank (QCB) has launched the Sustainable Finance Framework, in line with the Third Financial Sector Strategic Plan and the Environmental, Social and Corporate Governance (ESG) and Sustainability Strategy for the Financial Sector.
QCB said in a statement the newly issued framework is based on several key elements, including enhanced transparency, revenue management, reporting and external audit.
The statement added that the objectives of the framework were strategically formulated to open new opportunities for growth and innovation in Qatar.
This framework represents QCB’s proactive step to incorporate sustainable Islamic financial instruments and support the transition to a resilient and inclusive economy that balances the requirements of economic growth with environmental and social responsibility.
The Third Financial Sector Strategic Plan, issued by QCB in 2023, aims to create a financial and capital market that leads the region in innovation, efficiency and investor protection and positions Qatar to unlock its full economic potential in line with the 2030 National Vision. This plan has an ESG and sustainability cross-cutting theme, which is elaborated on in the ESG and Sustainability Strategy for the Financial Sector.