Conference on private sector's role in sustainability highlights commitment to environmental responsibility

A conference Tuesday held at the Expo 2023 Doha’s Congress Centre, puts a spotlight on the private sector’s commitment to environmental responsibility.The event, titled "The Role of the Private Sector in Sustainability” and organised by Kuwait Pavilion’s commissioner general Samira al-Kandari, featured three presentations that tackle the importance of working towards a sustainable and environmentally responsible future.A lecture by Gulf Bank titled "Environmental, Social, and Corporate Governance and Sustainability Progress," delivered by Corporate Communications’ deputy general manager Ahmed al-Ameer, underlined a comprehensive set of standards and components to enhance governance management strategies.He unveiled Gulf Bank’s pioneering Environmental, Social, and Governance (ESG) strategy for 2030 and presented the Sustainability Progression report. He noted that the bank financed (external) $1 billion in projects classified as "environment friendly.”Internally, Gulf Bank showcased its commitment to sustainability with initiatives such as branch and head office refurbishments, featuring sustainable elements, a shift towards paperless operations, centralised printers, reusable water bottles for employees, and substantial efforts in electronic and material recycling. The "Rebag” initiative was also introduced to encourage the adoption of reusable shopping bags, described as a crucial step toward positive change.The conference further explored responsible banking with a lecture by Kuwait Finance House (KFH), titled "Responsible Banking to Achieve Sustainable Growth,” which was presented by Mohammed al-Arbeed, executive manager of Governance and Sustainability.He said that KFH is known for its pioneering role in Islamic Finance and Shari'a-compliant banking, noting the importance of banking policies and procedures in ensuring the accurate implementation of sustainable growth strategies.Al-Arbeed said a Memorandum of Understanding between KFH and the United Nations Development Programme (UNDP) was signed, aimed at strengthening alignment with Sustainable Development Goals (SDGs). Under the agreement, UNDP will provide technical support to facilitate investments that align with SDGs through key instruments such as SDGs impact standards and the Green Sukuk framework.The third lecture of the conference, presented by Engineer Bashayer al-Maraghi from Equate Company, focused on "Reducing the Carbon Footprint at the Source.” She outlined Equate's efforts, particularly in polyethylene and ethylene glycol plants, to decrease the use of feed streams contributing to emissions. The goal is to minimise the carbon footprint at its source, aligning with global efforts to combat climate change.