AlRayan Bank has become the first Shariah-compliant lender in Qatar to join the PCAF (Partnership for Carbon Accounting Financials).
PCAF is a global collaboration of financial institutions dedicated to harmonised assessments and disclosures of greenhouse gas (GHG) emissions associated with its lending and investment portfolio.
"Joining PCAF is a testament to our commitment to advancing sustainability and transparency. By aligning with global standards, AlRayan Bank is contributing to the fight against climate change and also supporting Qatar's vision for a sustainable future," said Fahad Bin Abdulla al-Khalifa, Group chief executive officer of AlRayan Bank.
This step strengthens its ability to integrate climate considerations into the financing strategies and set meaningful targets that benefit both stakeholders and the environment, he added.
By becoming a PCAF signatory, the bank underscores its dedication to driving environmental responsibility and aligning with international best practices to mitigate the impacts of climate change.
This significant step enhances the bank’s ability to transparently measure and disclose greenhouse gases emissions of all asset classes within their lending and investments portfolios.
This will contribute to informed decision-making based on consistent and comparable data, providing the Bank’s key stakeholders with transparent and reliable metrics.
