Doha: Safeguarding Qatar’s resilience lies in investing sustainably, building cohesive governance frameworks, and empowering women, according to three Qatari Young Global Leaders.
Ahmed Ali Al Hammadi, Chief Investment Officer for Europe, Russia, and Turkey at Qatar Investment Authority (QIA); Sheikha Alanoud bint Hamad Al Thani, Deputy CEO and Chief Business Officer at Qatar Financial Centre (QFC), and Abdulrahman Essa Al Mannai, CEO of Milaha have all been previously selected by the World Economic Forum (WEF) to join the Forum of Young Global Leaders, which identifies the world’s most promising leaders under the age of 40 who are driving innovation for positive change across various sectors.
In an interview with the WEF recently, the three Qatari leaders reiterated that ESG goals are key to building Qatar’s future, ‘one which is based on a knowledge-based economy and industry decarbonisation’.
Al Hammadi said: “We have looked inwards to build our vision and formulate the role that we will play as fiduciaries to Qatar’s future generations. The actions we are taking show the commitment of our industry to shape the global effort on climate change”.
The QIA, in 2017, co-founded the One Planet Sovereign Wealth Funds initiative to work with other sovereign wealth funds and large asset managers in increasing efficiency in global capital allocation and contributing towards the smooth transition to a more sustainable and low-carbon economy.
In the report, Al Hammadi also highlighted the initiative’s growth from six to 43 members, which now account for more than $36 trillion in assets under management.
Sheikha Alanoud, a prominent financial leader who is helping steer Qatar’s transformation into a global financial and commercial hub, noted the rising number of women in the country’s financial sector.
Citing a 2019 data, she said 13.5 percent of senior level positions in QFC companies were filled by women, compared to 8.5 percent in Qatar’s financial sector as a whole.
She added: “This number continues to grow and at the same time, these companies are posting record profits. QFC’s firms are at the forefront of the ESG revolution. I look forward to boosting our interconnectivity with other financial centres and innovation hubs to propel QFC’s evolution into the leading professional services and financial jurisdiction for Qatar and globally”.
Sheikha Alanoud also told WEF that the 1,300 firms in QFC are currently tackling ESG challenges from the energy transition to governance.
According to Al Mannai, who heads one of the Middle East’s largest maritime and logistics companies, leading and inspiring employees to incorporate ESG into their thinking and behaviour is a priority.
“High standards of corporate governance and transparency start at the top and penetrate all levels of the company. We don’t look at this as a compliance measure alone. We have a strong responsibility towards our employees. By looking after their welfare, we will have a happier and more motivated workforce,” said Al
Mannai.
In the report, he also ‘described his efforts in creating a governance charter for the company board, a whistleblowing hotline, frameworks for carbon intensity reduction, and employee wellness initiatives’.
“As one of the largest service providers in the Middle East, and main contributor in facilitating Qatar’s economic activity, we will focus on supporting the maritime, shipping and logistics industry and serving our clients’ choice for reliable, efficient, and sustainable services,” Al Mannai added.
Al Hammadi, who also expressed excitement at Qatar hosting the first carbon-neutral FIFA World Cup in November added: “In 2022, I hope that QIA’s progress will position us as a global sustainability leader. For investment institutions, we have a duty to define investment policies that reflect our values and empower communities globally”.
