Qatar is addressing ESG to create sustainable economic model, says report
August 17 2022 09:16 PM
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Qatar is addressing ESG to create sustainable economic model, says report

Doha

A new environmental, social, and governance (ESG) intelligence report produced by Oxford Business Group (OBG), in partnership with LuLu Group International, maps out how policymakers are addressing local and global environmental and social challenges as the international spotlight shines on the country as host of the 2022 FIFA World Cup.
Titled ‘Qatar’s Sustainable Economic Transition’, the report charts the whole-of-society approach being taken towards creating a more sustainable economic model in the country in an easy-to-navigate and accessible format, supported by data and infographics.
The report looks at how the National Environment and Climate Change Strategy released in 2021 is guiding progress towards responsible consumption and the more sustainable use of natural resources.
With Qatar particularly vulnerable to climate change due to its geographic position, the report shows how food production in Qatar is being made more sustainable, both through the use of innovative production techniques and also by the strategies of food producers and retailers in bringing food to market.
Elsewhere, the report discusses Qatar’s shift towards a circular economy, highlighting the importance of effective waste management and recycling, as well as progress and targets, such as reducing the domestic waste generation ratio below 1.6kg per capita/day and recycling 15% of all solid waste by the end of 2022.
The report also looks at Qatar’s efforts to host the first-ever carbon-neutral FIFA World Cup in November and December this year in an interview with Hassan al-Thawadi, secretary-general of the Supreme Committee for Delivery and Legacy. Al-Thawadi said the tournament is not just about delivering a sustainable event, but a blueprint for the sustainable future of the country.
On social issues, the report examines human capital development efforts in Qatar and the importance of food security to social stability, with a special focus on the progress that the country has made in improving self-sufficiency in key food products.
The report also highlights the positive social legacy of the 2022 FIFA World Cup, with a focus on efforts being made to improve public health and well-being, sporting, and community facilities, and sports participation across all segments of society.
Qatar’s progress in improving transparency and accountability in the business and legal environment, as well as in strengthening anti-corruption measures, are among the key topics analysed in the Governance section of the report.
Here, the report also provides details on the importance of data protection in the FMCG sector and how the growth of e-commerce requires enhanced data security for customers and retailers.
The report details efforts made by LuLu Group International on its ESG journey, as it seeks to become a carbon-neutral company by 2050. Notable corporate progress is documented in reducing and recycling waste, enhancing energy efficiency at outlets, providing customers with sustainable packaging and bag options and expanding access to affordable and nutritious food. LuLu’s works in supporting national efforts to overcome the challenges of the pandemic and improve national food security are also covered.
The ESG intelligence report includes an interview with Dr Mohamed Althaf, director of LuLu Group International, in which he talks about the importance for corporate leaders to adopt an ESG strategy that is appropriate for the national and sectoral context.
“It is important to make sure that ESG goals are aligned with the company’s wider business targets. As such, it is necessary to implement an ESG framework that complements and strengthens existing business units. Corporate strategists must consider how ESG goals can be adapted to meet the requirements of the local market and dovetail with the national economic development plans of the countries in which they operate, such as Qatar Vision 2030,” Althaf said.
Jana Treeck, OBG managing director for the Middle East, said Qatar’s concerted efforts build a more sustainable economic model were generating new opportunities for business and investment in emerging industries.
“The hosting of the first-ever carbon-neutral FIFA World Cup in Qatar this year provides the country with an international platform upon which to showcase the progress it is making in sustainable economic development.
“National strategies and policy directives are generating opportunities in environmentally sustainable and socially impactful business areas, such as clean energy, waste management, and agricultural technology. Such opportunities are mutually beneficial for investors and society,” she said.
This ESG intelligence report on Qatar forms part of a series of tailored studies that OBG is currently producing with its partners, alongside other highly relevant, go-to research tools, including a range of Future Readiness reports, sector-specific Growth and Recovery Outlook articles and interviews.
 



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