In line with these Doha Brokerage & Financial Services Limited (DBFS), associate of Doha Bank has signed a Memorandum of Understanding (MoU) with Bunge Investment Management Limited (Bunge) through its affiliate company Eco- invest Carbon SA (Eco-invest). The MoU was signed for three pronged areas – carbon emissions risk management services, carbon emissions advisory services and carbon emission credit origination services in the Indian and Middle Eastern markets.DBFS is a brokerage institution having a preeminent position in Middle Eastern and Indian markets and Eco-invest is a world renowned player, having extensive experience and technical expertise in the development of projects intended to receive credits for reductions of carbon emissions of greenhouse gases. Dr. R Seetharaman, Chairman DBFS expressed his happiness over the agreement and said that the three fold service offerings through Eco-invest will go a long way in development of the Middle Eastern and Indian markets, and, will definitely boost the ongoing environmental friendly initiatives currently being undertaken in these regions. He said, ‘This MoU is a part of the DBFS ongoing corporate social responsibility initiatives and has positioned DBFS as a pioneer in this business segment in the Middle Eastern and Indian markets’.
Carbon Mercantile Exchange:
In light of the above it is very important for Doha Bank to develop a good business model in line with its Global Warming and Climate Change – Corporate Social Responsibility initiatives. Accordingly, factoring the element of corporate social responsibility in the business model, Carbon Mercantile Exchange project has been initiated by Doha Bank. The necessary preliminary ground work for this Carbon Mercantile Exchange has been carried out across the globe by the bank. Further, it is also brought to attention that Doha Bank is the first bank in the Middle East Region to support sustainable investments and renewable energy.
Islamic USD 1 billion Sukuk:
In continuation with the bank’s Global Warming and Climate Change – Corporate Social Responsibility – Green initiatives and the related business model, it’s been proposed for issue to the public an Islamic USD 1 billion.
1 st Eco-Friendly Card in GCC Launched in Qatar:
Doha Bank in association with Visa Inc, the leading payment solutions provider, launched the Go- Green Visa Credit Card in 2009. The environment-friendly credit card is a first for the region and marks the latest innovative payment product from Doha Bank. The Go-Green Visa Credit Card is manufactured from bio-degradable material and the cardholders are able to manage their accounts electronically. E-statements reduce paper usage and wastage and all communication relating to the card is printed on recycled material. Furthermore, 1% of all that customers spend through the Go-Green card will be converted into Green points and donated to an approved Green cause that supports environmental initiatives such as tree planting in Qatar. Dr. R Seetharaman, Doha Bank CEO always has maintained that Doha Bank has always been passionate about Mother Nature. We’ve pioneered the Green Banking paperless concept by getting customers to open new Green accounts. With the new Go-Green Card we hope to maintain our position as the Best Green Bank in the Middle East and contribute to a cleaner and greener Qatar.
Dr. R Seetharaman, Doha Bank Group CEO said “Doha Bank is proud to have UNESCO, an international organization, be our Partner in Doha Bank’s drive towards greening and cleaning Qatar. The Partnership will have a positive contribution to the environment through the collaboration of education, science and culture to further promote social and environmental responsibility. As a forward-thinking and socially responsible Bank, we continue to embrace sustainable business practices to satisfy customers and promote strong environmental stewardship. Even from within the organization, we have taken measures to instill the value of green culture among the staff through various eco-related activities. Doha Bank also arranges green activities that include the Annual Al Dana Green Run, Green Quiz, Green Seminars and Conferences, Recycling, Beach Clean-up, Tree Planting and more. These are small steps which will make big difference.”
“We must do our part to conserve the ecological balances globally. The need to develop environmentally and economically sustainable businesses is becoming stronger, so that the globe remains a healthy place to live for everyone. We need to strive towards investing in approved and UN-compliant clean energy carbon credit programs. Investments made now in clean energy projects represent the future and will be a hedge against possible oil-deflation prices as well as profit-generating on their own account.” he added.
Doha Bank is one of the leading Banks in Qatar and the Gulf Cooperation Council (GCC) region, actively expanding its branches network throughout the region. It has a proud record of providing exceptional services and innovative products to customers. This record reflects the traditions of our culture, and is one, that endeavors to pioneer and continue being in the forefront of making a lasting positive impact on the environment and sustainable development.
Dr. R Seetharaman, CEO of Doha Bank Group remarked, “We at Doha Bank supports the World Environment Day campaign to save the forests since the world’s forests protect land and water resources, provide renewable raw materials and energy, maintain biodiversity, and contribute an essential role in the climate change mitigation. The forests influence climate change mainly by affecting the amount of carbon dioxide in the atmosphere. When the forests grow, carbon is accordingly removed from the atmosphere and absorbed in the wood, leaves and soil. This is in line with the Bank’s Green Banking initiative aimed at increasing public and corporate awareness on Corporate Social Responsibility around the world pertaining to the harmful effects of and Climate Change.” Doha Bank has taken various proactive measures in addressing Climate Change and its consequences whereby proactively propagating energy saving measures as a corporate habit. Doha Bank is also committed to be a carbon neutral entity with a goal to reduce its carbon footprint; energy, water and paper consumption. Other environmental activities such as recycling, buying of environment-friendly goods, planting trees, beach clean-up and etc. were also implemented. Doha Bank has won the Golden Peacock Global Award for Corporate Social Responsibility in 2011/2010. We at Doha Bank; practice what we preach to set an example to the community; such small steps will make big difference,” Dr. R Seetharaman added.