Lulu Group International and the Oxford Business Group (OBG) have produced a new environmental, social and governance (ESG) intelligence report which maps out how policymakers are addressing local and global environmental and social challenges as the international spotlight shines on Qatar as a host of the 2022 FIFA World Cup.
The report, titled “Qatar’s sustainable economic transition”, 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 examines 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, It shows how food production 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.
“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.”
The intelligence report highlights 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 1.6 kg per capita/day and the recycling 15 percent of all solid waste by the end of 2022.
It also details the 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 were also covered.
Ms. Jana Treeck, OBG’s Managing Director for the Middle East said that Qatar’s concerted efforts to build a more sustainable economic model were generating new opportunities for business and investment in emerging industries.