Qatar’s QNB, GORD pen deal to promote sustainable building practices

By Shilpa Annie Joseph, Desk Reporter
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Qatar-based multinational commercial financial institution, Qatar National Bank (QNB) has signed an agreement with the Gulf Organization for Research and Development (GORD) to promote sustainable building techniques through the implementation of the Global Sustainability Assessment System (GSAS).

QNB will offer green mortgage promotions to real estate developments seeking GSAS green building certifications as part of the deal.

According to the statement, “QNB is the first in the region to apply GSAS metrics as part of its efforts towards sustainable development, and dedication to its customers to always offer innovative solutions through its products and services.” This alliance with GORD will lead to introducing further attractive promotional interest rates for green properties and assets.

This MOU strengthens the Group’s efforts in reducing climate change impacts with its distinctive goods and services that stimulate a change in customer behavior towards more sustainable practices.

The group’s lead in regional rankings, where it obtained an ‘AA’ ESG rating from MSCI, has been made possible by continued action and a focus on sustainable efforts. Additionally, the group was recognized by the Climate Bonds Initiative (CBI) as a ‘Green Pioneer in Qatar.’

Further, it has received the Global Finance Sustainable Finance Awards for ‘Outstanding Sustainable Financing in Emerging Markets’ and ‘Outstanding Leadership in Green Bonds.’

A green mortgage and green vehicle loan promotion offer with exceptionally favorable interest rates are among QNB’s sustainable products and services. The bank will use the GSAS star grading system to evaluate if a client is eligible for a green mortgage for sustainable properties and assets.

MENA’s first performance-based green building system, GORD’s GSAS intends to improve building design, construction, and operations while also addressing sustainability concerns unique to the region’s built environment.

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