QIC backs Qatar’s efforts to reduce greenhouse gas emissions by 25% in 2030

By Salma C, Intern Reporter
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The Board of Directors of Qatar Insurance Company (QIC) has agreed to support Qatar’s efforts towards a 25 percent reduction in its greenhouse gas emissions by 2030.

The Board also approved the Environmental, Social and Governance (ESG) Framework developed by QIC under the leadership of Group CEO, Mr. Salem Al Mannai. The long-term ESG strategy aims to adopt ESG policies to its underwriting and asset management philosophy, and it also supports Qatar’s ESG commitments.

Mr. Al Mannai stated that “QIC recognizes that ESG is no longer an option and to ensure sustainable growth, we have agreed to incorporate this in our business strategy.”

An ESG & Sustainability Committee is also set up to ensure that group efforts are focused and channeled to achieve the set goals.

The growth of QIC’s leadership position and evolution into a global insurance and reinsurance group over the past decade will lead to a responsible partner in its corporate governance culture of a responsible stakeholder. The nearly six decades of history are underlined by the fair and equitable treatment of customers, diverse staff, and integrity and transparency in the business. QIC’s foundation is built on exceptional customer experience and the development of local talent.

In line with QIC’s commitment to reducing carbon footprint, the company is spearheading digital transformation initiatives that allow it to switch to a paperless operation. Through Anoud Technologies, a subsidiary of QIC Group and a leading international insurance software solution provider, QIC carries out the ESG initiative to facilitate the digital transformation of other players in the insurance industry in the MENA region, Europe and the US.

QIC is currently paving the way for a sustainable future with Qatar’s vision of adopting a balanced approach that takes care of the environment and the need for human and economic development, QIC hopes that its approach will lead to sustainable business.

Related: Qatar’s QIC bags 4 major titles from Global Banking & Finance Review