(MENAFN- Gulf Times) The rating upgrade to ‘AA' places QNB Group into the top quartile of the ESG index, and confirms the Group's leadership in the banking sector on this topic.
QNB received a rating of ‘AA' in the MSCI ESG Ratings assessment, conducted by MSCI ESG Research LLC.
Regulator, authorities, policy makers and investors increasingly put more pressure on banks to address environmental, social and governance (ESG) related factors.
These represent risks and add additional complexity for financial service providers to be identified, addressed and managed adequately.
The rating recognises QNB Group as a leader in its industry in managing ESG risks and opportunities. The rating is also a testament that QNB has developed a meaningful sustainability strategy, which addresses all topics of materiality and has been successful in executing upon it.
The rating upgrade to ‘AA' places QNB Group into the top quartile of the ESG index, and confirms the Group's leadership in the banking sector on this topic.
MSCI ESG Research is a leading research and data provider measuring companies' performance on the grounds on Environmental, Social, and Governance (ESG) factors.
MSCI ESG Ratings aim to measure a company's resilience to long-term ESG risks.
QNB Group's presence through its subsidiaries and associate companies extends to some 31 countries across three continents providing a comprehensive range of advanced products and services.
The total number of employees is more than 28,000 serving 20mn customers operating through 1,000 locations, with an ATM network of more than 4,300 machines.
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