Commercial Bank's MSCI ESG Rating Upgraded To 'A'

2024-09-16 03:02:46

(MENAFN- The Peninsula) The Peninsula

Doha: Commercial Bank has received a rating of“A” in its recent MSCI ESG ratings assessment.

MSCI 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.

Commercial Bank's“A” rating represents an upgrade from its previous rating of BBB and puts it in among the leading banks in Qatar for ESG ratings.

Joseph Abraham, Commercial Bank Group CEO stated:“Sustainability as a concept and practice is a core part of Commercial Bank's approach through its commitment to the Qatar National Vision 2030, and more recently through its Corporate Sustainability Strategy and active support for Qatar's National Environment and Climate Change Strategy.”

Antonio Gamez Munoz, EGM, Chief Risk Officer & Chairman of Bank's Sustainability Committee, stated:“MSCI's ESG ratings upgrade recognizes Commercial Bank's real and practical actions that we have made to improve our ESG practices across the Bank.

We are committed to a resilient and sustainable financial future in line with the State's goals and we will continue to enhance our ESG practices further in accordance with the latest and best international standards and practices.”

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