Commercial Bank Wins 'Best Green Financing Initiative' And 'Sustainable And Green Bank Of The Year In Qatar'

Doha: Commercial Bank, a leader in innovative digital banking services in Qatar, has received the prestigious“Best Green Financing Initiative” award and“Sustainable and Green Bank of the Year in Qatar” award from the Asian Banker.

Commercial Bank is taking steps to integrate sustainability into its corporate strategy, aligning with Qatar National Vision 2030 and the National Environment and Climate Change Strategy. By implementing a robust ESG framework, including ESG Risk Criteria for Lending & Investment and a Sustainable Finance Framework, the Bank is empowering its stakeholders with training, workshops, and e-learning to embed ESG principles in its operations.

Commercial Bank's commitment has extended to innovative green financing initiatives such as its largest ever CHF Green bond issued from Qatar, a debut CHF 225 million Green Bond, Green Vehicle Loans in collaboration with electric vehicle dealers, and Green Mortgage Loans tied to certified sustainable properties.

Operationally, the Bank will aim to transition its fleet to 100% electric by 2025 and adopting energy-efficient measures, targeting a 25% reduction in GHG emissions by 2030.

Joseph Abraham, Group CEO of Commercial Bank said:“Receiving these prestigious accolades not only aligns with our strategic vision but also positions Commercial Bank at the forefront of environmental stewardship, while delivering value to our investors and the broader community.”

Noman Ali, EGM, Chief Financial Officer and Chief Sustainability Officer of Commercial Bank said:“We recognize that the future of banking lies in integrating innovation with responsibility, ensuring that we not only meet the evolving needs of our customers while fostering a sustainable and forward-thinking financial ecosystem. This achievement underscores our dedication to responsible financing, with a vision to drive meaningful environmental impact.”

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