QNB, the largest financial institution in the Middle East and Africa, has signed a memorandum of understanding (MoU) with the Gulf Organisation for Research and Development (GORD) to promote sustainable building practices with the use of the Global Sustainability Assessment System (GSAS).
As part of the agreement, QNB will provide green mortgage promotions to real estate projects seeking green building certifications under the GSAS framework.
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.
The bank will use the GSAS star rating system to determine the client’s eligibility to avail a green mortgage for sustainable properties and assets.
GORD’s GSAS is Middle East and North Africa's first performance-based green building system aimed at improving the design, construction and operations of buildings while also identifying sustainability challenges specific to the region’s built environment.
This collaboration with GORD will lead to introducing further attractive promotional interest rates for green properties and assets, according to QNB.
This MoU enhances the group’s efforts in mitigating climate change impacts with its unique products and services that encourage a change in consumer behaviour towards more sustainable practices.
QNB’s sustainable products and services include a green mortgage and green vehicle loan promotion offer with highly attractive interest rates.
The continued action and focus on sustainability initiatives have enabled the group’s lead in regional rankings, where it received an “AA” ESG rating from MSCI.
Additionally, the group was recognised by the Climate Bonds Initiative (CBI) as a “Green Pioneer in Qatar”, and has received the Global Finance Sustainable Finance Awards for “Outstanding Sustainable Financing in Emerging Markets” and “Outstanding Leadership in Green Bonds”.
Through its subsidiaries and associate companies, the QNB Group extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services.
The total number of employees is 28,000 operating through 1,000 locations, with an ATM network of more than 4,600 machines.