Ash Shīḩānīyah

Al Khawr wa adh Dhakhīrah

Umm Şalāl

Ash Shamāl

Al Wakrah

Ar Rayyān

Az̧ Z̧a‘āyin

Ad Dawḩah

Qatar

Qatar Nationally Determined Contribution. NDC3.0

In 2022, the Qatar Financial Centre (QFC) developed a Sustainable Sukuk and Bonds Framework, which is based on the International Capital Markets Association (ICMA)’s Green Bond Principles (GBP) 2021, Social Bond Principles (SBP) 2021, and Sustainability Bond Guidelines (SBG) 2021. This framework would collectively, provide voluntary yet internationally accepted principles and guidelines for the issuance of such instruments.&nbsp;

The proceeds from any Sukuk / bonds must always be utilized solely for purposes that are aligned with the type of issuance (i.e. Green, Social or Sustainability) and provide clear environmental and/or social benefits.

The net proceeds from an issuance, can be used by way of investment in, financing and/or refinancing of eligible green and/or social projects. Examples of eligible green projects include:&nbsp;
(a)            Climate Change Adaptation or Mitigation (including efforts to make infrastructure more resilient to impacts of climate change, as well as information support systems, such as climate observation and early warning systems).
(b)            Pollution Prevention and Control (including reduction of air emissions, greenhouse gas control, soil remediation, waste prevention, waste reduction, waste recycling and energy/ emission-efficient waste to energy).
(c)            Renewable Energy (including production, transmission, appliances and products).
(d)            Sustainable Water and Wastewater Management (including sustainable infrastructure for clean and/or drinking water, wastewater treatment, sustainable urban drainage systems and river training and other forms of flooding mitigation).
(e)            Energy Efficiency / Green Technology (such as in new and refurbished buildings, energy storage, district heating, smart grids, appliances and products).
(f)             Circular Economy Adapted Products, Production Technologies, and Processes (such as the design and introduction of reusable, recyclable and refurbished materials, components, and products; circular tools and services).
(g)            Clean Transportation (such as electric, hybrid, public, rail, non-motorized, multi-modal transportation, infrastructure for clean energy vehicles and reduction of harmful emissions).
(h)            Green Buildings (that meet regional, national or internationally recognized standards or certifications for environmental performance or projects that reduce pollution, produce energy through renewable energy).
(i)              Environmentally sustainable management of living natural resources and land use (including environmentally sustainable agriculture; environmentally sustainable animal husbandry; climate smart farm inputs such as biological crop protection or drip-irrigation; environmentally sustainable).
(j)              Terrestrial and aquatic biodiversity conservation (including the protection of coastal, marine and watershed environments).

The QFC Sustainable Sukuk and Bonds Framework is a voluntary guideline that neither constitutes an offer to purchase or sell securities nor constitute specific advice of whatever form (tax, legal, environmental, accounting or regulatory) in respect of Green, Social or Sustainable Sukuk and Bonds or any other securities. Issuers opt to adopt and implement the framework voluntarily and independently.&nbsp;

The Qatar National Environment and Climate Change Strategy (QNE) was launched in 2021 in Qatar and outlines practical steps to achieve the environment pillar of the Quatar’s National Vision 2030.
The plan sets out Qatar’s commitment to tackle climate change by diversifying the economy, building capabilities, and optimising the use of natural resources. It establishes national climate targets to enhance climate resilience and identifies a number of environmental priorities:
(a)            greenhouse gas emissions;
(b)            air quality;
(c)            biodiversity;
(d)            water;
(e)            circular economy;
(f)             waste management; and
(g)            land use,
indicating that a governance system has been established to implement the strategy, to reach the specific goals by 2030, including reducing greenhouse gas emissions by 25% by the end of 2030, as well as the establishment of 30 air quality monitoring stations by 2023, and the increase in the number of reserves concerning biodiversity.
The QNE states that plans should be reviewed every 5 years.
The QNE outlines national projects which adopt tangible measures to reduce GHGs, including: (i) the largest carbon capture project in the MENA region; (ii) improving the efficiency of the hydrocarbon toxicity treatment; (iii) the Tarsheed program (National Program for Conservation and Energy Efficiency) which conserves electricity and water consumption, including initiatives by Kahramaa, the national water authority, to reduce the loss of desalinated water and to encourage water recycling and reuse; and iv) the building of the Al Kharsaah solar power station with a capacity of 800 MW.&nbsp;

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