Qatar’s landscape has been shifting into a more environmentally conscious direction since the establishment of Qatar National Vision 2030. Especially in the business sector, consumption of sustainable products and services is more in demand than ever before. Here are a few reasons why entrepreneurs should consider establishing sustainability-focused businesses.
With green banking becoming more structured in Qatar, there’s a wider range for financial support for sustainable startups and SMEs. These initiatives come as part of the country’s strategy to keep up with the requirements and demands of today’s globally changing business landscape and sustainability-based economy.
Qatar Development Bank launched a “Green Financing” program for SMEs that implements sustainable infrastructures and business operations, and provides sustainable products or services. Qatar National Bank continuously improves on their sustainability framework, which takes advantage of new business opportunities that emerge from the move towards a more environmentally-friendly economy. And according to Qatar Financial Centre, sustainable financing in Qatar in general would offer up to USD 75 billion in investment opportunities this year, aligning with sustainability principles and a growing need for sustainable financing. This comes alongside a lot of other financial frameworks like plans, rates, and so on from these entities.
Governmental reforms and efforts are key to inciting change within the community. Many local governmental entities are contributing to this change of mindset, to drive changes in consumer consumption, which helps sustainable businesses thrive.
The Ministry of Environment and Climate Change has collaborated with many other entities including the Municipality and Ministry of Education to spread awareness about sustainability within the community. With various events, including scientific forums held by the MoECC, amongst other notable endeavors, to promote awareness about environmental preservation and climate change. Greater awareness means a wider audience for you as an entrepreneur to target your business.
More research is being conducted in Qatar on sustainability and its interdependence with other business and social sectors. The latest is the book titled “Sustainable Qatar”, which discusses the sustainability efforts and achievements made by governmental and non-governmental entities in Qatar, and their importance today. This book drew from the knowledge and expertise of many academics and researchers, and touches on the intersection of sustainability with many different sectors.
More emphasis has been placed on the value of educating younger generations about sustainability, with it being included in curriculums, infrastructures, and initiatives such as the Ministry of Municipality’s ‘Zero Waste’ competition for school students. These, alongside educational school trips for students to learn about different aspects of sustainability and the environment, are part of the Ministry of Education and Ministry of Municipality’s endeavors towards academic inclusion of sustainability. More awareness creates a demand for more sustainably–driven providers in the business sector to meet people’s needs.
A collection of articles, trends and thoughts from our consultants at Curia. We strive to provide relevant content that will equip any business owner with information required to improve their business.