Experts participating in a virtual conference.
Doha: Dr. R Seetharaman, CEO of Doha Bank gave insight for the youth and talked about sustainable development while participating in a global conference.
The Third International conference and POP festival for youth-led climate action 2021 by the World Sustainable Development Forum began virtually on June 5. In this conference which will conclude on June 10, Dr. R. Seetharaman participated in the Leadership Conversation as a tribute to Chief Mentor of POP, late Dr. R K Pachauri on June 6.
He added that the UN Sustainable development Goals are vital and should be read by the Youth. Individuals should think about controlling desires and focusing on goals. The major carbon emissions came from China, India and USA. Building Green Economies are the solution to Global Sustainability. “We need Global co-operations to enhance to promote sustainable development. Carbon emission is a major issue. Banks as socially responsible citizens have a role to play in protecting the environment and contribute to sustainable development,” said Dr. Seetharaman.
Bank should earmark a minimum of 10 percent of Tier 1 capital subject to a cap of 10 percent of risk-weighted capital towards Green banking or Clean development mechanism (CDM) or any Sustainable development projects taking into consideration the carbon emissions prevailing in the economy in which the bank operates. The Greenhouse gas (GHG) emissions need to be estimated for major economic sectors in areas of operation to determine the carbon footprint.
Based on the carbon footprint in various economic sectors various initiatives be proposed to promote Green economies such as Lending for Green projects, CDM scheme and Paperless banking.
Doha Bank has brought many initiatives on Green Banking. Doha Bank was involved in Project financing for supporting the construction of Qatar General Electricity & Water Corporation’s Water Security Mega Reservoirs Project. The policy framework on sustainable development goals will be much more global in the world.
“We have to reduce income equality, promote human values and thereby create a better world. Corporates are adopting Environmental, Social and Governance (ESG) frameworks that disclose the corporate social responsibility activities of the Bank,” he said.
CSR also enables organization to balance their objectives, goals and risk management by factoring the society and environmental dimension. The ESG framework provides assistance on this. Life is beautiful and every day is inspiring and we should enrich society better.
“If you have the drive and determination you will succeed. We need to have continuous education. Character, Capacity and collateral are the key lessons from Banking. Success does not mean the absence of failure,” said Dr. Seetharaman.
“As long as you are able to adapt to changes then you can steer forward. The pandemic COVID 19 has confirmed the disastrous consequences of ecosystem loss. Health crisis of COVID 19 has compelled many to rethink our relationship with natural ecosystem and changing biodiversity,” he added.
He said that interdependence between humanity and biodiversity is very profound. Economics and Banking have got redefined after COVID-19. Governance is also important. Leadership means contributing to multiple stakeholders including society on a sustainable basis.
“To contribute to society we should embark on the philosophy of sustainable development. If we have a concerted focus on long term then we will aim to achieve the solution. Today we are celebrating the legacy of Dr. R K Pachauri and that has inspired me to follow sustainable development in my own Bank,” he added.
“I was able to showcase the challenges from Global warming and Climate Change across the Globe through Doha Bank. We cannot help ourselves without helping others. Elimination of extreme poverty, food security and climate change are interchangeable. Gender equality should also be given thrust,” he added.
