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Sustainability Framework and Material Topics

Sustainability Framework and Material Topics form the basis of QNB Finansbank’s sustainability related practices

At QNB Finansbank, we define sustainability as the delivery of long-term value in financial, environmental, social and ethical terms for the benefit of our customers, shareholders, employees and community, in alignment with QNB Group’s sustainability strategy.

Our sustainability framework consists of three pillars: Sustainable Finance, Sustainable Operations and Beyond Banking. All three pillars support QNB Finansbank’s goal of Sustainable Financial Performance, through reducing risks, opening up new business opportunities and strengthening our brand. Under each pillar, we have identified nine topics most material to our business (Material Topics) and a series of actions plans to improve our performance.

Sustainable Finance

Sustainable Finance is the integration of ESG (environmental, social and governance) criteria into QNB Finansbank’s financing activities to deliver value with purpose.  Our ambition is to support customers to manage their environmental and social risks, lend to businesses that contribute towards sustainable development, improve access to finance for SMEs and underserved groups, and provide a responsible customer service. Delivering sustainable finance is the most significant way in which QNB Finansbank can support national and global sustainable development initiatives. Moreover, it enables us to reduce reputational risks in our portfolio and maximize business opportunities emerging from the transition to a greener, more inclusive economy. 

QNB Finansbank’s material topics identified within “Sustainable Finance” are:

  • Digital Transformation and Innovation
  • Responsible Customer Communication and Marketing 
  • Sustainable Investment, Lending, Products and Services
  • Financial Inclusion
  • Supporting Small and Medium Sized Enterprises (SME’s) and Entrepreneurship

Sustainable Operations

Sustainable Operations is the integration of ESG criteria into our business operations and across our supply chain to ensure we operate ethically and efficiently. Our ambition is further strengthen corporate governance and risk management practices, promote equality throughout our workforce and reduce carbon emissions generated by our operations. This approach keeps us compliant with increasing ESG related demands while helping QNB Finansbank to be an ‘employer of choice’. 

QNB Finansbank’s material topics identified within “Sustainable Operations” are:

  • Talent Attraction, Development and Retention
  • Environmental Impacts of Operations
  • Responsible Procurement and Supply Chain

Beyond Banking

Beyond Banking refers to QNB Finansbank’s Corporate Social Responsibility (CSR) activities. Our ambition is to make a positive contribution towards wider society through our CSR activities. 

QNB Finansbank’s material topic identified within “Beyond Banking” is:

  • Social and Community Investment

Nine material topics are ranked from 1 to 9 (1 considered as most material) based on their influence on stakeholders and materiality from QNB Finansbank’s perspective.

Material Topics

1.    Talent Attraction, Development and Retention
2.    Responsible Customer Communication and Marketing 
3.    Supporting SMEs and Entrepreneurship
4.    Sustainable Investment, Lending, Products and Services 
5.    Digital Transformation and Innovation
6.    Social and Community Investment
7.    Financial Inclusion
8.    Environmental Impacts of Operations
9.    Responsible Procurement and Supply Chain

In addition to nine material topics, five topics, namely Corporate Governance, Compliance and Risk Management, Sustainable Financial Performance, Customer Experience and Satisfaction, Customer Privacy and Data Security, and Diversity and Inclusion are deemed as “Fundamentals of Sustainability”, since these topics cannot be materialized nor prioritized as they are equally important and should be achieved under any circumstances in terms of reaching sustainability goals.

Fundamentals (no particular order)

  • Corporate Governance, Compliance and Risk Management    
  • Sustainable Financial Performance    
  • Customer Experience and Satisfaction    
  • Customer Privacy  and Data Security 
  • Diversity and Inclusion