Qatar Free Zones Authority secures win at ESGBusiness Awards 2024
Awarded for its commitment to sustainability and ESG leadership, QFZ sets a new benchmark for excellence in Qatar.
Qatar Free Zones Authority (QFZ) was honoured with the Initiative Award - Qatar for Circular Supply Chain at the ESGBusiness Awards 2024. This award highlights QFZ’s leadership in advancing environmental, social, and governance (ESG) through its ESG platform 2024, which enables comprehensive data collection and disclosure amongst its investors.
In addition to the ESG platform, QFZ has launched the Circular Economy Platform for material and waste trading, as well as the Sustainable Supply Chain Standards. These initiatives further enhance QFZ’s operations and solidify its reputation as a model for ESG leadership in Qatar.
Transforming sustainability in Qatar
QFZ embarked on its journey towards ESG leadership with the adoption of a comprehensive ESG platform in 2024, aligning with global standards such as the International Sustainability Standards Board (ISSB) and the European Sustainability Reporting Standards (ESRS). This platform facilitates real-time data collection, monitoring, and disclosure across all QFZ investors, positioning QFZ as one of the first entities in Qatar to commit to such advanced and rigorous ESG reporting.
The ESG platform encompasses various operational facets, including environmental performance, social impact, and governance metrics, allowing QFZ to monitor its sustainability performance and set ambitious targets for reducing carbon emissions, enhancing social responsibility, and strengthening governance practices.
Amongst QFZ’s key initiatives is the Circular Economy Platform for Material and Waste Trading, designed to minimise waste and promote recycling by enabling businesses to exchange, donate, or sell surplus materials. This initiative will divert 40% of materials from landfills back into the production cycle, fostering a culture of resource efficiency and exemplifying QFZ’s leadership in circular economy practices.
Additionally, QFZ has implemented Sustainable Supply Chain Standards to ensure that all supply chain activities adhere to ethical and sustainable practices. These standards prioritise environmental stewardship and social responsibility, enhancing the overall sustainability of supply chains and contributing to global responsible business efforts.
QFZ also champions transparency through detailed ESG disclosure and reporting that aligns with international best practices, setting a benchmark for the region and encouraging other entities in Qatar to adopt sustainable practices.
Establishing global benchmarks effectively
Throughout its ESG journey, QFZ has been putting significant efforts to engage stakeholders and integrate technology into its operations, by implementing a continuous improvement framework and advanced data technologies, whilst maintaining regular consultations with stakeholders to ensure alignment with community and investor expectations.
QFZ’s commitment to innovation, particularly through the development of digital ESG platforms and strategic partnerships, has significantly improved its ESG performance and established a global benchmark for other free zones and industrial areas.
The ESGBusiness Awards recognises companies that lead the way towards a sustainable future. The awards honour businesses that demonstrate outstanding commitment and achievement in environmental, social and governance practices, celebrating those who set the standard for responsible and impactful business.
The ESGBusiness Awards is presented by ESGBusiness. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's outstanding commitment and achievement in environmental, social, and governance (ESG) practices, please contact Julie Anne Nuñez at [email protected].
