In line with its Environmental, Social, and Governance (ESG) initiatives and solid commitment to sustainability, Al Rayan Bank has proudly joined the Partnership for Carbon Accounting Financials (PCAF) as the first sharia-compliant bank in Qatar, a global collaboration of financial institutions dedicated to harmonized assessments and disclosures of greenhouse gas (GHG) emissions associated with its lending and investment portfolio.

Mr. Fahad Bin Abdulla Al Khalifa, Group Chief Executive Officer of Al Rayan Bank, commented on this milestone: "Joining PCAF is a testament to our commitment to advancing sustainability and transparency. By aligning with global standards, Al Rayan Bank is contributing to the fight against climate change and also supporting Qatar's vision for a sustainable future. This step strengthens our ability to integrate climate considerations into our financing strategies and set meaningful targets that benefit both our stakeholders and the environment."

By becoming a PCAF signatory, Al Rayan Bank underscores its dedication to driving environmental responsibility and aligning with international best practices to mitigate the impacts of climate change. This significant step enhances the Bank’s ability to transparently measure and disclose greenhouse gases emissions of all asset classes within their lending and investments portfolios. This will contribute to informed decision-making based on consistent and comparable data, providing the Bank’s key stakeholders with transparent and reliable metrics.

This partnership aligns with Qatar’s ratification of the Paris Agreement and its Nationally Determined Contributions, further demonstrating Al Rayan Bank’s role in supporting the nation’s sustainability agenda. As a champion of ESG initiatives, Al Rayan Bank continues to lead by example, integrating sustainability into its operations and financing practices. The Bank remains committed to empowering positive environmental impact and fostering a culture of transparency and accountability within the financial sector.

The Partnership for Carbon Accounting Financials (PCAF) is a rapidly expanding global initiative, with more than 500 financial institutions from 6 continents, spanning North America, Latin America, Europe, Africa, and Asia-Pacific. PCAF supports its members by setting standards, offering technical guidance, and providing access to an extensive emission-factor database, enabling consistent and reliable carbon accounting practices.