Standard Chartered Bank and Siemens Energy Company announced the issuance of the green guarantee, the first of its kind in the State of Qatar, for a solar energy project.
This initiative represents a milestone in promoting sustainable and responsible banking practices in the country, and helps set a new standard for the sector.
The new guarantee has been issued for one of the solar energy projects currently under development, and it is expected to play a major role in the national plan for climate change approved by the government, which aims to reduce the carbon footprint of the state in parallel with increasing its independence in the field of energy. This guarantee is designed to support the project’s successful completion and long-term sustainability.
“Achieving climate neutrality requires strengthening partnerships, innovation and decarbonization solutions,” said Daniela Schwebner, Vice President of Finance at Siemens Energy in the Middle East. A pioneering solar energy project at the level of the State of Qatar.
For his part, Mohamed Salama, Executive Director and Regional Head of Commercial, Corporate and Institutional Banking for the Middle East and North Africa region at Standard Chartered Bank, said: “We are pleased to work in partnership with Siemens Energy in launching the new guarantee. This sustainability-related solution confirms our commitment to promoting sustainable financing and supporting renewable energy projects that contribute to a more sustainable future for all. Standard Chartered has been a major catalyst for the sustainability agenda in our key markets through pioneering initiatives that support the sustainability goals of leading companies in these markets, such as Siemens Energy.”
