Climate Change can be neutralized through Carbon Trading
Mr. Seetharaman, while addressing the business community over the Global Warming and Climate Change conference in Turkey he mentioned “a sense of urgency to Globalizing, Co2 emission trading is not an option. Industries and Institutions need to take initiatives to foster renewable energy, factor environment in trade negotiations, liberalize environmental goods, and sustainable trade in bio fuels & multi lateral environment agreement factored into Doha development role.
Doha bank has always been on forefront in promoting awareness of socially relevant issues and supporting social causes. Amongst many initiatives towards this objective, It has been conducting a series of awareness seminars in the region on one of the most critical issues facing the earth – Global Warming. Doha Bank believes that knowledge dissemination across the globe is extremely crucial to proper understanding and addressing of the relevant issues. The latest seminar on the subject was conducted in Turkey at the The Ritz-Carlton Hotel. The seminar was attended by the large audience and eminent guests which included Dr. Filiz Demirayak, General Manager WWF Turkey and Mr. Celal Ergun, TEMA (Turkish foundation for combating soil erosion for reforestation and the protection of natural habits). They also underlined during their presentations the severe effects caused by the Global Warming on the climate .
Mr. Nezih Akalan, Chief representative of Doha bank, Turkey welcomed the gathering. Mr Seetharaman, Deputy chief Executive officer in his address, elaborated on various aspects of Global warming, the cause, dangers and how we can responsibly tackle it. He explained how rapid urbanization, industrialization, never ending need for energy, pollution and population growth have been creating severe imbalances in our ecological system. He gave several illustrations of catastrophies arising due to this phenomenon and explained, “The world is getting warmer significantly, raising sea levels, melting of sea ice and glaciers worldwide, severe weather changes resulting in increasing natural calamities like drought, floods, storm and heat waves are all resultant of global warming. We must do our bit to conserve the ecological balances globally.”
He elaborated how the combination of ecologic balance and economics has opened opportunities to address Global warming by tapping the power of the global marketplace. The innovative “eco-nomic” business model has attracted a great deal of support at the highest levels in light of the continuous migration of consumers towards eco-and-health conscious products. Moreover, geopolitical, environmental and socioeconomic realities have made sustainable industrial production a permanent global issue.
He explained “The need to develop environmentally and economically sustainable businesses is becoming stronger, so that the globe remains a healthy place to live. We need to strive towards investing in approved and UN-compliant clean energy carbon credit programs. Investments made now in clean energy such as biofuels and bio-diesel projects represent the future and will be a hedge against possible oil-deflation prices as well as profit-generating on their own account.”
Reminding every individual of their responsibilities towards it, he said “We must reduce energy consumption with initiatives such as car pooling, putting unnecessary lights and TV off when not needed. We must totally eliminate usage of non bio-degradable materials, encourage recycling and buy environment friendly goods. We must plant more trees. These are small steps which will make big difference.”
Explaining the steps taken by Doha bank, Mr. Seetharaman said, “Doha Bank has taken various proactive measures in addressing Global warming. It has conducted a series a seminars in creating awareness across the region on Global warming and its ramifications. It is propogating energy saving as a corporate habit. Doha bank encourages ideas from staff on energy savings and suitably rewards them. Doha Bank is taking a leading position in the Middle East as it is the first bank in the region to propagate a “green” culture. Doha Bank is committed to be a carbon neutral entity.”
Doha Bank is a leading private bank based in Qatar having a dominant position in Qatar banking sector for more than 28 years. One of the fastest growing banks in the region, Doha bank has achieved more than three fold growth in Shareholder Equity and six fold increase in annual profit in a span of four years. Doha bank has been consistently maintaining the best performance ratios in the region, with Return on Average Assets of 4.03, Return of Equity of 26.9 % and Cost Income ratio of 28% during financial year 2006. The bank has earned pre-tax profit of QR 462.6 Millions for the first six months period in 2007, with return of Equity of 32%. The share capital has grown organically to QR 1.248 Billion. As of June 2007, Shareholder’s equity stands at QR 3.14 Billions.
At present the domestic network of the Bank consists of 31 Branches including 4 Islamic branches, 10 Electronic Branches and 5 Pay Offices in addition to the 3 Mobile Banking Unit with a wide ATM network numbering 100 in the State of Qatar. In addition, DB has two overseas branches in New York, US and Dubai, U.A.E and 4 Representative Offices covering Singapore, Tokyo, Shanghai (China) and Istanbul (Turkey).
Doha bank provides comprehensive range of banking services for different customer segments, unmatched in Qatar. In Retail Banking segment, it has offerings for all conceivable personal needs of individuals requiring financing support, savings and investment options. The Bancassurance offers comprehensive products for individuals and groups, Islamic takaful, and covers for all types of commercial requirement of corporate entities. Doha Islamic, the Islamic banking unit of Doha Bank offers a comprehensive range of products addressing diverse needs of individual and corporate.
Doha Bank has always been a trendsetter in deploying consumer centric technology and new delivery channels such as SMS Banking, Bank-on-Wheel, Bilingual website, state of art ATMs, Heavy duty cash deposit machines, on-line internet banking, e-bank. It has introduced Dbank product suites, consisting of a variety of electronic banking services, operating at 24X7 basis.
In Corporate banking, in addition to traditional services, Doha Bank offers many financial specialties such as corporate finance and project finance advisory Services such as mergers and acquisitions, IPOs, valuations, financial restructuring, IPO arrangement etc. Doha Bank has a strong Treasury and Investment division offering various forex and investment services. An area of high focus is the high net worth segment and the bank is continually providing new services to cater to this segment.
As BS7799 compliant institution with ISO 9001:2000 certified processing centers, Doha Bank testifies its commitment to follow international best practices and standards.
Doha bank has been applauded by respected financial sector analysts for its pioneering and leadership role in taking Banking experience in Qatar to new heights. It has been consistently bagging various awards and accolades since 2003. Doha Bank has been adjudged as “Bank of the year for Qatar for 2006”, by The Banker, Financial Times, London and as 'Best Commercial Bank' in the Middle East for the year 2007 by the 'The Banker Middle East' Magazine.
Doha Bank is the best performing bank in the region, offering a comprehensive range of services in all banking segments. It has been adjudged as “Bank of the year for Qatar for 2006”, by The Banker, Financial Times, London and 'Best Commercial Bank' in the Middle East for the year 2007 by the 'The Banker Middle East' Magazine.