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Wednesday, October 20, 2021

Doha Bank won The Golden Peacock Award for CSR


The 11th International Conference on Corporate Social Responsibility & Presentation of Golden Peacock Awards was organized by Institute of Directors (IOD) under the theme “Embedding Corporate Social responsibility (CSR) in Corporate Strategy for Responsible Growth” on 20th and 21st January 2017 at Hotel Lalit Ashok, Bengaluru, India. Doha Bank won the “Golden Peacock Award for Corporate Social Responsibility in the Global Category” at this event.

Dr. R. Seetharaman, Group CEO of Doha Bank gave the keynote address on 20th January 2017. He gave insight on CSR and said “Corporate Social Responsibility (CSR) contributes to sustainable development in the areas such as Economic Growth, Social Development and Environmental consideration. The corporate competitiveness needs to be integrated with social development. There is an inevitable link between business and society. A healthy business depends on a healthy community to create demand for its products and provide a supportive business environment. CSR activities have the potential to create several distinct forms of value for customers. It is the customer perception of this value that mediates the relationship between CSR activities and subsequent financial performance.”

Dr. R. Seetharaman highlighted how Green Banking can contribute to CSR and sustainable development.

CSR Award

Dr. Seetharaman receiving the Award being presented by His Holiness Sri Sri Ravi Shankar, Founder, The Art of Living. Also seen on the dais, (From Left to Right) Lt. Gen. J. S. Ahluwalia, PVSM (Retd), President, Institute Of Directors, India, Mrs. Rajashree Birla, Chairperson, Aditya Birla Centre for Community Initiatives and Rural Development, Aditya Birla Group

He said “Banks as responsible corporate citizens adopt Green Banking in their strategy to promote Corporate Social responsibility (CSR) and Sustainable development. Green Banking will blend customers’ financial interests with the interests of the environment. Green Banking will also enable environmental sensibility to pay off for clients and for the planet. Green Banking promotes environmental-friendly practices and reducing carbon footprint from the banking activities. Green Banking is an innovative solution for sustainable development. ”

Dr. R. Seetharaman gave insight on CSR initiatives of Doha Bank. He said “Paperless Banking, free Access to do all the Banking transactions through Internet Banking, SMS Banking, Phone Banking, ATM Banking as well as online channels such as Doha Souq, E-Remittances and Online Bill Payments. Social Responsibility through positive contributions to the environment by joining Tree Planting, Beach Clean-up activities, etc. Branches and Department offices to be energy-efficient through the introduction of environment-friendly materials. Conserve water and electricity consumption. Doha Bank has also provided term loan for Emirates Central Cooling Systems, which provides Efficient District Cooling Services (DCS) to developments in Dubai and the surrounding region. Doha Bank Signs Project Finance deal with Leighton Contracting for Water Security Mega Reservoirs Project. ”

Dr. R. Seetharaman highlighted how Banks should greater environmental responsibility. He said “Banks should align lending activities with those factors which impact the environment. They should develop environmental and Social Risk Management (ESRM) – Expand the scope of risk management to include Social and environment risk also. Develop policies and procedures and integrate them in proposal evaluation. They should encourage financing programs for eco-friendly programs such as home owners to purchase and install solar power systems, forestry projects etc. “

Dr. R. Seetharaman gave insight on SME sector and its role in sustainable development. He said “SME segment is one of the fastest growing segments and is rapidly gaining dominance in the overall macro-economic environment as well as for the banking sector. SME sector can also contribute to eco- friendly projects and thereby encourage green banking. SMEs innovate in processes, products, and services and can sometimes innovate better than large firms.SMEs are critical for sustainable development of economies.”

Dr. R. Seetharaman highlighted the link between CSR and Corporate Governance. He said “Green Initiative can also be brought as part of Corporate Governance by going paperless and sending documents to shareholders through electronic mode. Improved oversight over board compositions, improved disclosure and transparency, and the effective use of audit functions are today’s priorities for regulators. Institutions cannot afford to ignore the long-term, and focus only on the short term, as the long term is achievable only when it is sustainable.”

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