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Sustainability reporting mandatory for firms

Qatar has made it mandatory for the industries to undertake sustainability reporting, whose aims will align with the country’s national vision.
“The sustainable development industry reporting (SDIR) has matured. Now it has been made mandatory,” Energy Minister HE Dr Mohamed bin Saleh al-Sada told reporters on the sidelines of a ceremony to award 33 companies that undertook SDIR in 2012.
Expecting 44 companies to participate in SDIR this year; al-Sada, who is also the chairman and managing director of Qatar Petroleum (QP), said he would expect all companies to undertake the initiative as it would measure and improve their aims and objectives, which will then finally align with the 2030 national vision.
Since SDIR began in 2010 with 17 companies, he said, the programme has improved and the level of participation from the industry has increased “substantially”.
“Through sustainability reporting, energy and industry stakeholders can demonstrate their commitment to the long-term growth and development of the sector while ensuring the alignment of their operations with the Qatar National Vision 2030 and the National Development Strategy 2011-2016,” he said. 
Outlining the advantages of going for SDIR, al-Sada said it will be beneficial for the companies as the reporting is transparent and that individual entities can learn from each other’s experience.
QP’s HSE Regulations and Enforcement Directorate developed the assessment system and the SDIR award scheme based on a 15-point criteria.
There were seven winners of the ‘Award for Excellence’ in sustainability reporting. In the large scale organisation category (employing 500 or more), RasGas was the winner, while the two runners up were Dolphin Energy and Qatar Steel.
In the medium-scale organisation category (employing less than 500), Mesaieed Power Company was the winner; followed by Qatar Fuel Additives Company and Qatar Vinyl Company.
QP received a special recognition for its outstanding leadership and commitment to sustainable development and corporate social responsibility.
Apart from these seven winners, 26 other companies received certificates of appreciation for their participation in the SDIR.
“The SDIR strives to deliver continuous improvement in reporting by all companies involved. All companies continue to advance from the previous years as evidenced by the value of their company reports and the sector-wide sustainability report,” Saif al-Naimi, Director, QP HSE Regulations and Enforcement Directorate, said.

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