Materiality Assessment Survey
Welcome to QIB’s Materiality Assessment, where we seek your inputs towards defining our business strategy and feeding into our risk management process. By participating in our ongoing survey, you can support us navigate the complex landscape of Environmental, Social, and Governance (ESG) factors, and thus prioritize sustainability and ethical practices.
The exercise involves assessing both internal business impacts and external societal impacts. Help us assess the key issues concerning our business performance while assessing the impact of our endeavors. Your efforts will be duly recognized, as the results of the survey will be signed off by the QIB senior management team.
Key Definitions
- CO2 emissions
Refers to the release of carbon dioxide gas into the atmosphere owing to human activities including the use of electricity, use of vehicles, heating/cooling our facilities, use of manufactured goods, business travel etc. The concern with high levels of CO2 emissions globally is that it has been causing global temperatures to rise. This increase in temperature can lead to various environmental problems, including melting ice caps, rising sea levels, more frequent and severe weather events, and disruptions to ecosystems.
- Climate risks
Refers to the way QIB is exposed to changing climate such as frequent extreme weather events. It also refers to financial loss from environmental policies and regulations, due to climate change.
- Community support
Refers to the provision of support and capital to local causes or groups. It also entails empowerment and uplifting of local economy and community through volunteering, social programs and local initiatives. It can include any kind of financial and non-financial support that contributes to socio-economic development and betterment.
- Financial inclusion, accessibility and affordability of products and services
Refers to the ability of stakeholders to obtain financial services and products. This may include physical access to ATMs and branches in certain areas, accessibility due to disability, access due to social reasons. It also refers to the way QIB ensures that products and services are affordable and stakeholders have the financial ability to consume them. Examples include profit rates and fees.
- Financial literacy initiatives
Refers to the interventions undertaken by QIB to improve the knowledge and skills of stakeholders on how to manage their money and take important financial decisions.
- Localization
Refers to the process of hiring nationals and supporting national human resources and community goals.
- Diversity, inclusion and equal opportunity
Refers to the implementation of policies and processes that ensure equal access, opportunity to all, as well as providing a safe and welcoming work environment to everyone.
- Responsible supply chain and procurement
Refers to all the initiatives adopted at QIB to ensure social and environmental considerations (such as working conditions, commitment to health and safety, eco-friendly business practices, etc.) are taken into account when managing suppliers and partner relationships, across the value chain of the Bank..
- Responsible marketing
Refers to all practices applied by QIB to ensure fair and transparent marketing communications, provision of accessible and adequate information about the products and services, important details, in a way that is simple and understandable. Examples may include the use of acronyms, information in different languages, content, and small letters practices.
- Governance structure
Refers to the governing systems that QIB employs to ensure accountability and make the organization resilient and successful. It further includes robust modes of governance that promote operational excellence and sound leadership. Examples comprise of the formulation of committees, terms of reference for committees, policies and procedures by which QIB is directed and controlled.
- Financial and economic performance
Refers to the ways QIB manages the financial/economic outcome of its business. This refers to all KPIs used to measure performance, goal and target setting, sustainability criteria integration in decision making.
- Compliance and risk management
Refers to the overall approach QIB follows regarding risk management and risk mitigation (financial risks, operational risks, social and environmental risks, information security risks , reputational risks, business continuity etc.). It also includes compliance with national and international regulations and mandates.
- Sustainable investments and financing
Refers to the process of taking environmental, social and governance criteria into account when making investment/finance decisions and introducing new products/services.