Doha: Senior professionals from the oil and gas, real estate, construction and banking industry yesterday discussed the system of megaforces important for business leaders and opportunities for future proof economic growth in Qatar.
Hosted by the global audit, tax and advisory firm, KPMG, the seminar included a presentation from Yvo De Boer, KPMG’s Special Global Advisor, Climate Change and Sustainability.
“Increasing strain on infrastructure and natural systems is likely as patterns of economic growth and wealth change,” Yvo De Boer, said during the seminar.
Physical assets and supply chains will be affected by the unpredictable results of a changing climate, and businesses can expect an ever more complex web of sustainability legislation and fiscal instruments, said the expert.
“Climate change in terms of expected rise in temperature, reliance on imported food, energy and fuel, expensive desalinization of water and increasing population are some of the sustainability megaforces in Qatar and the GCC region,” De Boer added.
“Sustainability megaforces will force changes in the way Qatar produces and consumes,” he said.
Meanwhile, KPMG’s Qatar-based partner and Head of Oil and Gas, Middle East and South Asia Region, Gopal Balasubramaniam, said that with the UN Climate change conference (COP 18/CMP8) scheduled to be held in Doha in Nov-December, the firm felt a need to have a session before the event to discuss with key stake holders some of the global trends and initiatives in the space of Climate change and sustainability.
“Although the industry sectors have invested considerably in sustainability in recent years as indicated in the Qatar national master plan, a number of steps still need to be taken for Qatar to become a leader in sustainable technology within the region and globally,” Balasubramaniam said.
He added that KPMG would continue to host seminars on climate change post COP 18, in order to create awareness in the country.
The seminar concluded with a briefing from Mahesh Patel, Qatar Petroleum’s Directorate for HSE regulation and enforcement, on initiatives taken by Qatar on Sustainability Development reporting and, the success story so far in the energy sector.