Qatar is planning to launch its first green Fund as it aims to secure Environmental, Social, and Governance funding, reports say.
The ministry of finance, Bloomberg reports, is in contact with global banks in an attempt to accrue billions of dollars via green bonds.
The Gulf country is set to appoint several banks to develop a plan on how the money is going to be spent. A potential deal with state owned petroleum firm Qatar Energy could be sealed soon, Bloomberg notes. The tiny gas-rich country aims to cut emissions by 25 percent by 2030.
The Gulf country is investing an estimated $30 billion to increase production capacity by 50 percent in the upcoming six years.
Qatar mulls plans to launch first green Fund to secure ESG funding
