Qatar Free Zones Authority (QFZA) and Doha Venture Capital (DVC) have signed an agreement with Aspiration to expand access to sustainability services in the region.
The partnership is in line with QFZA’s efforts to develop the world’s first net zero free zones. As part of the agreement, Aspiration, a US-based global leader in sustainability as a service solution for consumers, companies, and governments, will set up operations in Qatar Free Zones to deliver sustainability services, carbon neutrality solutions, and green financial solutions to customers in the Free Zones, Qatar, and across the Middle East and North Africa.
The agreement was signed during a ceremony at Ras Bufontas Free Zone in the presence of Minister of State and Chairman of QFZA Ahmad Al-Sayed, as well as DVC board members and QFZA senior management. It was signed by QFZA CEO Lim Meng Hui, DVC CEO Mohammed Al Abdulla, and Aspiration Co-Founder Joe Sanberg. The signing ceremony was part of a week-long visit to Qatar during which Aspiration representatives will meet with leading Qatari government ministries and private sector organizations to discuss opportunities to expand green financial services and climate change-fighting solutions in the region.
The agreement is part of a broader collaboration between Aspiration and Qatar Free Zones. It is reflective of QFZAs sustainability strategy, which is aligned with the goals of Qatars environment and climate change strategy. The agreement will enable Aspiration to evaluate carbon footprints and manage carbon neutrality programs as a preferred sustainability services and carbon offsets provider to Qatar Free Zones. Aspiration will also work with companies and entities operating in the Zones to develop their sustainability goals and create bespoke strategies to achieve those goals.
The partnership will also lead to the establishment of a Center of Excellence in the Zones before the end of 2022 to provide internationally recognized green certifications. The Center will offer conventional as well as Sharia-compliant green financial services and products with banking partners in Qatar and across the region.
Minister of State and Chairman of QFZA Ahmad Al-Sayed, said, “Were delighted to enter into this agreement with Aspiration, a leader in bringing sustainability solutions to people and businesses. This agreement is a testament to our enduring focus on and commitment to sustainability and innovation, in line with the goals of Qatars ambitious environment and climate change strategy. Qatar Free Zones are a natural base for companies with the skills and innovative mindset to help build a greener, better future, and we look forward to welcoming Aspiration to Qatar.”
“This partnership is in line with DVCs strategy to support innovative companies tackling critical problems, while helping them take advantage of opportunities in Qatar and across the region,” added DVC CEO Mohammed Al Abdulla.
“Aspiration is in the business of fighting the climate crisis and well go wherever it takes to fulfill that mission,” said Andrei Cherny, CEO of Aspiration. “We are thrilled to work with Qatar Free Zones in strengthening sustainability projects across the region as part of our commitment to helping individuals and businesses around the world to work sustainably and meet the challenge of fighting climate change.”
“The planet is in crisis; to save our earth from becoming uninhabitable, we need every nation on earth to do everything in its power to fight climate change,” said Joe Sanberg, Co-Founder of Aspiration. “Qatar Free Zones Authority is setting a new standard in its commitment to sustainability by investing in the green infrastructure and carbon neutrality programs that will help us solve this global emergency.”
The Charge dAffaires at the US Embassy in Qatar Natalie Baker, said, “I congratulate Aspiration and the Qatar Free Zones Authority on the partnership they are launching, which supports our shared bilateral climate change goals. Environmental, social, and governance (ESG) investing is aligned with both U.S. environmental goals and Qatars Climate Change Strategy, and we look forward to more opportunities to pursue these interests together.”