Qatar Sustainable Development and Economic Diversification Conference Begins

Doha: Experts and researchers from Qatari institutions and international organizations emphasized the importance of adopting sustainable development practices to improve economic well-being and living standards globally. This came during their discussions at the Qatar sustainable development and economic diversification conference which opened today, addressing the reality of sustainable development in Qatar through Vision 2030, the opportunities for economic diversification, the role of the knowledge economy, and governance in achieving sustainable development. The speakers at the conference, organized by the Qatar Association of Certified Public Accountants (QCPA) in partnership with the International Federation of Accountants (IFAC) and the Association of Chartered Certified Accountants (ACCA), highlighted the significance of sustainable development and economic diversification in addressing economic crises, as well as sustainability standards and disclosures. During the opening of the conference, QCPA Chairman Dr. Hashim Al Sayed emphasized that sustainable development is about balancing the needs of the present with the ability to meet future generations' needs. He pointed out that in 2015, all United Nations member states adopted the Sustainable Development Goals (SDGs), also known as global goals, which serve as a universal call to action to end poverty, protect the planet, and ensure peace and prosperity for all by 2030. Dr. Al Sayed explained that the SDGs are interconnected, meaning progress in one area affects outcomes in others. He emphasized that sustainable development must balance social, economic, and environmental sustainability. He discussed the Qatari economy, saying that it is considered one of the strongest in the region and one of the most promising globally. He noted that Qatar has cemented its advanced position on the global economic map through its leaderships strategic approach to continue achieving the Qatar National Vision 2030, which aims to establish a diversified, knowledge-bas ed economy. He said that the Visions four pillars human, social, economic, and environmental form a comprehensive strategy to transform Qatar into a developed country capable of achieving sustainable development while preserving the environment by 2030. Recognizing the importance of balancing its economic policies aimed at diversifying the national economy and enhancing its natural resources, Al Sayed mentioned that Qatar's non-oil revenues are expected to reach QR43 billion in 2024, a projected 2.4 percent increase compared to the 2023 fiscal year. He also noted that the State of Qatar is committed to environmental preservation by diversifying energy sources, investing in solar energy, and expanding natural solutions. He also said that Qatar has also heavily invested in information and communication technology to promote sustainability and accelerate the implementation of the SDGs. Al Sayed highlighted the conference's role in raising awareness and educating stakeholders about sustainable development. He noted that the conference addresses the challenges and opportunities for achieving SDGs and economic diversification by promoting knowledge exchange and showcasing best practices, with the aim of raising awareness of the importance of sustainable development and environmentally friendly practices while developing innovative, sustainable solutions to global challenges like climate change and resource scarcity. IFAC President Asmaa Resmouki discussed the federation's work over the past few months in preparing a framework to assist professional accounting organizations in developing local sustainability plans. She outlined the four-part sustainability journey map for professional accounting organizations, and noted that this tool doesn't provide specific instructions but offers prompts and questions to help organizations think about issues most relevant to their professional practice. The four parts of the framework include adopting sustainability, building expertise through advocacy and thought leadership, foc using on skills and competencies, and collaboration to share new ideas and best practices. Source: Qatar News Agency