6. The governance framework for the SWF should be sound and establish a clear and effective division of roles and responsibilities in order to facilitate accountability and operational independence in the management of the SWF to pursue its objectives.
QIA’s governance framework guides and coordinates the distribution of rights and responsibilities to the appropriate departments and units, determines the rules and procedures to make governance and investment decisions and ensures an integrated internal structure through which the objectives of QIA are implemented.
The respective roles of the different layers of QIA governance framework are as follows:
- The Supreme Council: approves QIA’s strategic objectives and its investment strategy;
- QIA Board of Directors: approves governance policies, provides strategic guidance and monitors activities of executive management;
- The CEO and executive management team: manage QIA’s day-to-day operations under the supervision of the Board.
The governing body of QIA is its Board of Directors, appointed by a decision of the Amir, which acts in the best interests of QIA and has a clear mandate and adequate authority and competency to carry out its functions.
The current Board is composed of eight members, having relevant experience, as follows:
- H.E. Sheikh / Mohammed Bin Abdulrahman Al Thani (Chairman)
- H.E. Sheikh / Mohamed Bin Hamad Bin Khalifa Al Thani (Vice-Chairman)
- H.E. Mr. / Ali Bin Ahmed Al-Kuwari
- H.E. Mr. / Saad Bin Sherida Al-Kaabi
- H.E. Sheikh / Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-Thani
- H.E. Sheikh / Bandar Bin Mohammed Bin Saoud Al-Thani
- H.E. Mr. / Nasser Bin Ghanim Al-Khelaifi
- H.E. Mr. / Hassan Bin Abdulla Al-Thawadi
The Board provides strategic guidance and monitors QIA executive management and is responsible for the governance implementation of QIA’s mission.
The Board is supported in its oversight by four Board Committees: Audit Committee, Investment Committee, US Investment Committee, and Local Portfolio Committee.
QIA operates within a framework of appropriate Governance policies and procedures.
Within the Legal Department, the dedicated Governance function is responsible for establishing, managing and ensuring the good corporate governance framework of QIA, in accordance with the Santiago Principles and other international standards, such as the G20/OECD Principles of Corporate Governance, the International Corporate Governance Network (ICGN) Global Governance Principles.
QIA’s Delegation of Authority Manual (DoA) specifies the approval authorities for key decisions and includes the authorities delegated to the Board of Directors, CEO and other QIA executives. The DoA reflects QIA’s continuous strive to strengthen its governance and align it with industry best practices.
QIA has made ‘Sustainability/ESG’ one of its key Corporate Priorities.
Cross functional working teams have been collaborating to develop the approach to Sustainable Investing. Within this approach, QIA is focused on enhancing the governance practices of its portfolio companies, which includes improved reporting and engagement activities.
QIA continues its active contribution to global initiatives. QIA is a founding member of One Planet SWF framework and has become a member of the ICGN.
Participating in such important platforms for collaboration supports QIA in its drive to adopt and endorse global best standards and practices, effective stewardship and engagement with other key actors in order to further its objectives.