Boursa Kuwait published its Sustainability Report on its website, detailing the company’s strategy, partnerships, and initiatives in the field of Environmental, Social, and Governance (ESG) reporting and implementation for the year 2021.
According to Boursa Kuwait’s statement, the report also displays the firm’s commitment to disclosing the latest results and effects of its Corporate Sustainability (CS) strategy and enhancing its operational sustainability, as part of its efforts to implement ESG best practices and standards as well as improving disclosures and transparency.
The report from the firm also adds that as the operator of the stock exchange and a model issuer, Boursa Kuwait’s publication of this report shows its commitment to engaging with various stakeholders in regard to developments in the field of ESG and CS.
The publication of the Sustainability Report comes on the heels of publishing the ESG Reporting Guide last year, to encourage listed companies to include sustainability metrics in their activities, decision-making, and reporting to better keep pace with the interests of local and international investors.
Additionally, the guide included indicators to help market participants understand their current situation and how to improve and set future goals, in line with the United Nations Sustainable Development Goals (SDG), the Global Reporting Initiative (GRI), and the pillars of the “New Kuwait 2035” vision and the National Development Plan for the State of Kuwait.
Commenting on the announcement, Boursa Kuwait’s Chief Executive Officer, Mr. Mohammad Saud Al-Osaimi, stated, “The efforts to support and enhance sustainability lie at the core of the pivotal role that capital markets play in shaping the future of the economy. The adoption of ESG principles and sustainable operations helps Boursa Kuwait develop and address key cogs in its strategy, both as a listed company and the operator of the exchange. To that end, the Sustainability Report helps us consolidate our prominent position in driving sustainable operations in capital market activities as we have always sought to include sustainable practices for our business, looking for more efficient and effective ways to engage and serve our various stakeholders.”
Al-Osaimi added, “The metrics of ESG, disclosure, and transparency are basic criteria for today’s investors in assessing their investments, as the application of sustainability best practices is important to enhance the competitiveness of Kuwait’s capital market internationally, which will undoubtedly attract more foreign investments to it, as well as support business growth and compliance with regulatory requirements.”
The Report also comprised the ESG metrics and measurements for the activities, management, and operations of Boursa Kuwait, with an analysis of their economic, social and environmental impacts, whether at the operational level or at the level of business continuity, in an effort to achieve added value for shareholders, customers, partners, and various other stakeholders.
The firm also claimed that the report also displayed the company’s achievements in the areas of ESG reporting and implementation and the company’s contribution to a more successful tomorrow and a sustainable future. You can view the full Sustainability Report 2021 or the ESG Reporting Guide by visiting the Boursa Kuwait website.
Prior to the publication of this report, Boursa Kuwait usually reported on ESG metrics and activities as part of its annual reports, participating in many initiatives to promote sustainable practices as part of its CS strategy. The 2021 Sustainability Report is an extension of this commitment, which the company formally made in 2017 when it joined the UN-led Sustainable Stock Exchanges Initiative (SSE). The report is also in accordance with the framework of the recommendations issued by the World Federation of Exchanges (WFE), which the exchange has been a member of since 2018.
As part of its Corporate Sustainability strategy, Boursa Kuwait has launched many initiatives in partnership with local and international organizations. The initiatives focused on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women, environmental protection as well as safety and preventive measures against Covid-19.
Since its inception, the company has strived to develop a strong financial market with high liquidity and credibility through the implementation of a range of structural and technical developments and initiatives that will enhance the position of the exchange, regionally and globally.
Boursa Kuwait claimed that they continue to implement many steps in accordance with international practices and standards to transform Kuwait into a regional and global investment destination, by focusing on creating an attractive issuer base and broadening its investor base, increasing the depth and breadth of its products, as well as upgrading its infrastructure and business environment to international standards.
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