Boursa Kuwait wins the award for “the most sustainable company in the financial services sector”

The culmination of the company’s ongoing commitment to promoting institutional sustainability in the Kuwaiti capital market

Kuwait City: Boursa Kuwait was awarded the “Most Sustainable Company in the Financial Services Sector” award from World Finance magazine, as a culmination of its ongoing efforts to build a more sustainable future and in recognition of its efforts to raise awareness and encourage the adoption of sustainable businesses. , both internally and among stakeholders in the financial markets.

World Finance magazine is one of the most popular magazines that provides comprehensive coverage and analysis of the financial sector, international trade and the global economy, targeting financial professionals, institutional investors and individuals. The magazine’s sustainability awards program highlights global companies that put the values ​​of preserving the environment at the forefront of their work. The winners this year also excelled in meeting the requirements of environmental protection in their businesses, including Aramco, Volkswagen Group, Turkish Airlines and Swisscom, in addition to the Kuwait Stock Exchange.

Since its establishment, Boursa Kuwait has prided itself on being an advanced financial services company that strives to develop and improve the Kuwaiti capital market and all its participants by providing internationally approved products and services, improving market infrastructure and ensuring a sustainable business model in the short, medium and long term.

The exchange has also positioned its corporate sustainability strategy as an essential part of its overall strategy, recognizing that sustainable processes and practices are becoming increasingly essential for investors and issuers. The company has officially committed itself to introducing the concepts of corporate sustainability in the financial markets since the end of 2017, when it joined the Sustainable Stock Exchanges Initiative, a platform for the exchange of experiences and knowledge led by the United Nations, which helps to expand cooperation between scholarships. and all market participants.

As the official operator of the national stock market, Boursa Kuwait realizes that it plays a key role in achieving the comprehensive goals of the state’s national development plan, by promoting and developing sustainable practices in the capital markets, creating an investment climate that able to attract capital. , and encouraging responsible and sustainable investments. The company also continues to follow the latest developments in the global financial markets, to raise awareness of the Kuwaiti capital market and its participants, and to encourage them to adopt more sustainable practices to keep up with the global transformation. towards a sustainable economy.

The company also seeks to be committed to the sustainable development of the Kuwait Stock Exchange and the society in which it operates, through a positive contribution in three main areas, namely education, society and the environment, to adopt practices that a have effective social impact.

In addition, over the past year, Boursa Kuwait has continued its partnership and collaboration with local and international organizations in initiatives that meet these pillars. Regarding the “community” pillar, the company has worked to give back to the community in which it operates, through its partnership with the United Nations High Commissioner for Refugees, the Kuwait Red Crescent Society, and the Kuwait Society for the Care of Children in hospitals, and by supporting the various initiatives of these organizations in the field of education and refugee protection and their safety. The company also rang the bell to celebrate women’s empowerment for the fifth consecutive year, in collaboration with the United Nations on International Women’s Day, to raise awareness in the areas of women’s economic empowerment and the important role played by the private sector, highlight. in promoting the principles of women’s empowerment in order to achieve sustainable development goals.

Within the framework of the “Education” pillar, which aims to create a new generation of investors with good knowledge, competence and specialization in securities, the company has collaborated with the Association of Chartered Financial Analysts in Kuwait and the University of Kuwait to activate the role of Boursa Kuwait Online Academy, the digital educational portal designed and developed by Boursa Kuwait. Providing educational content on investment principles to improve money market knowledge for new and professional investors.

In 2021, Boursa Kuwait also held several institutional days in collaboration with HSBC and Goldman Sachs, and hosted a virtual symposium entitled (Environmental and Social Governance Directions), which aimed to help listed companies assess their readiness to meet standards of adopt and implement management and social management. and environmental responsibility. The symposium included a detailed explanation of the ESG Reporting Guide, which helps support listed companies to disclose ESG reports and meet the growing needs for providing transparent and regular information to all stakeholders, including investors, customers, suppliers, regulators and other stakeholders. interested parties.

The company issued its first sustainability report, which reviews the company’s strategy, partnerships and initiatives in the field of governance, social and environmental responsibility for the year 2021, which came after the issuance of the Guide to Governance, Social and Environmental Responsibility reports. In addition, Boursa Kuwait organized a workshop on the standards, practices and tools available to ensure the optimal application and reporting of governance and social and environmental responsibility (ESG) and the importance of this in conjunction with the sustainable development goals in corporate operations to integrate. with the United Nations Development Program (UNDP). Boursa Kuwait also organized an investor relations seminar in collaboration with the Middle East Investor Relations Association and its branch in Kuwait (MEIRA) as part of its ongoing efforts to develop the investor relations sector and increase the level of transparency when dealing with existing and potential local and international investors. The Stock Exchange also joined 78 stock exchanges in ringing the bell in celebration of the initiative to spread financial and investment culture in the World Investors Week.

Regarding the “Environment” pillar, the company has launched a variety of green initiatives. In cooperation with the Regional Office of the United Nations Environment in Western Asia, and the Kuwait Dive Team of the Environmental Volunteer Foundation, the stock exchange sponsored the national campaign to remove waste from Kuwait Bay and its coast, and supported the efforts of the dive team to continue efforts to preserve the marine environment in Kuwait. It also began implementing an initiative to renovate its buildings and facilities, which contributed to reducing energy and water outputs and reducing carbon emissions. In the same context, Boursa Kuwait has partnered with EnviroServe, which is the first Kuwaiti company involved in electronic recycling, to recycle screens, old computers and many other electronic devices.

The company rang the bell and lit its building blue on United Nations International Day, to raise awareness of climate issues in collaboration with the United Nations, the Office of the Secretary-General of the United Nations and the Resident Coordinator in the State of Kuwait .

Boursa Kuwait’s corporate sustainability strategy provides for ensuring the implementation of initiatives and their compatibility with governance, social and environmental responsibility, best practice standards in the sector in which it operates, and investors’ expectations; In addition to establishing strong and sustainable partnerships that help the Kuwait Stock Exchange to fulfill the success and allow the company to benefit from the regulations and points of power of companies or other institutions that have an expert in various fields, in addition to the inclusion of social responsibility efforts for the companies with the company of the company, and you do not and inculcate it in the company’s day-to-day operations.

Since its establishment, Boursa Kuwait has worked on establishing a reliable stock exchange based on credibility and transparency, creating a flexible financial market with liquidity, and an advanced trading platform, in addition to developing a comprehensive set of reforms and improvements that raised it to the highest regional and international levels. The company has also implemented many market reforms and launched many products over the past years as part of its comprehensive plans to develop the market.

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