Reaffirming its commitment to contributing to the Kuwait National Development Plan, or New Kuwait 2035, Boursa Kuwait has aligned its long-term business strategy with the country’s vision for a sustainable future where it would evolve into a financial, cultural and institutional leader in the region. Boursa Kuwait recognizes that it can play a crucial role in materializing the overarching objectives of the nation’s ambitious roadmap through promoting and advancing corporate sustainability practices in capital markets and by creating an investment climate that is capable of attracting funds and encouraging sustainable investments. This guiding principle provides the framework for the company’s corporate sustainability strategy for 2019-20.
At the end of 2017, Boursa Kuwait made a formal commitment to drive corporate sustainability in financial markets by becoming a member of the United Nations-led Sustainable Stock Exchanges (SSE) initiative, which is a platform for the exchange of experience and knowledge that helps broaden the collaborations between exchanges and all market participants. This step helped increase transparency among companies and improving performance in environmental, social and governance (ESG) endeavors, as well as encouraging sustainable investment
Boursa Kuwait aims to be responsible and committed to its sustainable development as well as the community in which it operates, by ensuring a positive contribution to the three areas of Education, Community, and Environment, and to promote the adoption of socially impactful and accountable practices in our surrounding communities.
These three key areas are fully aligned with the New Kuwait 2035 strategy pillars, which aim to elevate the overall status of the nation’s ‘Global Positioning,’ ‘Creative Human Capital,’ ‘Effective Civil Service’ and ‘Sustainable Diversified Economy’.
With a view to creating long-term value for the company’s stakeholders in the economic, social and environmental dimensions and ensuring that all corporate social responsibility (CSR) initiatives are aligned with its sustainability objectives, Boursa Kuwait has put in place a three-phased strategy to align, create and integrate.
This strategy stipulates ensuring initiatives apply and fall in line with the company’s corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, in order to achieve longevity and an ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange.
Education, Community, and Environment are the three pillars of the corporate sustainability strategy. The ‘Education’ pillar envisions a robust capital market ecosystem where all stakeholders are fully equipped with the knowledge and skill required to be an active player in the nation’s exchange and capital markets, while the ‘Community’ pillar embodies Boursa Kuwait’s commitment to giving back to the community. The company’s shared responsibility to minimize the adverse impact that its operations may have on the environment is reflected in the ‘Environment’ pillar, which also aims to raise the awareness of the local and surrounding communities on the best practices to decrease harm and preserve the environment.
For an overview of the sustainability initiatives rolled out by the company throughout the years, please check out the Annual Reports section of the website.
2022 Sustainability Report
Boursa Kuwait’s second Sustainability Report exemplifies the reporting commitment of Boursa Kuwait as the national stock exchange and the first stock exchange established in the GCC. The company continues to recognize the need to play a crucial role in materializing the overarching objectives of Kuwait's ambitious roadmap through the promotion and advancement of corporate sustainability practices in the domestic capital market and by creating an investment climate that is conducive to attracting and encouraging sustainable investments by its wide-ranging participants.
2021 Sustainability Report
Boursa Kuwait’s 2021 Sustainability Report marks the beginning of the company’s long-term commitment to progressively report the latest results and impacts of our Corporate Sustainability (CS) strategies to our stakeholders and inaugurates the ESG reporting apparatus of Boursa Kuwait, detailing our contributions to the "New Kuwait 2035" vision, which aims to transform Kuwait into a financial, cultural, and institutional leader in the region.
ESG Reporting Guide Overview
Reaffirming its commitment to contributing to the Kuwait National Development Plan, New Kuwait 2035, Boursa Kuwait has developed an ESG Reporting Guide that aims to support listed companies to report on Environmental, Social, and Governance (ESG) issues, and to meet the growing needs of various stakeholders, including investors, customers, suppliers, and regulators for transparent and regular information.
At the end of 2017, Boursa Kuwait made a formal commitment to drive Corporate Sustainability in financial markets by becoming a member of the United Nations-led Sustainable Stock Exchanges (SSE) initiative, a platform for the exchange of experience and knowledge that helps broaden the collaborations between exchanges and all market participants.
Building on that initiative, Boursa Kuwait created a comprehensive guide to encourage market participants to take the first step in the ESG universe and understand the different ways of reporting and its importance, the growth of Corporate Sustainability, as well as what areas to report on. An understanding of these key areas will in return help companies increase transparency and improve on ESG endeavors.
This guide will include recommended sustainability metrics and a set of indicators that will assist market participants understand where they currently stand as well as how to improve and set future goals. Furthermore, the recommended sustainability metrics include indicators that are simultaneously corresponding with the United Nations Sustainable Development Goals (SDGs), the Global Reporting Initiative (GRI), and the pillars of Kuwait’s 2035 Vision.
Boursa Kuwait recognizes that adopting performance and disclosure best practices in regard to Corporate Sustainability will be unique to each company based on its own business model and sector.
Listed issuers may choose to look beyond this guide and explore comprehensive reporting frameworks or guidelines, such as the Global Reporting Initiative (GRI) or the Integrated Reporting (IR) framework.
To download the Guide click here
The GCC Exchanges Committee published an optional unified set of ESG Disclosure Metrics, comprising of 29 standards aligned with the UN Sustainable Development Goals, including categories for GHG emissions, energy and water usage, gender pay, employee turnover, data privacy, ethics and more.
The metrics, which are optional and do not replace existing ESG disclosure guidelines, are an important step towards standardizing ESG disclosure across the GCC region’s capital markets, serving as a guide for companies wishing to disclose ESG-related performance.
To view the optional GCC ESG metrics, click here
Boursa Kuwait is committed to conducting its business in an ethical, legal, and socially responsible manner. The company engages with its contractors to share this commitment and has established this Contractor Code of Conduct (“Code”). Although there may be different legal and cultural environments applicable to its contractors, Boursa Kuwait encourages our contractors to comply with this Code in order to do business with Boursa Kuwait or any of its subsidiaries.
This Code applies to all vendors, suppliers, contractors, and sub-contractors (collectively, “Contractors”) that have entered into a contractual agreement to provide goods or services to Boursa Kuwait.
This Code is intended to reduce contractors’ risk concerning Environmental, Social, and Governance (ESG) metrics. It adheres to international standards and practices in this field. This document will be reviewed and updated on an annual basis.
We encourage contractors to maintain policies, procedures, and practices to address these topics. We also encourage our contractors to implement efficient management systems, utilizing internationally recognized standards on the following matters:
Environmental Protection by:
Employee Rights and Interests by:
Business Ethics by:
Boursa Kuwait is committed to its corporate responsibility to respect human rights and encourages its contractors to acknowledge and not tolerate any human rights violations in the following: