Boursa Kuwait named the most sustainable company in the financial services sector by World Finance

Kuwait City – Boursa Kuwait was awarded the title of “Most Sustainable Company in the Financial Services Industry” by World Finance magazine, which recognized the efforts of the national exchange operator to raise awareness and drive the adoption of sustainable business practices, internally and globally. broader capital market.

World Finance is a print and online magazine offering comprehensive coverage and analysis of the financial industry, international business and the global economy targeting an audience of finance professionals as well as corporate and private investors. The magazine’s Sustainability Awards program celebrates companies around the world that put green values ​​at the heart of their business operations. This year’s winners are those who have demonstrated a genuine commitment to reducing emissions across their company’s value chain. Companies recognized with Boursa Kuwait include Saudi Aramco, Volkswagen Group, Turkish Airlines and Swisscom.

Since its inception, Boursa Kuwait has prided itself on being a progressive financial services company that strives to develop and improve the apparatus of Kuwait’s capital market and its participants, whether by introducing products and services internationally recognized, by developing an improved market infrastructure or by ensuring that business operations are sustainable in the short, medium and long term.

The company’s Corporate Sustainability Strategy (CS) is a fundamental part of its overall strategy, and it recognizes that sustainable operations and practices are becoming increasingly vital for investors and issuers. Since 2017, when it joined the United Nations’ Sustainable Stock Exchange (SSE) initiative, the company has made a formal commitment to fostering corporate sustainability in financial markets.

As the operator of the country’s stock exchange, Boursa Kuwait can play a crucial role in achieving the overarching goals of the country’s ambitious roadmap by promoting and advancing corporate sustainability practices in capital markets. and creating an investment climate that can attract capital and encourage sustainable investment. . The company recognizes that it plays a crucial role in the global transition to more sustainable economies and is committed to ensuring that the market and its participants continue to stay abreast of the latest developments in the world’s capital markets entire.

Through contributions to the three pillars “Education”, “Community” and “Environment”, Boursa Kuwait aims to be responsible and committed to its sustainable development as well as the community in which it operates and to promote the adoption of socially impactful policies and responsible. practices in surrounding communities.

In 2021, the company continued to partner and collaborate with local and international organizations on initiatives that align with each pillar. In the “Community” pillar, Boursa Kuwait continued to give back to the community in which it operates, in partnership with the United Nations High Commissioner for Refugees, the Kuwait Red Crescent Society and the Kuwait Association for care of children in hospital to support various initiatives of each organization in the areas of education and refugee protection and security. The company also rang the bell for women’s empowerment in conjunction with the United Nations on International Women’s Day for the fifth year in a row, to raise awareness of women’s financial empowerment and highlight the key role the sector plays in supporting women’s empowerment. (WEPs) to achieve the United Nations Sustainable Development Goals (SDGs).

Under the Education Pillar, which aims to nurture a new generation of knowledgeable and skilled retail investors and securities professionals, the firm has collaborated with the CFA Society and Kuwait University to enhance Boursa Academy Online and launch new engaging and educational content, with the aim of increasing awareness and engagement with the investment community.

Boursa Kuwait also organized several virtual corporate days in 2021, in collaboration with HSBC and Goldman Sachs, and organized the “Boursa Kuwait ESG Perspectives Webinar”, which aimed to help listed companies assess their readiness to comply with the metrics ESG, and to have a better understanding of the new ESG Reporting Guide, which helps listed companies to report on environmental, social and governance (ESG) issues, and to meet the growing needs of different stakeholders, including investors , customers, suppliers and regulators for transparent and regular information.

Additionally, following the ESG Disclosure Guide, the company released its first standalone sustainability report, which details its strategy, partnerships and initiatives in the area of ​​ESG reporting and implementation for the year 2021. In addition to these guides and reports, the company recently partnered with the United Nations Development Program (UNDP) on a workshop to raise awareness of best standards and practices for reporting and implementation. implementation of ESG measures, ensuring that they are aligned with the company’s overall strategy as well as the United Nations’ sustainable development agenda. Development Goals (SDGs).

Additionally, in partnership with the Middle East Investor Relations Association (MEIRA), Boursa Kuwait hosted an Investor Relations (IR) webinar to increase transparency in communications with current and potential investors locally and globally. The company also joined a record 78 exchanges around the world to ring the bell for financial literacy during World Investor Week (WIW) 2021.

As part of its “Environment” pillar, the company has launched various green initiatives. In association with the United Nations Environment Program (UNEP) West Asia Regional Office, the Environmental Voluntary Foundation (EVF) and the Kuwait Dive Team, Boursa Kuwait sponsored the campaign national 2021 to remove hazardous waste from Kuwait Bay. The company has also launched a major initiative to renovate its buildings and facilities, which has contributed to the reduction of its energy and water discharges and to the reduction of its carbon footprint. As part of the renovations, Boursa Kuwait has also signed with EnviroServe, the first electronic recycling company in Kuwait, to handle the recycling of discarded screens, old computers as well as many other electronic devices.

Boursa Kuwait also rang the bell and illuminated Boursa’s iconic building blue to raise awareness for climate action, in collaboration with the United Nations and its representative, the Secretary-General and the Resident Coordinator’s Office of Kuwait on the occasion of United Nations Day 2021.

Boursa Kuwait’s corporate sustainability strategy states that initiatives apply and are consistent with corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and lasting partnerships that ultimately lead to success and enable Boursa Kuwait to leverage capabilities and strengths. other companies or organizations that have experience in different areas, and embed sustainability efforts into corporate culture, in order to achieve longevity and ongoing impact that is perpetuated and ingrained in operations stock market daily.

As part of this strategy, Boursa Kuwait has launched numerous initiatives in partnership with local and international organizations, focusing on supporting non-governmental organizations and charitable programs, financial education and capital market awareness, empowerment of women, as well as environmental protection.

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