Boursa Kuwait publishes its fourth sustainability report, reaffirming its commitment to governance, transparency and sustainable growth
Boursa Kuwait published its fourth Corporate Sustainability Report, which shed light on the company's initiatives from January 1 to December 31, 2024. The report outlined the company's sustainability strategy and assessed its governance, social responsibility and environmental stewardship performance.
The report marks a significant milestone in Boursa Kuwait's journey, reinforcing its commitment to Environmental, Social, and Governance (ESG) practices since its inception and reflecting its dedication to adopting internationally recognized best practices to develop an efficient, transparent, and inclusive financial market.
It was prepared in alignment with the core concepts of the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) guidelines for the securities and commodities exchanges sector and the United Nations Sustainable Development Goals (SDGs). The report also adheres to the principles of Boursa Kuwait's ESG Reporting Guide, which incorporates the requirements of the International Sustainability Standards Board (ISSB) to meet the evolving and dynamic expectations of all stakeholders.
'This year marked a pivotal milestone for Boursa Kuwait as we celebrated our tenth anniversary — a decade defined by excellence, innovation, and meaningful progress. Over the years, we have played a key role in advancing Kuwait's capital market while embedding sustainability at the heart of our operations and reinforcing our belief that Boursa Kuwait's role extends well beyond facilitating trading and investment. The company is deeply committed to driving economic growth and enhancing financial inclusion across the State of Kuwait,' said Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi.
Al-Osaimi added that the report signifies a pivotal step in Boursa Kuwait's efforts to align its objectives with Kuwait's vision for national development and its international climate commitments. He noted that, as a key enabler of sustainable finance and a model issuer in the Kuwaiti capital market, the company plays a prominent role in empowering listed companies to incorporate sustainability into their operations and financial strategies to attract long-term investments.
'In 2024, Boursa Kuwait made significant strides in advancing ESG principles, guided by its comprehensive governance framework, which ensures the highest standards of transparency and underscores the company's commitment to ethical business practices in line with global benchmarks. The company remains committed to ethical business practices in line with the standards adopted worldwide, keeping pace with the evolving dynamics of the international financial landscape and adopting the latest best practices to contribute effectively to a more sustainable future for the Kuwaiti financial sector,' Al-Osaimi said.
Throughout 2024, Boursa Kuwait continued to advance its commitment to financial literacy — a core pillar of its mission since inception and a key driver in reinforcing the company's position both regionally and globally. Anchored in the belief that well-informed stakeholders are vital to the growth, integrity, and long-term resilience of capital markets, the company remained steadfast in its efforts to equip individuals with the knowledge and skills needed to actively engage in — and benefit from — Kuwait's capital market and the broader financial ecosystem. These efforts contribute to fostering a more inclusive, empowered, and resilient financial environment.
As part of these ongoing efforts, Boursa Kuwait launched the inaugural edition of the 'Bell' initiative, aimed at positioning financial literacy as a foundational tool for financial stability, economic development, and social prosperity. The initiative was implemented in collaboration with the Union of Investment Companies, Kuwait University, the CFA Society Kuwait, Kuwait Financial Centre 'Markaz,' and the Credit Information Network Company (Ci-Net).
Boursa Kuwait also added several prestigious accolades to its growing list of achievements, a testament to its continued excellence in corporate sustainability, governance and ESG practices. The company received seven awards from renowned international institutions, underscoring its leadership and impact in these critical areas, including 'Best in Sustainability Transparency' award from Global Finance magazine, 'Best Sustainable Corporate Governance – Kuwait' and 'Best ESG Strategy – 2024' from The European magazine and 'Outstanding Contribution to Women's Empowerment in MENA – 2023', 'Best ESG Strategy in GCC Capital Markets – 2023' and 'Outstanding Contribution to Financial Inclusion in GCC Capital Markets – 2023' from Capital Finance International (CFI). Its 2023 Sustainability Report was also recognized as the Best Sustainability and ESG Report by the Middle East Investor Relations Association (MEIRA).
The bourse was able to make strides in its ESG efforts internally as well, achieving an employee retention rate of 98% in 2024 to underscore its success in cultivating a dynamic and empowering work environment that fosters both professional growth and personal development. Boursa Kuwait also continued to actively support a range of social and environmental initiatives, working closely with local and international organizations to sponsor 38 programs designed to create meaningful, long-term impact within the community it serves throughout the year.
These accomplishments underscore Boursa Kuwait's unwavering commitment to promoting transparency, embedding sound governance and advancing sustainability across the market as well as highlighting the company's pivotal role as a leading enabler of sustainable finance in Kuwait, dedicated to building a resilient, inclusive financial ecosystem that drives economic growth and supports the transition to a more sustainable future.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Bawaba
2 days ago
- Al Bawaba
Audit and Accountability in Focus at AUB Panel on the Chehab Era and the Path Forward
The American University of Beirut (AUB) hosted a timely and thought-provoking panel discussion titled Audit and Accountability – The Chehab Era and the Path Forward, organized by the Fouad Chehab Foundation (FCF), and the AUB Good Governance and Citizenship Observatory (GGCO) housed at the Asfari Institute for Civil Society and Citizenship. Held on AUB's campus, the event brought together leading legal and governance experts to examine the institutions established under former President Fouad Chehab—bodies tasked with supervising public administration and enforcing accountability—and to explore their relevance to Lebanon's current challenges in governance and state event was moderated by Attorney of Law Amine Bachir and featured three distinguished panelists: Judge Georges Attieh, president of the Central Inspection Board; Court of Accounts Judge Elie Maalouf, professor at La Sagesse University; and Judge Rana Akoum, head of the Enforcement Court in Simon Kachar, founding and current director of GGCO, welcomed the panelists and attendees, and spoke about the timeliness of the panel and the growing momentum in Lebanon for governance and institutional reform. He noted that the collaboration with the Fouad Chehab Foundation reflects a shared commitment to linking the lessons of the past with the reform efforts of his recorded video message opening the event, AUB President Dr. Fadlo R. Khuri praised Chehab as 'one of the most important presidents Lebanon has known,' highlighting his commitment to the development of robust state institutions. 'We see today not only an opportunity to study the accomplishments, merits, and difficulties of the Chehab era,' Khuri stated, 'but also to apply what we learn from these studies to Lebanon's current reality.' He added that we must work toward building 'a state of institutions at a time when the Lebanese state is expressing its will and determination to reassert its authority across the country.'Khuri noted that the Chehab era was defined by the application of law and respect for institutions, a principle Lebanon has struggled to uphold since the onset of civil war, stating that enforcing the law and upholding institutional will are capabilities essential for restoring confidence in governance and rebuilding a viable of the Fouad Chehab Foundation Adel Hamiyeh reflected on the enduring values behind the foundation's work. He noted that President Chehab built institutions that were not only administrative and financial, but also social, cultural, and developmental in nature. Hamiyeh said, 'We decided to organize a series of panel discussions on the Chehabist experience, addressing topics such as governance, and involving universities, with the aim of introducing the Chehabist message to the younger generation—especially during this period marked by the optimism that accompanied the election of President Joseph Aoun, his delivery of the oath of office, and the subsequent formation of a distinguished government known for its competence and its promising ministerial statement. This has given us hope that this new era may resemble that of President Fouad Chehab in terms of restoring the authority and institutions of the state and returning to a natural foreign policy."The discussion unfolded in three parts: lessons learned from the Chehab era, the current state of institutional paralysis, and potential paths forward. The panelists discussed the rationale behind President Chehab's establishment of key institutions such as the Central Inspection, the Audit Bureau, and the Disciplinary Council. These bodies were conceived as independent mechanisms to promote transparency, discipline, and ethical governance across public administration. The discussion highlighted how these institutions once played a pivotal role in instilling accountability, protecting public resources, and professionalizing the civil service. The discussion also revisited the structural foundations that allowed these institutions to function with autonomy during the Chehab era, and considered the leadership decisions that helped insulate them from political conversation then moved to the contemporary state of these institutions, as the panel examined the range of factors that have contributed to their current dysfunction—including political encroachment, legal ambiguities, and insufficient staffing and funding. The panelists acknowledged that many of these bodies now face significant operational challenges, preventing them from fulfilling their original mandates. Despite this, there was recognition that these institutions still hold potential if revitalized with the appropriate structural and legal ahead, panelists reflected on potential reform pathways. They explored ideas such as enacting legal safeguards to enhance institutional independence, leveraging digital tools to modernize audit and inspection functions, and fostering closer collaboration between oversight bodies, the judiciary, and civil society actors. The discussion emphasized the importance of reestablishing credibility through transparent practices and rebuilding public confidence in Lebanon's governance the discussion, panelists revisited the core principles of the Chehab era—discipline, transparency, and institutional accountability—as potential foundations for Lebanon's future reform efforts. While acknowledging the serious structural and political challenges that remain, the conversation underscored the importance of rebuilding credible and independent institutions capable of advancing good governance and restoring public trust. The session concluded with an engaging Q&A, during which attendees posed questions and shared reflections, enriching the conversation around the future of institutional reform in Lebanon.
Ammon
4 days ago
- Ammon
Jordan, Morocco discuss economic cooperation
Ammon News - The Amman Chamber of Commerce (ACC) and Morocco's ambassador to Jordan, Fouad Akhrif, held a meeting to explore ways to enhance trade and investment cooperation between the two countries, citing the need for stronger institutional coordination and greater engagement between their private sectors. According to a statement by the Chamber, Chairman Khalil Al-Haj Tawfiq emphasized the strength of Jordanian-Moroccan relations and called for the development of deeper economic ties. He said current trade volumes do not reflect the potential of the bilateral relationship and pointed to limited delegation exchanges and coordination between chambers of commerce as key obstacles. Al-Haj Tawfiq proposed activating communication channels, improving the flow of investment and trade information, and establishing continuous networking platforms between the two business communities. He announced an agreement with Moroccan Member of Parliament Khadija Hajoubi to host an exhibition of traditional Moroccan crafts and products in Amman later this year. A twinning arrangement is also planned between the Amman Chamber of Commerce and the chamber in the Fès-Meknès region. He added that the Chamber is prepared to support Moroccan companies seeking entry into the Jordanian market and encouraged joint private-sector participation in reconstruction projects in Syria. He also described Morocco as a key gateway for Jordanian companies seeking access to African markets. Al-Haj Tawfiq stressed the importance of streamlined visa procedures and closer cooperation with the Moroccan Embassy to facilitate business travel and joint trade events. Ambassador Akhrif acknowledged the strength of political ties between Jordan and Morocco but noted that economic relations remain underdeveloped by comparison. He urged both sides to intensify efforts to realize their economic potential, citing Morocco's ongoing development across sectors. He proposed holding a business forum in Morocco to bring together companies from both countries, focusing on promising sectors that could support trade and investment partnerships. Akhrif also highlighted Morocco's investment opportunities and encouraged Jordanian businesses to leverage existing bilateral agreements and participate in trade missions. Chamber board members emphasized the need to implement and update bilateral agreements and memorandums of understanding, noting that deeper cooperation could lead to expanded trade, greater diversification of exchanged goods, and stronger collaboration in tourism, transportation, and logistics. They welcomed the planned resumption of direct flights between the two countries later this year, which they said would improve business mobility. However, they noted that the current sea freight route is inefficient due to its length and called for the development of faster, more reliable transport links.
Jordan News
4 days ago
- Jordan News
Ministry of Agriculture Announces Indicative Prices for Eid Al-Adha Sacrificial Animals - Jordan News
The Ministry of Agriculture has announced the opening of imports for live sacrificial animals from Syria, as part of efforts to boost supply in local markets and stabilize prices ahead of Eid Al-Adha. اضافة اعلان According to the ministry's spokesperson, Lawrence Al-Majali, in a radio statement, importing live Syrian kids (young goats) has been approved and they are now available in local markets as an option for Eid sacrifices. He added that importing live sheep from Syria is currently limited to the military institution only, noting that this decision is part of the ministry's policy to diversify sources of sacrificial animals and reduce pressure on domestic production. Al-Majali highlighted that most sacrificial animals in Jordan are of local origin, in addition to imported animals from countries such as Romania, Australia, and Spain. He emphasized that importing from Syria helps balance supply and demand during the Eid season and enhances citizens' ability to purchase sacrifices at reasonable prices. Sacrificial Animal Prices Al-Majali noted that the livestock market in Jordan is witnessing an unprecedented abundance this year, with about 580,000 heads of local and imported sheep available, while the market demand is estimated at only 250,000 to 300,000 heads. He also shared indicative prices for sacrifices: The average price for a medium-sized imported sacrifice ranges between 200 to 225 Jordanian Dinars. The local sacrifice ranges between 220 to 260 Dinars, depending on supply, demand, and availability. He clarified that these prices are indicative, not fixed, and based on market conditions. Prices usually start to drop after the afternoon of the first day of Eid and continue to decline during the following Tashreeq days. Al-Majali urged citizens to shop around and compare prices before buying, noting that there are over 400 livestock sale points in Amman alone, in addition to other sites across the kingdom.
