Boursa Kuwait publishes its fourth sustainability report
The report outlined the company's sustainability strategy, its non-financial performance and initiatives for 2024
Kuwait City: 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.
About Boursa Kuwait:
The establishment of Boursa Kuwait in 2014 marked the first step in the privatization project of the Kuwait Stock Exchange, which was founded in 1977 as the first exchange in the Gulf Cooperation Council region and was reorganized in 1983 as an independent financial institution. The transitional phase began in 2016, with Boursa Kuwait officially assuming the responsibilities and operations of the Kuwait Stock Exchange, replacing it with an official license in the same year after the successful completion of the transitional phase. This ensured that Boursa Kuwait developed the infrastructure and operated according to best practices and international standards. It commenced the creation of an advanced, reliable trading platform built on efficiency, credibility, and transparency to serve all asset classes with a focus on the interests of traders and the national economy.
Boursa Kuwait has undertaken various market reforms as part of its comprehensive plans to enhance it in several stages. It succeeded in introducing innovative investment tools, enhancing transparency, and restructuring the market to increase its liquidity and competitiveness, based on its mission-focused strategy, which emphasizes developing the market to meet international standards. The company's developmental and improvement efforts have also contributed to the reclassification of the Kuwait market as an «emerging market» among key global index providers, enhancing Kuwait's position as a leading regional financial center.
In a pioneering step in Kuwait's privatization field, the privatization of Boursa Kuwait was successful, conducted in two stages. The first stage was in February 2019 when a consortium of Kuwaiti investment companies and a global exchange operator won the privatization bid, acquiring a 44% stake in the company.
In December 2019, the privatization process was completed through the public offering of a 50% stake owned by the Capital Markets Authority to Kuwaiti citizens, with the offering oversubscribed by more than 850%. Boursa Kuwait is listed on the «Premier Market» under the name «Boursa».
For further information, please contact:
Ahmad Rashed Alowaish
PR and Media Manager - Boursa Kuwait
Email: aalowaish@boursakuwait.com.kw
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