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Kuwait Times
3 days ago
- Business
- Kuwait Times
Celebrating a year of leading with purpose and pioneering sustainability in finance
KUWAIT: In line with its pioneering role and institutional commitment to embedding sustainability across all aspects of its operations, National Bank of Kuwait (NBK) released its ninth annual Sustainability Report for 2024. The report outlines the Bank's most prominent ESG-related achievements and contributions over the past year, reinforcing its dedication to sustainable growth. The report outlines the strategic ESG initiatives undertaken in 2024, highlighting NBK's continued efforts to tackle key sustainability challenges, explore emerging opportunities, and build on the sustainability journey it began in 2016. It also demonstrates the Bank's progress in embedding climate risk into its enterprise risk management framework. Providing a comprehensive overview of NBK's strategic sustainability roadmap, the report reflects the Bank's ambition to create a lasting positive impact on the communities it serves, while fostering long-term growth and operational resilience. The report is structured around four main ESG pillars—Governance for Resilience, Responsible Banking, Capitalizing on Our Capabilities, and Investing in Our Communities—each encompassing key issues, milestones, and initiatives undertaken in 2024. Governance for Resilience The report pointed out that NBK made significant strides in 2024 in strengthening governance for resilience as part of its ESG strategy. It highlighted NBK's role as a pioneer in advancing sustainability, becoming the first financial institution in Kuwait—and one of only 15 in the MENA region to join the Partnership for Carbon Accounting Financials (PCAF). This global initiative provides financial institutions with standardized methodologies to measure and disclose greenhouse gas emissions associated with their portfolios across all asset classes, including lending and investment activities such as listed equities and bonds, corporate loans, private equity, project finance, commercial real estate, mortgages, auto loans, guarantees, and sovereign debt. The report also noted that in 2024, NBK continued its engagement with the United Nations Global Compact (UNGC), the world's largest corporate sustainability initiative, which it joined in 2023. As part of this alliance, NBK submitted its first progress report in 2024, affirming its commitment to transparency and responsible business practices that support the sustainable development of Kuwait's economy. Furthermore, it emphasized that 2024 marked the release of NBK's first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework. As part of its continued progress toward a more sustainable future, the report noted that NBK developed and implemented a comprehensive bank-wide Environmental and Social Risk Management (ESRM) framework in 2024. This milestone reflects the Bank's commitment to embedding climate governance at the core of its operations, strengthening its ability to anticipate and manage emerging environmental risks. Additionally, NBK developed an ESG scorecard that supports the assessment and integration of ESG criteria into the credit rating process for both existing and new corporate clients. Responsible banking With regard to the Bank's achievements under the second pillar of its ESG strategy—Responsible Banking—the report highlighted that the value of NBK's sustainable assets reached $4.97 billion by the end of 2024, representing nearly 50 percent of its $10 billion target set for 2030. The report also noted a key milestone in 2024: the successful issuance of NBK's first green bonds, valued at $500 million. Issued under the Global Medium-Term Note Program as senior unsecured green bonds with a six-year maturity and a call date after five years, this marked the first issuance of its kind by a Kuwaiti financial institution. NBK recently published its first Green Bond Allocation and Impact report, highlighting the environmental benefits of the bonds' proceeds. Moreover, the report emphasized that this significant milestone reflects NBK's broader vision to lead the transition toward a low-carbon economy, promote sustainable finance across the region, and channel capital into climate-resilient infrastructure. It also revealed that in 2024, NBK Group extended sustainable loans totaling $2.52 billion to clients with environmental and/or social impact. The report noted the continued expansion of green product offerings, including electric vehicle loans and low-emission housing loans, alongside ongoing efforts to explore further environmental financing opportunities under the Bank's sustainable financing framework. The report noted that in 2024, NBK took a significant step toward quantifying financed emissions under Scope 3 - emissions that originate from activities outside the Bank's direct operations but are associated with its value chain, such as supply chains, transportation, and other indirect sources, but most importantly, its financing activity. This development enhances the Bank's ability to manage the broader climate impact of its financing decisions. According to the report, NBK completed the installation of solar panels across 18 of its local branches in 2024 as part of efforts to make its operations more sustainable and reduce its carbon footprint. The initiative aligns with Kuwait's Vision 2035, with plans to extend coverage to 24 branches by 2025. It also highlighted NBK's progress in minimizing its environmental footprint and enhancing resource efficiency, noting a 28.30 percent reduction in total greenhouse gas emissions compared to the 2021 baseline—surpassing its interim 2025 emissions reduction target ahead of schedule. Additionally, the report explained that in 2024, the bank successfully reduced its electrical energy consumption by approximately 389,914 kWh, cut water usage by 20.85 percent compared to the previous year, and recycled 86 percent of the total paper used during the year. This reflects the Bank's ongoing efforts in line with its long-term ambition to reach carbon neutrality by 2060. The report highlighted that in 2024, NBK introduced a sustainable procurement framework designed to promote environmentally and socially responsible sourcing across its supply chain. The initiative integrates ESG considerations into the Bank's procurement policy and includes the rollout of an updated supplier code of conduct that embeds environmental and social standards, requiring all suppliers to sign a declaration affirming their commitment to ESG principles and human rights. Capitalizing on our capabilities Covering the third pillar of its ESG strategy—Capitalizing on Our Capabilities—the report stated that NBK advanced its sustainability efforts in 2024 by reinforcing equal opportunity in the workplace. This included finalizing its Diversity, Equity, and Inclusion (DE&I) statement, underscoring the Bank's commitment to fostering an inclusive and equitable work environment. The report explained that in 2024, the Bank launched several strategic initiatives and specialized programs aimed at supporting and developing women leaders, contributing to a notable increase in the number of women in leadership and supervisory roles across all levels. It noted that women represented 43.2 percent of NBK's workforce by the end of the year, with 27.4 percent holding senior management positions. Additionally, women accounted for 28.8 percent of the Bank's workforce in science, technology, engineering, and mathematics (STEM) fields, out of a total of 347 specialized employees. The report highlighted that, through its digital transformation strategy, NBK successfully delivered a range of customer-centric digital solutions and large-scale projects in 2024. It noted the launch of over 90 new features and enhancements via the NBK Mobile Banking App, aimed at improving user experience, strengthening security and payment capabilities, and broadening the Bank's suite of innovative digital offerings — all designed to save customers time and effort. It stated that Weyay Bank, NBK's digital arm, launched impactful ESG initiatives in 2024 aimed at enabling customers to experience a more responsible and innovative digital banking model. It also underscored NBK's continued investment in the professional development of its workforce, highlighting a comprehensive suite of mandatory, leadership, and specialized training programs designed to enhance both personal and professional competencies across all levels of the organization. The report emphasized the Bank's ongoing commitment to empowering young national talent through various initiatives, most notably NBK Academy and NBK Tech Academy. Touching on NBK's strategy to strengthen women's leadership across the organization, the country, the region, and globally, the report stated that the Bank launched the second edition of the NBK RISE program in 2024. As the first initiative of its kind in Kuwait, the program is designed to support women leaders, empower their advancement, and prepare them to assume top executive roles. The report also highlighted NBK's ongoing commitment to investing in human capital. In 2024, the Bank signed an exclusive cooperation agreement with Coaches Circle Academy, based in Vancouver, Canada, to enhance the leadership and coaching capabilities of NBK's senior executives. As part of this initiative, a select group of senior employees participated in advanced leadership development programs in collaboration with IE Business School in Madrid, to cultivate and elevate the skills of the broader workforce. Investing in our communities The report affirmed that, in line with the fourth pillar of NBK's ESG strategy — Investing in Our Communities — the Bank remained committed in 2024 to delivering exceptional service, safeguarding customer interests, and protecting their rights. It also continued to promote financial inclusion, expand access to banking services, and elevate financial literacy across all segments of society. Furthermore, the report explained that, reinforcing its position as the leading contributor to social responsibility in Kuwait, NBK's total community investments reached KD 30 million in 2024 — a 9 percent increase from 2023. It added that, as part of its continued support for entrepreneurs in Kuwait, the Bank extended loans to SMEs totaling KD 25.04 million last year, reflecting a 23.5 percent year-on-year growth. The report noted that the Kuwaitization rate at NBK – Kuwait reached 78 percent in 2024, aligning with the requirements set by the Central Bank of Kuwait (CBK). This was achieved through targeted initiatives aimed at attracting and developing local talent. It underscored that NBK's Kuwaitization strategy is designed to broaden the recruitment of national talent and sustain their retention over the long term. It also indicated that, as part of the Bank's ongoing commitment to community development—particularly in the field of education—interest in the Bankee program has continued to grow. This flagship initiative, aimed at enhancing financial awareness and literacy among school students in Kuwait, saw the participation of 61 schools, 7,230 teachers, and 32,257 students during the 2024–2025 academic year, building on the remarkable success achieved in the previous year. The report stated that, during 2024, NBK maintained its sponsorship of Kuwait Dive Team to support initiatives aimed at preserving Kuwait's coastal and marine ecosystems. It also renewed its partnership with Omniya for waste removal and management, which contributed to a reduction of 462.5 tons in carbon dioxide emissions. Additionally, the Bank extended its collaboration with the LOYAC Foundation to continue developing programs and events that empower youth, foster entrepreneurship, and promote environmental responsibility. The report highlighted that the Bank continues to actively use its social media channels to educate customers on a wide range of topics. In 2024, NBK issued 2,320 social media posts and 42 press releases to boost customer awareness of banking products and services. The report also emphasized the Bank's ongoing strong support and participation in CBK's 'Let's Be Aware' campaign, which aims to promote financial literacy across all segments of society. A customer satisfaction rate of 90 percent was highlighted in the 2024 report, underscoring NBK's ongoing efforts to enhance its services and products, introduce innovative solutions, and solidify its standing as a leader in the banking sector. Agreements & partnerships The report highlighted NBK's participation in the 2024 Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Baku, Azerbaijan, underscoring the Bank's commitment to supporting the transition to a sustainable, low-carbon economy in alignment with Kuwait's comprehensive sustainability vision and global climate action efforts. It also noted NBK's involvement in the sixteenth session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD) that took place in Riyadh, Saudi Arabia, where global strategies to address desertification and land degradation were discussed. 1. NBK becomes the first bank in Kuwait to join the PCAF initiative to support greenhouse gas emissions reduction 2. First Kuwaiti financial institution to issue green bonds 3. Developed and began implementing an Environmental and Social Risk Management (ESRM) framework 4. Introduced a sustainable procurement strategy and updated its supplier code of conduct 5. Published first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework 6. Launched Diversity, Equity and Inclusion (DE&I) Statement to reinforce equal opportunities in the workplace 7. Measuring financed emissions under Scope 3 leads to better manage the climate impact of its lending portfolio 8. Sustainable assets reached US$4.97 billion, nearly 50% of the Bank's 2030 target 9. Provided US$2.52 billion in sustainable loans in 2024 to clients with positive environmental or social impact 10. Achieved a 28.3% reduction in total GHG emissions compared to the 2021 baseline, subsequently achieving its 2025 interim emissions reduction target 11. Achieved 389,914 kWh in electricity savings and lowered water consumption by 20.85% year-on-year 12. Recycled 86% of total paper consumed in 2024 13. Installed solar panels in 18 branches across Kuwait during the year, with more installations planned in the future. 14. Maintains a national workforce with 78% Kuwaiti employees 15. Women hold 27.4% of senior management roles at the bank 16. Employs 347 STEM professionals, 28.8% of whom are women 17. Contributed KD 30 million in community investments during 2024, reflecting 9% year-on-year growth 18. Engaged with 61 Schools, +32,000 students and +7,200 teachers as part of its Bankee financial literacy program
Business Wire
20-05-2025
- Business
- Business Wire
COPT Defense Declares Second Quarter 2025 Common Dividend
COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) ('COPT Defense' or the 'Company') announced today that its Board of Trustees declared a regular quarterly dividend of $0.305 per common share for the second quarter ending June 30, 2025. The second quarter 2025 dividend represents an annualized amount of $1.22 per share and is payable on July 16, 2025, to shareholders of record on June 30, 2025. In addition, the Company announced the publishing of its eleventh annual Corporate Sustainability Report, along with its fourth annual Task Force on Climate-Related Financial Disclosures ('TCFD') Report. Both reports are available in the 'Sustainability' section of COPT Defense's Investor Relations website ( and as follows: 2025 Corporate Sustainability Report: 2025 TCFD Report: About COPT Defense COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government ('USG') defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. As of March 31, 2025, the Company's Defense/IT Portfolio of 198 properties, including 24 owned through unconsolidated joint ventures, encompassed 22.6 million square feet and was 96.6% leased. Forward-Looking Information This press release may contain 'forward-looking' statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company's current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as 'may,' 'will,' 'should,' 'could,' 'believe,' 'anticipate,' 'expect,' 'estimate,' 'plan' or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements. The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2024. Source: COPT Defense Properties
Yahoo
20-05-2025
- Business
- Yahoo
Cytora And AISIX Solutions Inc. Partner To Strengthen Insurers' Capabilities In Managing Wildfire Risk
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2025) - AISIX Solutions Inc., (TSXV: AISX) (OTC Pink: AISXF) (FSE: QT7) ("AISIX" or "the Company"), a climate risk assessment and analytics solutions provider, and Cytora, the digital risk processing platform have partnered to incorporate AISIX's wildfire data into the Cytora platform as of April 30, 2025. The collaboration brings AISIX's wildfire intelligence into the Cytora platform, enabling commercial insurers to access timely data on wildfire risks, at a time when the threat of climate change is a key concern for businesses and new regulations mandate insurance players and their clients to disclose their exposure to climate risk. AISIX provides wildfire data through its model, Wildfire 3.0. This model offers wildfire risk information based on geographic inputs and historical fire activity. The data is delivered via API, enabling real-time access and integration into underwriting systems, and aligns with regulatory climate disclosure frameworks such as TCFD and ISSB. This integration will equip underwriters with insights to evaluate risk across both individual submissions and entire portfolios, improving speed, accuracy and transparency in underwriting decisions. The collaboration with AISIX's the latest integration partnership Cytora has agreed as the insurtech seeks to build one of the world's most comprehensive data ecosystems for insurers. It also follows a period of significant growth for Cytora including agreeing to a major collaboration with Chubb, and the launch of the latest version of its platform earlier this month, which leverages agentic AI to bring a new level of performance and explainability to risk assessment and underwriting processes. Juan de Castro, COO at Cytora, said: "Climate risk factors are increasingly becoming critical components in insurance underwriting. Through our partnership with AISIX, we're making it easier for insurers to embed the latest wildfire insights directly into their workflows, empowering smarter and faster decisions with access to the most advanced data and insights available." Mihalis Belantis, CEO of AISIX Solutions, said: "This partnership with Cytora will give insurers the clarity and foresight needed to make informed, strategic, and sustainable underwriting decisions. As wildfire events increase in frequency and intensity, the ability to quickly assess risk at the asset level is vital. We're delighted to be working together in helping insurers build resilience in an increasingly complex risk environment." For more information about AISIX Solutions Inc. and its climate risk solutions, please visit or follow the Company on X (formerly Twitter) at @AISIXSolutions or on LinkedIn at About Cytora Cytora is an AI-powered platform that enables commercial insurers to process risks with greater efficiency and accuracy. Cytora digitises every incoming risk, augments it with external data sources, evaluates it against multiple rules, including appetite and priority rules, and routes it to downstream systems for automated or manual underwriting About AISIX Solutions Inc. AISIX Solutions Inc., is a climate risk and data-analytics solutions provider trusted by organizations seeking a more predictive future. Leveraging the advancements of artificial intelligence, data analytics, and risk assessment, AISIX Solutions Inc. is on a mission to provide auditable, explainable, and defensible assessments to help businesses and communities protect their property, assets, and infrastructure from wildfire-related risks. By empowering organizations with wildfire risk insights, AISIX Solutions Inc. aims to foster resilience and sustainability in the face of climate change. For further information: Mihalis Belantis, Chief Executive Officer +1 (604) 620-1051 investors@ Forward Looking Statements Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of Canadian securities laws, and is subject to numerous risks, uncertainties, and assumptions, many of which are beyond the Company's control. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information, including the Company's expected product offerings, the functionalities of the AI Climate Risk Consumer Interface and the Company's expected growth opportunities. The forward-looking information in this news release describes the Company's expectations as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, the Company's ability to obtain capital and credit on reasonable terms, the Company's ability to compete and the Company's ability protect its intellectual property rights. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also been assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements contained in this news release represent the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time. Media Contact media@ Investor Relations investors@ Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release To view the source version of this press release, please visit
Time Business News
18-05-2025
- Business
- Time Business News
Top ESG Software to Elevate Your Sustainability Strategy
Environmental, Social, and Governance (ESG) performance is no longer optional—it's a business imperative. Investors, regulators, and consumers are demanding greater transparency and accountability, pushing companies to prioritize sustainability at every level. To meet these growing demands, businesses are turning to top ESG software to track, manage, and report their sustainability performance with accuracy and efficiency. Whether you're aiming for regulatory compliance, stakeholder trust, or long-term value creation, selecting the right ESG software can make a significant difference in your organization's success. ESG software refers to digital platforms that help organizations collect, analyze, manage, and report data related to environmental impact, social responsibility, and governance practices. These platforms integrate with internal systems to pull relevant data, align it with global ESG frameworks (like GRI, SASB, CDP, and TCFD), and generate insightful reports for internal and external stakeholders. As ESG reporting requirements grow more complex, using advanced software tools becomes vital for efficiency, accuracy, and strategic alignment. Global regulations like the EU Corporate Sustainability Reporting Directive (CSRD), the U.S. SEC climate disclosure rule, and other national laws make ESG disclosure mandatory for many companies. Top ESG software ensures you remain compliant with current frameworks and easily adapt to new regulatory changes. Manual ESG reporting is error-prone and inefficient. Leading software automates data collection, validation, and analysis, ensuring accuracy while saving time and resources. The best ESG platforms offer powerful dashboards and analytics that allow companies to understand their ESG performance, set measurable goals, and take proactive steps to improve sustainability efforts. Whether it's investors, customers, employees, or partners—stakeholders want to know a company's true ESG impact. Top-tier ESG software supports transparency through clear, trustworthy, and standardized reporting. When evaluating ESG platforms, consider tools that offer the following essential features: Multi-Framework Support : Ability to generate reports aligned with standards like GRI, SASB, TCFD, and CDP. : Ability to generate reports aligned with standards like GRI, SASB, TCFD, and CDP. Automation : Automated data capture, workflow management, and report generation. : Automated data capture, workflow management, and report generation. Real-Time Dashboards : Interactive views of key ESG metrics to help make faster, smarter decisions. : Interactive views of key ESG metrics to help make faster, smarter decisions. Data Validation & Audit Trails : Ensures integrity and transparency in every stage of the reporting process. : Ensures integrity and transparency in every stage of the reporting process. Scalability : Supports both small enterprises and global organizations as ESG needs grow. : Supports both small enterprises and global organizations as ESG needs grow. Benchmarking & Analytics: Helps you compare performance across time or with industry peers. Top ESG software is valuable across industries and company sizes: Manufacturing : Track emissions, waste, and supply chain sustainability. : Track emissions, waste, and supply chain sustainability. Finance : Improve ESG risk assessments and sustainable investment reporting. : Improve ESG risk assessments and sustainable investment reporting. Healthcare : Measure community impact, diversity, and environmental compliance. : Measure community impact, diversity, and environmental compliance. Retail : Manage ethical sourcing and employee welfare. : Manage ethical sourcing and employee welfare. Technology: Monitor energy usage, digital privacy, and governance structures. Whether you're a startup looking to establish ESG foundations or an enterprise seeking global compliance, the right software provides the backbone for consistent, strategic reporting. If you're searching for a reliable ESG platform, 4seer Technologies offers one of the top ESG software solutions available today. Their product simplifies ESG data collection, ensures alignment with international frameworks, and provides robust analytics to help businesses drive real impact. With user-friendly dashboards, automation, and scalability, it's designed for organizations serious about sustainability leadership. The ESG landscape is evolving rapidly. Here are some trends that are influencing the next generation of ESG platforms: Artificial intelligence and machine learning are making ESG data smarter. Predictive analytics can now forecast sustainability risks and opportunities, helping businesses stay ahead of potential issues. Blockchain is being introduced into ESG reporting for improved transparency and traceability. It ensures that ESG data is tamper-proof and verifiable across the supply chain. More companies are integrating ESG metrics with financial data to provide a holistic view of organizational performance, offering deeper insights to investors and boards. Leading ESG platforms now offer real-time tracking of sustainability metrics, allowing companies to react quickly to issues and adjust strategies on the fly. Before committing to a platform, assess the following: Your ESG goals : Are you looking to improve disclosures, optimize operations, or enhance stakeholder communication? : Are you looking to improve disclosures, optimize operations, or enhance stakeholder communication? Regulatory requirements : Does the software support the frameworks and jurisdictions relevant to your business? : Does the software support the frameworks and jurisdictions relevant to your business? Integration needs : Can it connect with your existing systems (e.g., ERP, HR, finance)? : Can it connect with your existing systems (e.g., ERP, HR, finance)? Ease of use : Is the interface intuitive for all stakeholders involved? : Is the interface intuitive for all stakeholders involved? Customer support: Is there training, onboarding, and ongoing assistance? A tailored approach ensures you select software that supports your long-term sustainability vision. In a world where ESG performance is a critical business metric, choosing the top ESG software can be a game-changer. These platforms not only simplify complex reporting tasks but also empower businesses to operate more responsibly, transparently, and sustainably. By investing in high-quality ESG tools, your organization can ensure compliance, unlock performance insights, and build lasting trust with stakeholders. As the demand for ESG transparency continues to rise, the right software will help you stay ahead and lead with impact. TIME BUSINESS NEWS
Yahoo
15-05-2025
- Business
- Yahoo
First Quantum Publishes 2024 Sustainability Reports
(In United States dollars, except where noted otherwise) TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ('First Quantum' or the 'Company') (TSX: FM) has published its sustainability reports for 2024. The Environment, Social and Governance Report is the Company's primary sustainability report, setting out its sustainability performance. The Company has also published its Task Force on Climate-related Financial Disclosures ('TCFD') aligned Climate Change Report and Tax Transparency and Economic Contributions Report. 'While recent events in Panama and Zambia have presented challenges for the Company, our long-term commitment to the environment and our communities remains unchanged,' said Tristan Pascall, Chief Executive Officer. 'We are focused on pursuing ambitious and tangible decarbonization strategies that support operational efficiency and resilience, productivity and our climate change commitments. At the same time, we continue to deliver strong economic value to our host countries, contributing over $3.5 billion in 2024 alone through taxes, salary and wages, local procurement, and community investment.' First Quantum today released its Climate Change Report, aligned with the recommendations of the TCFD. In light of the current situation in Panama and drought conditions aggravated by El Niño in Zambia, the Company has revised its climate targets. In the current phase of Preservation and Safe Management at Cobre Panamá following the suspension of operations, and a temporary reduction in the availability of renewable power in Zambia due to drought conditions, have impacted the expected timing of delivery of the Company's decarbonization strategy. In response, First Quantum now targets a 50% reduction in absolute Scope 1 and 2 greenhouse gas emissions, as well as the CO₂e intensity of copper production, by 2035. Achieving this goal will depend on increased clarity regarding the situation in Panama, where the power station at Cobre Panamá, when operational, remains the Company's largest single source of emissions. In 2024, the total direct economic contribution by the Company to the countries in which it operates was over $3.5 billion. This included: $800 million in taxes, royalties and other payments to government, $426 million in salaries and wages, $28 million in community investment programs, social outreach and communication, and $2,265 million in supplier spend with nationally registered suppliers. Our cumulative direct contributions to government revenue, such as taxes, royalties, and other payments to government, is over $9.2 billion for the past 8 years. For further information, visit our website at or contact: Bonita To, Director, Investor Relations (416) 361-6400 Toll-free: 1 (888) 688-6577E-Mail: info@ CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATIONCertain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward-looking statements in this news release include statements as to the timing of development, presentation and initiation of the closure plan, the contents thereof and the process for the development thereof; and the requirements to avoid environmental damage at Cobre Panamá during the non-operational phase. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions regarding the ability and willingness of MICI to develop, present and initiate a closure plan and the process, timing and contents thereof; the possibility for environmental damage during the current non-operational phase. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, the ability to receive the timing for the development, presentation and initiation of the closure plan, the contents thereof and the process for the development thereof; the duration of the nonoperational phase at Cobre Panamá; the Government of Panama's management plan for the tailings storage and water treatment facilities at Cobre Panama; the political and social situation in Panamá; potential political, legal, social and environmental challenges; and events generally impacting global economic, political and social stability. There may also be other factors that cause actual results, performance, achievements or events not as anticipated, estimated or intended, including the risks, uncertainties and other factors discussed in the Company's Annual Information Form. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law.
