Boursa Kuwait Revamps Building Facilities And Installs Energy-efficient Utilities Including Full Color Led Video Walls And Ticker Displays

Press release
Published July 7th, 2021 - 10:54 GMT
Boursa Kuwait Revamps Building Facilities And Installs Energy-efficient Utilities Including Full Color Led Video Walls And Ticker Displays
Boursa Kuwait put into effect a plan that entails the revamp of the building’s facilities and utilities.

In an effort to maintain and upgrade the facilities and utilities of the building while ensuring that the renovation is in-line with the company’s Corporate Sustainability (CS) strategy, Boursa Kuwait put into effect a plan that entails the revamp of the building’s facilities and utilities. As part of the plan, which has been in effect since June 2021, the trading hall and several of the building’s facilities will be closed until further notice.

Currently, the old trading data video tri-color wall screens and tickers, which were installed in 2005, have been removed from the trading floor and other locations inside the building and on its facades. New specialized energy-efficient full color LED video walls and ticker displays that keep pace with the latest technologies will be installed to provide greater possibilities for broadcasting content and contribute to improving the overall trading experience for investors. The new screens will reduce energy consumption by more than 50% in comparison to the old screens.

The project also includes an upgrade to various utilities across the premises, such as the elevators, the escalators, and the heating ventilation and air condition systems (HVAC) and air diffusers. This upgrade will reduce energy consumption by more than 20%. 

The project also includes Boursa Kuwait’s intention to cooperate with a specialized organization to manage the recycling of the discarded wall screens and utilities to reduce the environmental impact of its operations, reinforcing the company’s position as a socially responsible institution that operates in line with the sustainable development goals of the United Nations.

Commenting on this, Naser M. Al-Sanousi, Director of Marketing and Corporate Communications at Boursa Kuwait, said, “We take pride in our commitment to sustainability and take the necessary action to ensure that Boursa Kuwait reduces its environmental footprint by keeping sustainability at the heart of everything we do. Over the years, we have adopted various initiatives that highlight the importance of sustainability amongst corporations. Through this project, we reflect our support to the twelfth goal of the United Nations Sustainable Development Goals on responsible consumption and production.”

The Boursa Kuwait revamps will also feature a designated “Ring the Bell” platform, with a mechanical brass bell that has been manufactured specifically for the exchange and engraved with patterns inspired by the Kuwaiti Sadu traditional weaving. The platform will be dedicated to Corporate Social Responsibility (CSR) events to raise awareness on environmental and social causes in addition to listing events and other corporate proceedings. Overlooking the bell-ringing platform will be a fully equipped media hall to cover CSR and media related events such as press conferences and televised interviews.

As part of the renovations, the auditorium and training hall will be equipped with the latest audio and video technology to host myriad training seminars and financial literacy programs, in collaboration with specialized local and international companies. This is in line with Boursa Kuwait’s commitment to raising financial literacy and increasing capital market awareness in the State of Kuwait as part of the Education pillar of its CS strategy, and corresponds with Goal 4 of the UN’s Sustainable Development Goals of achieving inclusive and quality education for all.

Boursa Kuwait’s corporate sustainability strategy stipulates that the initiatives taken on by the company are to be compatible with its CSR governance, best practices as per sector standards, and investors’ expectations. It also specifies the establishment of strong and sustainable partnerships with companies that support Boursa Kuwait’s overall success and allow it to benefit from the strengths and capabilities of those partners with expertise in different areas. It also aims to integrate the CSR efforts of those companies with that of Boursa Kuwait’s culture, to achieve long term impact and instill those values within the day-to-day operations of the exchange.

Background Information

Boursa Kuwait

Boursa Kuwait was founded on April 21st, 2014 by the Capital Markets Authority Commissioners’ Council Resolution No. 37/2013 dated 20th November, 2013 and the Capital Markets Authority Law No. 7/2010. In addition to being primarily responsible for regulating all aspects of the Kuwaiti capital market, the Capital Markets Authority also has full ownership of Boursa Kuwait, which manages the exchange operations. Boursa Kuwait is responsible for introducing new trading rules, risk management practices, price discovery mechanisms and new technology to ensure that Boursa Kuwait is as robust and secure as possible. The establishment of Boursa Kuwait marked the first step in privatizing the Kuwaiti Stock Exchange, which was founded in 1983. 

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