Boursa Kuwait rings the bell for World Earth Day 2021
Boursa Kuwait rang the bell for World Earth Day, one of the most important environmental initiatives around the world, in collaboration with the UN Environment Programme's Regional Office for West Asia (UNEP) and the Environmental Voluntary Foundation (EVF).
Earth Day is an annual event on April 22 to demonstrate support for environmental protection. First held in 1970, it is now celebrated by more than 193 countries around the world. This year’s theme is “Restore our Earth”, a reminder that the preservation of our planet is not an option but has now become a necessity. Climate change and other environmental degradations have broken our natural systems, which may affect the global economy negatively.
Boursa Kuwait participated in this year’s festivities to raise awareness to this cause as part of its Corporate Sustainability strategy, which aims creating long-term value for the company’s stakeholders in the economic, social and environmental dimensions, while also contributing to the development of Kuwait and its economy as well as creating a meaningful impact on the community in which the bourse operates.
Over the past year, the company launched many initiatives across the three pillars of its strategy in partnership with local and international organizations. These programs and initiatives were focused on financial literacy and capital market awareness, the empowerment of women, support for nongovernmental organizations and volunteer work, safety and preventive measures against Covid-19 including the maintenance of business continuity in the best interests of issuers and investors, as well as environmental protection.
Boursa Kuwait is committed to minimizing its carbon footprint and continually improving environmental management practices to reduce the consumption of energy and other resources. The company undertook several measures to reduce its use of electricity and water, including the implementation of energy-saving electrical products, advanced heating, ventilation, and air conditioning (HVAC) systems, and water-efficient plumbing devices, successfully reducing energy consumption by over one million kilowatts and water consumption by around 85 thousand gallons during 2020. Boursa Kuwait also actively promotes recycling across its operations and encourages employees to adopt environmentally responsible behaviors.
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.