Boursa Kuwait sheds light on its ESG commitments and achievements in second Sustainability Report

Press release
Published April 18th, 2023 - 05:52 GMT
Boursa Kuwait sheds light on its ESG commitments and achievements in second Sustainability Report
Report outlines the company’s vision for a more sustainable capital market that thrives on liquidity, efficiency and transparency

Boursa Kuwait published its second standalone Sustainability Report, demonstrating the company’s ongoing commitment to reporting environmental, social and governance (ESG) principles and their adoption in its operations and the wider Kuwaiti capital market. In line with the objectives of its Corporate Sustainability (CS) strategy, the report highlights Boursa Kuwait’s strategy, partnerships and initiatives in ESG reporting and implementation for the year 2022. 

The Report includes ESG metrics and measurements for the activities, management and operations of Boursa Kuwait, with analysis of their economic, social and environmental impacts. It also highlights the company's achievements in the areas of ESG reporting and implementation as well as its efforts to achieve added value for shareholders, customers, partners and various other stakeholders, in line with the United Nations Sustainability Development Goals (SDGs), the Global Reporting Initiative (GRI) as well as the “New Kuwait 2035” vision and the national development plan of the State of Kuwait. 

Mr. Mohammad Saud Al-Osaimi, CEO of Boursa Kuwait, commented on the release, saying, “Boursa Kuwait has a mission to develop a strong and efficient financial market that fosters liquidity and transparency, empowering the Kuwaiti economy and enabling market participants to achieve sustainable growth. The company understands its role in the global movement towards sustainability and is committed to demonstrating that role in order to achieve a more sustainable future.”

Boursa Kuwait has been a champion of Corporate Sustainability since its establishment, making a formal commitment to sustainability when it joined the United Nations-led Sustainable Stock Exchanges Initiative as a partner and supporter in 2017. The company has also garnered numerous awards from prestigious organizations and publications in the field of sustainability and ESG for its efforts over the past two years. 

Boursa Kuwait’s Corporate Sustainability strategy stipulates ensuring initiatives apply and fall in line with the company’s corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, in order to achieve longevity and an ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange.

Boursa Kuwait has launched many initiatives in partnership with local and international organizations, focusing on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women, and environmental protection. 

Since its inception, Boursa Kuwait has implemented many steps in accordance with international practices and standards to enhance the position of the exchange locally, regionally and internationally as well as transform Kuwait into a regional and global investment destination, focusing on creating an attractive issuer base and broadening its investor base, increasing the depth and breadth of its products, as well as upgrading its infrastructure and business environment to international standards.

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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