Kuwait City: Global Business Outlook magazine announced on its website that Boursa Kuwait is the recipient of the “Most Sustainable Practices in ESG” award for 2022, increasing the exchange’s prizes for the year to three, after it was awarded “Sustainable Stock Exchange of the Year in the Middle East” by Pan Finance and “Most Sustainable Company in the Financial Services Industry” by World Finance.
The Global Business Outlook Awards seek to recognize and reward excellence in businesses around the world and are designed to facilitate the outstanding work of businesses and business leaders across industries. The magazine hailed the sustainability of the Kuwaiti capital market and described the exchange as a model issuer and a company that has adopted and followed the best standards and practices in its operations, as well as being a key cog in the adaptability and sustainability of Kuwait’s capital market.
Boursa Kuwait’s awards are a key indicator of the company’s commitment and constant efforts to develop and enhance its operations, specifically in the area of Environmental, Social and Governance (ESG) reporting and implementation, as the company has continued to build on its award-winning 2021, when it garnered five awards, including “Sustainable Stock Exchange of the Year in the Middle East for 2021” by Pan Finance.
At the end of 2021, Boursa Kuwait published its ESG Reporting Guide, which helps support listed companies to report on Environmental, Social, and Governance issues, and to meet the growing needs of various stakeholders, including investors, customers, suppliers, and regulators for transparent and regular information.
The company continues to find new ways to better serve our various stakeholders and ensure that the country’s capital market is run efficiently and with efficacy, while keeping the health and safety of our employees and all market participants at the forefront of what it does.
Additionally, and as part of its commitment to implement its Corporate Sustainability strategy, the company published its first standalone Sustainability Report, which detailed its strategy, partnerships, and initiatives in the field of ESG reporting and implementation for the year 2021.
Boursa Kuwait continually strives to ensure that it is committed to the sustainable development of the community in which it operates, adopting a comprehensive Corporate Sustainability (CS) strategy built on the three pillars of Education, Community and the Environment. With a view to creating long-term value for the company’s stakeholders in the economic, social and environmental dimensions and ensuring that all corporate social responsibility (CSR) initiatives are aligned with its sustainability objectives,
The company has put in place a three-phased strategy to align, create and integrate as well as ensuring that its 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.
As part of the strategy, 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, as well as 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 regionally and globally, as well as transform Kuwait into a regional and global investment destination, by 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.
ABOUT BOURSA KUWAIT
Since it was established by the Capital Markets Authority to take over the responsibilities of the Kuwait Stock Exchange in 2014, Boursa Kuwait has worked diligently to build a progressive exchange platform based on efficiency and transparency, with a view to creating long-term value for the company’s stakeholders in the economic, social and environmental dimensions.
Guided by a mission-driven strategy that focuses on developing the market in line with international standards, Boursa Kuwait has successfully introduced innovative investment tools, reinforced transparency, and restructured the market to increase its competitiveness and liquidity. The company’s market developments and enhancements have contributed to the reclassification of the Kuwaiti capital market to “Emerging Market” status in the world’s top three indices, strengthening Kuwait’s position as a leading financial center in the region. A self-listed exchange, Boursa Kuwait is the first government entity in the country to successfully undergo privatization.
For more information about Boursa Kuwait’s initiatives and its latest developments, please visit www.boursakuwait.com.