Kuwait City: As the global financial sector increasingly turns its attention to environmental, social, and governance (ESG) principles, a new Growth Perspective video produced by Oxford Business Group in collaboration with the National Bank of Kuwait (NBK) explores Kuwait's banking sector's commitment to sustainable growth.
Kuwait's leading financial institutions are responding to the pressing issues of our time, including climate change, social inequality and sustainable economic development, by aligning their strategies with international ESG frameworks. The video, titled "Kuwait's banks target sustainable growth," provides a comprehensive overview of how this global trend is playing out within the region.
NBK's forward-thinking approach includes integrating ESG metrics into client credit assessments, with plans to introduce a dedicated ESG section by 2024 to assess clients' environmental impacts comprehensively.
OBG shows how Kuwaiti banks are embracing environmental, social and governance principles to contribute to the sustainable growth of the banking sector. A range of programmes and initiatives, from eco-friendly loans to client advisory services and a sustainable finance framework, are helping corporate clients, individuals, fellow banks and Kuwait as a whole work toward a greener future.
Furthermore, NBK's Sustainable Financing Framework, launched in 2022, highlights the role of finance in addressing environmental and social challenges, positioning Kuwait as a key player in the region's sustainability efforts.
Governance in ESG-related matters is pivotal, with voluntary guidelines driving ESG governance structures across Gulf jurisdictions. Gulf banks are taking proactive measures in risk management, often anticipating regulatory developments and collaborating with industry experts to develop sector-specific ESG frameworks.
Isam Jasem A. Al-Sager, Vice Chairman and Group Chief Executive Officer at NBK stated that they are driven by priorities that transcend traditional banking.
“We recognise that our role extends beyond financial services; it's about shaping a future that is environmentally responsible, socially inclusive, and economically thriving for all. Our focus on ESG principles reflects this commitment, and we are actively working towards a more responsible and sustainable future."
Marc-André de Blois, OBG's Director of Video Content, expressed that this collaboration goes beyond the realms of traditional business partnerships; it's a testament to the proactive commitment of Kuwait's financial institutions to make a meaningful impact.
“Kuwait's financial institutions are actively shaping a future that's grounded in sustainability and responsibility. Their commitment to ESG principles transcends profit margins; it's about fostering a more sustainable and inclusive future for the industry and the communities they serve.
To watch the full video, visit https://oxfordbusinessgroup.com/videos/kuwaits-banks-target-sustainable-growth-media/
About Oxford Business Group
Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world’s fastest-growing markets, termed The Yellow Slice, in reference to OBG’s corporate colour.
Through its range of products - Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions.
OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv’s (previously Thomson Reuters) Eikon subscribers, and more.
For more information, please contact:
Marc-André de Blois
Director of PR and Video Content, Oxford Business Group
802 Publishing Pavilion, Production City
London SW1E 6DT