Kuwait City: Boursa Kuwait continued its impressive record of awards and recognition for its exceptional achievements in corporate sustainability and environmental, social and governance (ESG) implementation and reporting, receiving six awards from several prestigious international publications. The awards included the ‘Best in Sustainability Transparency' award from Global Finance magazine as well as the 'Best Sustainable Corporate Governance’ and 'Best ESG Development Strategy' awards from The European magazine. Additionally, the exchange received the 'Outstanding Contribution to Women's Empowerment in the Middle East and North Africa 2023' award, the 'Best Capital Market ESG Strategy – GCC’ award, and the 'Outstanding Contribution to Financial Inclusion -GCC 2023' award from Capital Finance International (CFI) magazine. 

These awards demonstrate Boursa Kuwait’s commitment to adopting initiatives in the field of corporate sustainability and raising awareness about their disclosure and reporting as it strives to embed ESG concepts in its operations, within the wider Kuwaiti capital market as well as other markets in the region, as it recognizes the importance of being a role model for other listed companies and companies in Kuwait’s private sector.

These awards also signify that the Kuwaiti stock exchange is cognizant of its responsibilities on the social and environmental levels, the two pillars of its Corporate Sustainability (CS) strategy, and its strategic mandate to make a long-lasting, positive impact in the community in which it operates.  

Best in Sustainability Transparency

Boursa Kuwait strives to adopt the highest standards of credibility and transparency by disseminating accurate and timely information and disclosures about the company, which has a significant impact on enhancing investor confidence. As one of the model issuers in the Kuwaiti capital market, the company is committed to adopting the best-in-class practices of this field, recognizing the essential role that ESG metrics as well as their implementation and disclosure play in the financial landscape. Since 2021, the company has issued a corporate sustainability report and adopted a globally recognized mechanism for ESG reporting." 

Best ESG Development Strategy

As a result of its commitment and ongoing efforts to develop its ESG implementation and reporting mechanisms, Boursa Kuwait has been recognized in 2023 as the company with the “Best ESG Development Strategy”. Since its establishment, the bourse has been keen on adopting the best-in-class standards and practices in ESG, which are aligned with its progressive CS strategy designed to ensure a solid foundation for its myriad programs and initiatives in this nascent field. This strategy has enabled Boursa Kuwait to become one of the earliest adopters of ESG in the Kuwaiti financial scene in general and among listed companies in particular. The exchange has been formally committed to promoting the concepts of corporate sustainability within capital markets since it joined the United Nations-led Sustainable Stock Exchanges initiative as a supporting partner in 2017.

Best Sustainable Corporate Governance

Boursa Kuwait received the award for “Best Sustainable Corporate Governance” in recognition of its achievements in corporate governance that are aligned with the company’s overarching mission, vision and strategic objectives. This stems from the Kuwaiti stock exchange’s stern belief that adhering to the best-in-class standards and practices of governance is essential to ensuring the sustainability of its operations. Boursa Kuwait has been keen, since its establishment, to develop a capital market apparatus built on fairness, objectivity and transparency as it aims to protect the interests of its various stakeholders, including shareholders, investors, listed companies and licensed firms.

Corporate governance forms the foundation of the company’s sustainable economic growth, building stakeholder trust and strengthening the capital market by being accountable and responsible. The company's organizational structure is designed flexibly to align with its long-term strategy, effectively supporting the board of directors and executive management in achieving the company's vision and strategy. Furthermore, Boursa Kuwait has adopted the highest standards of disclosure and transparency, enhancing and improving operational performance, social responsibility, protecting shareholders and their rights, promoting professional conduct and ethics, managing transactions with related parties as well as implementing policies and procedures for effective whistleblowing and reporting conflicts of interest. 

Outstanding Contribution to Female Empowerment MENA 2023

Boursa Kuwait was recognized for its exceptional contribution to female empowerment, reflecting its commitment to gender diversity and inclusion within capital markets. Over the past few years, the company has implemented various initiatives aimed at supporting and promoting the role of women in the financial sector, including targeted training programs, mentorship opportunities, and policies that encourage female participation at all levels of the organization. Its efforts are part of a broader strategy to foster a more inclusive workplace and empower women to take on leadership roles, advocating for gender equality, providing platforms for women to excel and contributing to the socio-economic development of the region.

Best Capital Market ESG Strategy GCC 2023

Boursa Kuwait is dedicated to advancing sustainable practices within the local capital market, fostering an investment climate that attracts and nurtures sustainable investments. Central to its Corporate Sustainability strategy are the two pillars of Community and Environment.

The Community pillar highlights the company's commitment to social responsibility and ensures that all stakeholders are equipped with the essential knowledge and skills to make sound investment decisions while the Environment pillar focuses on minimizing the adverse impact of operations and promoting best practices for environmental preservation.

Additionally, Boursa Kuwait obtained the LEED Gold certification for its building in 2023, a distinguished award that makes the iconic structure one of only a few buildings in Kuwait to achieve this honor. The certification is a testament to Boursa Kuwait’s commitment to operational excellence and its leadership in driving positive change within the financial industry and contributing to a more sustainable world.

Boursa Kuwait attracts a diverse range of participants and investments to the Kuwaiti capital market by fostering an investment environment that prioritizes sustainability, with education programs and community initiatives that ensure that its stakeholders are well-informed and engaged in sustainable practices.

Outstanding Contribution to Financial Inclusion GCC 2023

Boursa Kuwait has significantly contributed to enhancing financial inclusion within the GCC region through its strategic initiatives that contribute to the development of a robust and inclusive capital market. By providing access to a wide range of investment opportunities and promoting financial literacy, Boursa Kuwait ensures that a variety of participants can engage effectively in the Kuwaiti capital market. The company's focus on transparency and regulatory enhancements further supports investor confidence and market integrity and its workshops and educational programs play a crucial role in empowering local and regional investors with the knowledge necessary for informed decision-making.

Boursa Kuwait's proactive approach to financial inclusion demonstrates its commitment to building a more inclusive financial ecosystem, facilitating access to financial markets and enhancing market participation to bridge the gap between different economic segments. This comprehensive approach to financial inclusion has set a benchmark in the region, highlighting Boursa Kuwait’s leadership in driving financial inclusion and exemplifying its dedication to fostering an inclusive financial environment through continuous efforts to raise the awareness and skills of its market participants as well as increase the transparency and accessibility of the Kuwaiti capital market.

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.

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.

As a trusted and respected entity within the global financial community, Boursa Kuwait continues to pave the way for sustainable growth and exemplify the power of responsible business practices. Through its unwavering dedication, Boursa Kuwait plays a crucial role in shaping a brighter and more sustainable future for Kuwait and beyond.