Kuwait: Boursa Kuwait lit its building in blue to highlight the role of the youth in climate action during United Nations Day 2021, in collaboration with the United Nations, the United Nations Development Programme (UNDP) and the Environmental Voluntary Foundation (EVF).

United Nations Day takes place around the world on October 24th of every year, with an aim to highlight the role of the United Nations in achieving the Sustainable Development Goals (SDGs) and the key role the agency’s partners play to support these goals, with this year’s theme being “Youth Driving Ambition 4 Climate Action”. In addition to the Boursa Kuwait building, several other buildings across Kuwait and around the world will be adorned with blue lights.

Commenting on the initiative, Boursa Kuwait’s Marketing and Communication Senior Director, Mr. Naser M. Al-Sanousi, said, “Boursa Kuwait is proud of its many strategic partnerships that serve the environment and the community with several UN agencies like the United Nations Development Programme, UN Women, the United Nations High Commission for Refugees, and the United Nations Environment Program. The company promotes voluntary work for the environment and the community and its adoption. We have recently worked with the UNDP to organize workshops for listed companies to improve their sustainability and encourage best in class disclosure policies and practices in ESG reporting and implementation.

In keeping with its commitment to the support and promotion of responsible, sustainable and impactful business practices, Boursa Kuwait partnered with the UNDP to organize a workshop around the standards, practices and tools for ensuring the impactful implementation and reporting of Environmental, Social and Governance (ESG) principles as well as the importance of integrating them with the United Nations’ SDGs and into business operations, which was attended by over 40 representatives from various listed companies.

Al-Sanousi added, “Since 2017, Boursa Kuwait has been a member of the United Nations’ Sustainable Stock Exchange initiative, making a formal commitment to the sustainability of listed companies and their operations. The company has developed an ESG Reporting Guide that aims to support listed companies to report on Environmental, Social, and Governance (ESG) issues, and to meet the growing needs of various stakeholders, including investors, customers, suppliers, and regulators for transparent and regular information as well as sponsoring a variety of green initiatives to preserve our natural environment, acting as a catalyst for positive, environmental change by seeking strategic partnerships and launching initiatives that limit environmental impact, as part of our Corporate Sustainability strategy, in line with the United Nations’ Sustainable Development Goals.”

Mr. Khaled M. Shahwan, the Deputy Resident Representative at UNDP Kuwait, also spoke on this occasion, saying, “I am honored to be celebrating UN Day 2022 at Boursa Kuwait. I’m also pleased about the partnership between the UNDP and Boursa Kuwait and our collaboration on the various initiatives related to sustainable investments as well as the importance of integrating ESG criteria into their business models and investment decisions, which is beneficial to companies’ bottom lines and has a positive impact in achieving the SDGs as well as the national development plan of Kuwait and the “New Kuwait 2035” vision.”

Boursa Kuwait took this opportunity to reinforce its partnership with the EVF and the Kuwait Dive Team in association with the UNEP, sponsoring the 2022 National Campaign to Remove Hazardous Waste from the Kuwait Bay and its Beaches and supporting the Dive Team’s efforts for the preservation of Kuwait’s marine environment.

Al-Sanousi hailed the efforts of the Kuwait Dive Team and the EVF, saying: “I would like announce that we are continuing our support, in collaboration with the UNEP, of the EVF and the Kuwait Dive Team, which is composed of a group of Kuwaiti volunteers, sponsoring the National Campaign to Remove Hazardous Waste from the Kuwait Bay and its Beaches for the second consecutive year.”

The Kuwait Dive Team’s International Relations Officer, Dr. Dari Alhuwail, welcomed Boursa Kuwait’s support of the Team’s many environmental initiatives, saying “On United Nations Day, held this year under the theme of “Youth Driving Ambition 4 Climate Action”, we are delighted for the support and sponsorship from Boursa Kuwait and the UNEP. The exchange has sponsored many of our many environmental programs and initiatives that are in line with the Sustainable Development Goals. These include the Boursa Boat that helps preserve the marine environment, specifically in Kuwait Bay, as well as many other programs that aim to protect and rehabilitate the marine environment across Kuwait and raise awareness to its importance and the need to keep it safe. We hope this support continues for many years to come.”

Since 2020, Boursa Kuwait has been collaborating with the UN Environment Programme and the Kuwait Dive Team - under the umbrella of the Environmental Voluntary Foundation (EVF), for the preservation of marine life in and around the Kuwait Bay, one of the richest, most diverse ecosystems in the Gulf and a key contributor to the Kuwaiti economy.

In 2021, Boursa Kuwait’s activities with the Kuwait Dive Team resulted in the removal of over 130 tons of various waste from the Bay by the Boursa Boat. These trips included a 104-ton clearing of hazardous waste from beaches and islands, in collaboration with government institutions; 38 trips to clear 20 tons of fishing nets; and eight operations to remove wrecked ships and boats, with the combined weight of eight tons.

The UN Day initiative forms part of Boursa Kuwait’s efforts to create a lasting meaningful impact on the communities where it operates as part of its Corporate Sustainability strategy and is in line with Goal 13 – Climate Action – and Goal 17 – Partnership for the Goals - of the UN’s Sustainable Development Goals (SDGs) as well as the National Development Plan for the State of Kuwait, “New Kuwait 2035”.

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.

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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.