Photo by Shahbaz Hussain Shah
Author: Naser AlSanousi, Marketing and Communication Senior Director, Boursa Kuwait
July 19, 2022
Sustainability is a vital part of any business, and especially so for us at Boursa Kuwait. Corporate sustainability is fundamental to our long-term success, in terms of the strength and growth of our business and people, as well as the overall contribution toward the development of Kuwait’s economy, in line with the ‘New Kuwait 2035’ vision and the National Development Plan for the State of Kuwait.
As the operator of the country’s stock exchange, Boursa Kuwait can play a crucial role in achieving the overarching objectives of the nation’s ambitious roadmap by promoting and advancing corporate sustainability practices in capital markets and by creating an investment climate that can attract capital and encourage sustainable investments.
Our commitment to corporate sustainability ensures that we continue to make important contributions across our three core pillars – education, community and environment – to position our business and our nation for strong and sustainable growth.
The education pillar envisions a robust capital market ecosystem where all stakeholders are fully equipped with the knowledge and skills required to be an active player in the nation’s capital market, while the community pillar embodies Boursa Kuwait’s commitment to giving back to the community.
Meanwhile, Boursa Kuwait’s initiatives in its environment pillar ensures that the company recognises that its operations have an impact on the environment and acknowledges that addressing environmental issues is a collective responsibility shared by every member of the community.
With the focus on sustainable operations and investments being in higher demand than ever before, Boursa Kuwait has accelerated its push towards sustainability in the advent of the COVID-19 pandemic, which has created a sense of urgency and awareness throughout the world, and proved that many of the scenarios that we thought impossible can become reality. We need to act now – and together – to address challenges like climate change, social inequality, and geopolitical turmoil.
The pandemic has undoubtedly altered many of our approaches towards life in general, leaving behind wide-ranging and far-reaching impacts and challenges on individuals, businesses, communities and countries. As an organisation, Boursa Kuwait continues to embrace these challenges in the best way possible so that it can make positive steps forward and continue to deliver on its objectives.
Our people represent one of our greatest assets and a key driving force behind our evolution and success
Throughout this unprecedented period, Boursa Kuwait reinforced its central role in the community by acting to protect the health and well-being of our diverse stakeholders. We worked to ensure a safe and healthy environment for our employees, customers and visitors, while simultaneously maintaining business continuity in the best interests of our issuers and investors.
The company continued to collaborate with international organisations to accomplish its community pillar goals. The company’s support of the UNHCR, the UN refugee agency and its mandate, resulted in a greater public image and a stronger reputation, while aiding 3.3 million Syrian and Iraqi internally displaced people (IDPs) and refugees.
Adopting the cause of fighting discrimination and supporting equal opportunities for women, we signed the Women’s Empowerment Principles (WEPs) ‘Statement of Support’ in 2019 and the exchange’s ongoing support of the WEPs helps deliver on the critical role businesses can play in the attainment of the UN Sustainable Development Goals outlined in the Agenda 2030.
Supporting and promoting local talent development is another focus area. We continue to take part in career fairs and provide opportunities for graduates and experienced professionals to join high-profile projects and participate in the development of the country’s economy. Our people represent one of our greatest assets and a key driving force behind our evolution and success. By maintaining a safe and equitable working environment that is increasingly based on commitment and appreciation, we aim to consolidate Boursa Kuwait’s position as an employer of choice in Kuwait, supporting an increasingly diverse and dynamic workforce.
As we continue working through these unprecedented times, we are constantly finding new ways to better serve our various stakeholders, while keeping the health and safety of our employees and all market participants at the forefront of what we do.
Committed to community
Since its inception, Boursa Kuwait has been committed to its responsibility towards the community and its employees, adopting a policy designed and implemented to achieve our business objectives, support our stakeholders and contribute to the development of the Kuwaiti economy. The company recognises that it has a critically important role in the global transition to more sustainable economies. As companies continue striving to stay ahead through research, development and innovation, we have made it part of our strategy to ensure that the market, as well as all its participants including Boursa Kuwait, continue to stay up to date with the latest developments in capital markets worldwide.
Studies have shown that investment portfolios that have divested from environmentally harmful companies have outperformed their benchmarks, and that sustainability and climate-integrated portfolios can provide better risk-adjusted returns to investors. As such, we continue to stress to our various stakeholders that sustainable investing is the strongest foundation for running a successful business going forward. In the current investment climate, adopting sustainable principles is not just the right thing to do. As its impact on investment returns increases, sustainability may lead to better outcomes for your business.