Boursa Kuwait lit up its construction in blue to highlight the role of young people in climate action on UN Day 2021, in collaboration with the United Nations, the United Nations Development Programme (UNDP) and the Environmental Voluntary Foundation (EVF).
In line with its commitment to promoting responsible, sustainable and impactful business practices, Boursa Koweït partnered with UNDP to organize a workshop on standards, practices and equipment to ensure impactful Environmental, Social and Governance (ESG) implementation and reporting as well as the importance of integrating them into the UN SDGs and into business operations, in which more than 40 representatives of various indexed corporations participated.
Al-Sanousi added: “Since 2017, Boursa Kuwait has been a member of the United Nations Sustainable Exreplace initiative, officially committing to the sustainability of indexed companies and their operations. The company has developed an ESG reporting consultant that aims to help indexed companies report on environmental, social and governance (ESG) issues and meet the developing desires of stakeholders by adding investors, customers, suppliers and regulators for transparent and normal reporting, as well as sponsoring a variety of green projects to maintain our herbal environment, acting as a catalyst for positive environmental replenishment through the search for strategic alliances and the launch of projects that restrict environmental impact, as part of our corporate sustainability strategy, in line with the United Nations Sustainable Development Goals.
Mr. Khaled M. Shahwan, UNDP Deputy Resident Representative in Kuwait, also addressed the occasion and said, “I am honoured to celebrate UN Day 2022 in Boursa Kuwait. I also welcome the partnership between UNDP and Boursa Kuwait and our collaboration on the various projects similar to sustainable investments, as well as the importance of integrating ESG criteria into their business models and investment decisions, which is good for business performance and has a positive impact on the achievement of the SDGs and Kuwait’s national progress. and the “New Kuwait 2035” vision.
Boursa Kuwait took the opportunity of its partnership with EVF and Kuwait Dive Team in an agreement with UNEP, sponsoring the 2022 National Campaign to Eliminate Hazardous Waste from Kuwait Bay and its beaches and supporting the diving team’s efforts for the preservation of Kuwait’s marine environment. .
Al-Sanousi praised the efforts of Kuwait Dive Team and EVF and said: “I would like to announce that we continue our support, in collaboration with UNEP, to EVF and Kuwait Dive Team, which is composed of an organization of Kuwaiti Volunteers, sponsoring the national crusade against hazardous waste from Kuwait Bay and its beaches for the time being for the year in a row.
The head of external relations of the Kuwait diving team, Dr. Dari Alhuwail, praised Boursa Kuwait for the team’s many environmental projects: for the sponsorship of Boursa Kuwait and UNEP. The exchange sponsored many of our many environmental systems and projects that are aligned with the Sustainable Development Goals. These come with the Boursa boat that is helping to maintain the marine environment, especially in Kuwait Bay, as well as many other systems aimed at protecting and rehabilitating the marine environment in Kuwait and raising awareness about its importance and need. to protect it. We hope this will continue for many years to come.
Since 2020, Boursa Kuwait participates with the United Nations Environment Programme and Kuwait Diving Team, under the umbrella of the Environmental Voluntary Foundation (EVF), for the preservation of marine life in Kuwait Bay and its surroundings, one of the richest, most varied ecosystems in the Gulf and a key contributor to the Kuwaiti economy.
In 2021, Boursa Kuwait’s activities with Kuwait Dive Team enabled the evacuation of more than 130 tons of waste from the Bay via the Boursa Boat. These trips included the cleanup of 104 tons of hazardous waste from beaches and islands, in collaboration with government institutions; 38 trips to transparent 20 tonnes of fishing nets; and 8 ship and shipwreck removal operations, with a combined 8-ton W8.
The United Nations Day initiative is part of Boursa Kuwait’s efforts to create a meaningful and lasting impact on the communities where it operates as part of its corporate sustainability strategy and is in line with Goal Thirteen – Climate Action – and Goal 17 – Partnership for Goals: of the UN Sustainable Development Goals (SDGs), as well as the National Development Plan of the State of Kuwait, “New Kuwait 2035”.
Boursa Kuwait’s Corporate Sustainability Strategy states that projects apply and are in line with Corporate Social Responsibility (CSR), industry criteria for smart practices and investor expectations, creating strong and lasting partnerships that ultimately lead to smart fortune and allow Boursa Kuwait to take advantage of the features. and strengths. Other corporations or organizations that have reveled in other fields, and integrate sustainability efforts into corporate culture, to achieve a certain longevity and an uninterrupted effect that is perpetuated and instilled in the daily operations of the Exchange.
As a component of this strategy, Boursa Kuwait has introduced projects in collaboration with local and foreign organizations, focusing on support for non-governmental organizations and charitable programmes, monetary education and capital market awareness, women’s empowerment and environmental protection.
Boursa Kuwait was founded on 21 April 2014 through Resolution No. 37/2013 of the Board of Supervisors of the Capital Markets Authority of 20 November 2013 and Law No. 7/2010 of the Capital Markets Authority. In addition to being primarily guilty in regulating all facets of Kuwait’s capital market, the Capital Markets Authority also owns full ownership of Boursa Kuwait, which manages foreign exchange operations. Boursa Kuwait is guilty of introducing new business rules, threat control practices, value discovery mechanisms and new technologies to make Boursa Kuwait physically as powerful and secure as possible. The creation of Boursa Kuwait marked the first step in the privatization of the Kuwait Stock Exchange, founded in 1983.
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