Boursa Kuwait Posted
Reaffirming its commitment to contributing to the Kuwait National Development Plan, New Kuwait 2035, Boursa Kuwait 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.
At the end of 2017, Boursa Kuwait made a formal commitment to drive Corporate Sustainability in financial markets by becoming a member of the United Nations-led Sustainable Stock Exchanges (SSE) initiative, a platform for the exchange of experience and knowledge that helps broaden the collaborations between exchanges and all market participants.
Building on that initiative, Boursa Kuwait created a comprehensive guide to encourage market participants to take the first step in the ESG universe and understand the different ways of reporting and its importance, the growth of Corporate Sustainability, as well as what areas to report on. An understanding of these key areas will in return help companies increase transparency and improve on ESG endeavors.
This guide will include recommended sustainability metrics and a set of indicators that will assist market participants understand where they currently stand as well as how to improve and set future goals. Furthermore, the recommended sustainability metrics include indicators that are simultaneously corresponding with the United Nations Sustainable Development Goals (SDGs), the Global Reporting Initiative (GRI), and the pillars of Kuwait’s 2035 Vision.
Boursa Kuwait recognizes that adopting performance and disclosure best practices in regards to Corporate Sustainability will be unique to each company based on its own business model and sector.
Listed issuers may choose to look beyond this guide and explore comprehensive reporting frameworks or guidelines, such as the Global Reporting Initiative (GRI) or the Integrated Reporting (IR) framework.