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Governance For Resilience
Governance
For Resilience
'Governance For Resilience' outlines NBK's commitment to the highest standards of transparency and accountability through embedding ESG across the group. Building on its foundations of corporate governance and systemic risk management, NBK aims to integrate ESG standards into its corporate culture, managerial practices and operations.
Our ESG
Governance Model
At NBK, we developed dedicated committees responsible for monitoring the progress of our emissions reduction initiatives, establishing ESG governance and climate risk management controls across operations and portfolios, cultivating an ESG culture across the Bank, maximizing social impact and community engagement, as well as evaluating and endorsing all new proposed use of proceeds of sustainable bonds and other sustainable finance transactions. The ESG governance structure is supported with direct board oversight.
Our International
Commitments
We uphold global partnerships and align with international standards to maximize sustainable progress.
Find out more about each partnership, framework and initiative.
New Kuwait
NBK supports and aligns with the Kuwait National Development Plan: New Kuwait Vision 2035.
Sustainable Development Goals
NBK aligns its ESG Strategy and sustainability approach with the United Nations Sustainable Development Goals (UN SDGs) of 2030.
Global Reporting Initiative (GRI)
NBK reports on its environmental, social and governance progress in line with the Global Reporting Initiative.
Greenhouse Gas Protocol
NBK adopts and aligns with the Greenhouse Gas Protocol global framework for measuring and disclosing environmental impact from operations.
Partnership For Carbon Accounting Financials (PCAF)
NBK is a signatory of the Partnership for Carbon Accounting Financials (PCAF), supporting global efforts for measuring and mitigating emissions associated with financing activities.
Sustainability Accounting Standards Board (SASB)
NBK reports against the Sustainability Accounting Standards Board (SASB) to identify material issues for the banking industry.
United Nations Global Compact (UNGC)
NBK joined the United Nations Global Compact in January 2023, committing to adopting its ten principles of responsible business conduct.
View our profile and latest Communication on Progress (CoP) >
Task Force for Climate-related Financial Disclosures (TCFD)
NBK aligns its climate risk management practices with the eleven recommendations of the Task Force for Climate-related Financial Disclosures (TCFD).
Loan Market Association (LMA)
NBK aligns its sustainable finance approach and practices with the Loan Market Association (LMA) principles.
International Capital Market Association (ICMA)
NBK aligns its sustainable finance approach and practices with the International Capital Market Association (ICMA) principles.
New Kuwait
NBK supports and aligns with the Kuwait National Development Plan: New Kuwait Vision 2035.
Sustainable Development Goals
NBK aligns its ESG Strategy and sustainability approach with the United Nations Sustainable Development Goals (UN SDGs) of 2030.
Global Reporting Initiative (GRI)
NBK reports on its environmental, social and governance progress in line with the Global Reporting Initiative.
Greenhouse Gas Protocol
NBK adopts and aligns with the Greenhouse Gas Protocol global framework for measuring and disclosing environmental impact from operations.
Partnership For Carbon Accounting Financials (PCAF)
NBK is a signatory of the Partnership for Carbon Accounting Financials (PCAF), supporting global efforts for measuring and mitigating emissions associated with financing activities.
Sustainability Accounting Standards Board (SASB)
NBK reports against the Sustainability Accounting Standards Board (SASB) to identify material issues for the banking industry.
United Nations Global Compact (UNGC)
NBK joined the United Nations Global Compact in January 2023, committing to adopting its ten principles of responsible business conduct.
View our profile and latest Communication on Progress (CoP) >
Task Force for Climate-related Financial Disclosures (TCFD)
NBK aligns its climate risk management practices with the eleven recommendations of the Task Force for Climate-related Financial Disclosures (TCFD).
Loan Market Association (LMA)
NBK aligns its sustainable finance approach and practices with the Loan Market Association (LMA) principles.
International Capital Market Association (ICMA)
NBK aligns its sustainable finance approach and practices with the International Capital Market Association (ICMA) principles.
Climate Risk Management
NBK is strongly committed to robust climate risk management as a core pillar of our ESG Strategy. NBK strives to mitigate climate risks while supporting the transition to a lower carbon economy. Our approach includes integrating ESG considerations into our risk management framework and ensuring climate risks are assessed alongside traditional financial risks, governed by dedicated committees to foster accountability and guide implementation. NBK aligns its activities with global sustainability initiatives like TCFD and PCAF, while safeguarding long-term value for our stakeholders and shareholders.
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Corporate Governance
NBK stands committed to maintaining the highest levels of fairness, integrity and responsibility. Our Corporate Governance Framework ensures that the Bank is fully compliant across all facets in applicable jurisdictions across the group network and is able to effectively and prudently manage all risks. NBK’s robust approach to risk management is a critical component of its operations, safeguarding its clients, financial stability and reputation. As a critical enabler to achieving the ambitions of the ESG Strategy, NBK upholds robust corporate governance measures across the group that combine all aspects of internal control, risk and compliance, in line with the evolving regulatory landscape.
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Beyond Investor Relations
As sustainability and ESG started to gain traction in stakeholder demands, NBK took necessary steps to proactively engage with investors on crucial ESG topics of importance to our investors and shareholders. NBK regularly engages with its investors through a variety of platforms to facilitate this interaction, strengthen investor relations, and enhance transparency and disclosure practices.
To cater to the expanding community of ESG-focused investors, we have developed a dedicated ESG Profile link. It provides a comprehensive view of our sustainability-related commitments, initiatives and activities. It also shows our performance and progress against our sustainability goals.
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