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Sustainability Policies

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Leadership Commitment

I am delighted to present our 2019 Sustainability Report, which we are proudly publishing for the fourth year in a row. On behalf of the Board of Directors, I extend my gratitude to all NBK stakeholders who were involved in continuously supporting and enabling our sustainability practices.

This year, our report is focused on Environmental, Social, and Governance (ESG) highlighting these three topics while also emphasizing the importance of employee and business aspects to support our ESG directions. Our commitment and progress in ESG were recognized by NBK’s outstanding accomplishment this year of being included for the first time in the FTSE4Good index.

Additionally, our 2019 Sustainability Report is closely aligned to the Kuwait National Development Plan (KNDP), UN Sustainable Development Goals (SDGs), and Global Reporting Initiative (GRI) standards. Our report also integrates our six key sustainability focus areas:

  1. Serving Customers
  2. Caring for Our Environment
  3. Contributing to Sustainable Economic Development
  4. Respecting & Developing People
  5. Giving Back to the Community
  6. Leading in Governance

In conclusion, we hope that this Sustainability Report proves to be a valuable tool for you, our cherished stakeholders, in understanding our ESG efforts and we look forward to you sharing your feedback with us.

Nasser Musaed Abdulla Al–Sayer
Chairman of the Board of Directors

About NBK

In this chapter, NBK reflected an overview of the Bank, including profile, markets served (in the form of business segments), products and services, vision, mission, values, awards and recognitions, and international banking presence. Moreover, NBK highlighted an important sustainability recognition, namely NBK’s inclusion in FTSE Russell’s FTSE4Good Index Series in 2019 - noting that NBK was the first bank in Kuwait to be selected for this index series.

Our Sustainability Approach

NBK reporting on its approach towards sustainability in this section, which is mainly done by embedding ESG within the Bank’s business strategy, through NBK’s 6 sustainability pillars:

  • Economic Development
  • Customers
  • Corporate Governance
  • People
  • Environment
  • Community

As part of implementing these pillars, NBK has laid out a set of 8 targets (5-year) in alignment with the 6 sustainability pillars.

Stakeholder Engagement

Moreover, integral to NBK’s sustainability approach is stakeholder engagement, where the Bank described its importance and illustrated it with stakeholder engagement summary table that links each relevant stakeholder group to the engagement mechanisms, stakeholders’ expectations, outcomes and engagement frequency.

Materiality Assessment

In line with this value of stakeholder engagement, NBK conducted a materiality assessment with stakeholders in order to identify the topics that are most material to them, and then develop the sustainability reporting according to the assessment of these topics. The result of the assessment was identified in a materiality matrix, which plotted the materiality of topics according to external and internal stakeholders rating agreed during workshops. The result was a set of 17 material topics, each of which were aligned to GRI, UNSDGs, KNDP, and Kuwait Boursa ESG Indicators, to highlight their connection with both national and international sustainability directions..

Making Progress

In addition, this chapter reported on the Bank’s progress towards achieving various sustainability milestones over the last 4 years, including inclusion into the FTSE4Good Index, developing a sustainability roadmap, among others.

Social Return on Investment (SROI)

Furthermore, we disclosed our approach towards measuring and assessing various intangible sustainability outcomes, namely in the form of the social return on investment (SROI), resulting in a total of 14 SROI calculations disclosed throughout the report.

Governance & Responsible Business

““Leading in Business and Governance” and “Contributing to Sustainable Economic Development” are at the heart of NBK and are 2 of our 6 main sustainability pillars. We continuously strive to integrate sustainability elements throughout our business performance and governance aspects. This includes, for example, integration of sustainability into our corporate governance, responsible business, growth & economic impact, risk assessment, compliance and transparency.

Corporate Governance

In this section, we reported on our corporate governance, mainly including our governance structure, Board of Directors, and Board Committees. NBK also disclosed elements related to our risk management practices, compliance, and transparency.

Responsible Business

Moreover, concerning our responsible business practices, we highlighted our operational business improvements and innovation & digitization projects with details for each. Some of these innovation & digitization aspects included, but are not limited to, Robotic Process Automation (RPA), mobile banking, online banking, NBK Geo Alerts, I-Hub platform, RippleNet, among others.
Another part of our responsible business practices includes our prioritization of our customers, where we reported on customer experience, customer perks, special needs customers, youth customers, customer satisfaction/complaints, and others.


Sustainable Growth & Economic Impact

As part of our sustainability, we also ensure that we exhibit sustainable growth. This includes assessing our direct economic impacts on stakeholders (with a total of KWD 314.4 million of economic impact), brand power, local and sustainable procurement, contribution to Kuwait National Development Plan (KNDP), and contribution to Small and Medium Enterprises (SMEs).

Social Contribution (Sustainability & Community)

“Giving Back to the Community” defines the essence of NBK and is one of our six sustainability pillars. We strive to continue our longstanding legacy of expanding our social impact and contributing in meaningful ways to the local community. Our consistent track record of giving back to the community forms a powerful foundation of NBK’s sustainability and corporate social responsibility performance.

Community Investment & Engagement

As part of our social responsibility, NBK invests in the community through a range of initiatives. NBK has invested into 6 categories of community initiatives, which are: healthcare, education/youth, social contribution, awareness, environment, and sports & culture. To list a few, some selected initiatives include, among others: NBK Hospital, NBK Walkathon, Omniya collaboration, Ramadan activities, Kuwait Red Crescent Society (KRCS), LOYAC, Kuwaiti Association for Learning Differences (KALD), I Dream to Be campaign, Kuwait Association for the Care of Children in Hospital (KACCH), and Bayt Abdullah Children’s Hospital (BACCH).

Our People & Workplace

“Respecting and Developing People” is an absolutely foundational priority at NBK and is one of our six main sustainability focus areas. Accordingly, NBK strives to highlight this through various areas, including talent management, diversity & inclusion, Kuwaitization, employee engagement, training & development, and safety, health & well-being.

Diversity and Kuwaitization

As part of ensuring a sustainable workforce, NBK reports various diversity elements of employees, including gender implication across job positions. According, we maintained 45% female employment.

Moreover, NBK is working toward the national Kuwait agenda to increase employment of Kuwaiti nationals in the private sector. In 2019, NBK reached 70.5% of Kuwaitization, up from 65% in 2018.

Employee Engagement & Volunteering

With the aim of engaging with employees and heightening the sense of comradery and networking among them, NBK conducted a total of 9 employee events in 2019. NBK Employees had also volunteered for community initiatives, whereas the 4 key volunteering events were: NBK Walkathon, Ramadan Volunteering, NBK Hospital, and Omniya.

Training & Development

NBK has continued to offer and build on our suite of training and professional development programs. In 2019, 271 courses were offered with 3,037 total participants attending (some employees may have attended more than one course).
The total number of training hours is 127,897 that is equivalent to 42 hours of training per employee.

Environmental Protection

 “Caring for Our Environment” is a vital priority for NBK, one of our six main sustainability focus areas. NBK’s commitment to environmental responsibility includes actively measuring and assessing the environmental aspects of our business, investing in green building for our new headquarters, managing our operations to conserve water and energy and recycle materials, and focusing on reducing our GHG (greenhouse gas) emissions.

Green Building

NBK continues its commitment to Green Building, with our new headquarters building nearing completion. Our new headquarters will exemplify a built environment that is in harmony with the environment, incorporating numerous features that reduce environmental impact. Some of these environmental aspects include cooling and heating energy /systems, energy saving, water saving, resource minimization, lighting, and LEED certification.

Energy Consumption & Reduction

In order to reduce our energy consumption and thus our GHG emissions, NBK pursues a number of energy conservation and reduction practices, including energy optimization, auto switch off technologies, heating and cooling auto savings technologies, highly efficient fixtures and the Tarsheed power reduction campaign (done annually).
Accordingly, we measured our 2019 electricity consumption in total, as well as energy consumption intensity per employee.


Greenhouse Gas (GHG) Emissions

NBK measures Greenhouse Gas (GHG) emissions across scope 1, scope 2, and scope 3 emissions, including SOx, NOx, and CO2. NBK’s Scope 1 emissions derive from eight NBK-owned cars and one generator. Overall, our Scope 1 emissions are a miniscule portion of our overall GHG emissions (well under 1%). On the other hand, the vast majority of our GHG emissions are our Scope 2 emissions, derived from our purchased electricity. Next is Scope 3 emissions, which are also a very small portion of our total GHG emissions (2.7%). Accordingly, we recorded our GHG emissions per Scope as well as in total of the Scopes.


Water & Resource Management

Water is a critical resource throughout the Middle East and is an important priority for NBK. Accordingly, we record our water consumption every year, both in total figures as well as intensity figures per employee.
Concerning our resource management, this year, NBK recycled 74.2 MT of paper (YTD), with more details provided in the report. As part of this, NBK is planning to start the Manage Printing Services (MPS) as way to reduce printing consumption.
Concerning plastic waste management, NBK has implemented an initiative to recycle plastic bottles through 4 collection points, generated mostly from the workplace.

For more details about NBK Sustainability program, please download NBK 2019 Sustainability Report, which you can find on this page.

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