Climate Change Data

Warba Bank K.S.C.P.

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:6,321.16 tCO2e/year
Scope 1 Emissions:793.28 tCO2e/year
Scope 2 Emissions:2,003.05 tCO2e/year
Scope 3 Emissions:3,524.83 tCO2e/year
Total Energy Consumption:3,950,065.34 MWh/year
Carbon Intensity:8.55 tCO2e per employee

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Implemented plastic and paper recycling programs in headquarters and branches.
  • Offset 2022 business travel carbon emissions through financial contributions to a climate project.
  • Recycled 0.45 tCO2e of greenhouse gases.

Social Achievements

  • Achieved an employee retention rate of 87.92%.
  • Invested KD 235,000 in employee training.
  • Spent KD 120,000 on employee events and activities.
  • Achieved 83.49% Kuwaitization.
  • Launched the Warba Bank League, a sports league including disabled youth.
  • Welcomed 27 interns from eight universities.

Governance Achievements

  • Published second Sustainability Report.
  • Maintained ISO 27001 certification.
  • Improved customer service efficiency, reducing average waiting time to 32.1 seconds.
  • Achieved a Customer Satisfaction Index (CSI) of 83% and a Net Promoter Score (NPS) of 61%.

Climate Goals & Targets

Short-term Goals:
  • Reduce greenhouse gas (GHG) emissions within the next five years.

Environmental Challenges

  • Reducing carbon emissions from employee travel.
  • Minimizing environmental impact across all aspects of business.
  • Managing climate-related risks.
  • Addressing potential environmental impacts associated with financing projects within the oil industry.
Mitigation Strategies
  • Funding climate projects to offset carbon emissions.
  • Implementing comprehensive plastic and paper recycling programs.
  • Developing an Environmental Policy to address energy use.
  • Integrating climate risk considerations into ESG framework and ICAAP.
  • Developing an ESG scoring tool to assess risks in financing activities.

Supply Chain Management

Supplier Audits: 28 suppliers evaluated for social criteria

Responsible Procurement
  • Commitment to local procurement.
  • Contractual terms mandating compliance with local laws, regulations, and internal policies, including ESG considerations.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards 2021, UN Sustainable Development Goals (SDGs), Boursa Kuwait/Capital Markets Authority ESG Guide

Certifications: ISO 27001:2022, ISO 9001:2015, PCI-DSS (version 3.2.1), SWIFT CSP Compliance

UN Sustainable Development Goals

  • Goal 3: Good Health and Well-being
  • Goal 7: Affordable and Clean Energy
  • Goal 8: Decent Work and Economic Growth
  • Goal 9: Industry, Innovation and Infrastructure
  • Goal 11: Sustainable Cities and Communities
  • Goal 12: Responsible Consumption and Production
  • Goal 13: Climate Action
  • Goal 16: Peace, Justice and Strong Institutions
  • Goal 17: Partnerships for the Goals

Initiatives mapped against the UN SDGs.

Sustainable Products & Innovation

  • Lunch Game Edition Prepaid Card (recyclable)
  • Warba Bank Gaming Card

Awards & Recognition

  • Visa award for innovative prepaid card.
  • Best Digital Savings App award for ‘Hassala’.
  • Most Sustainable Bank in Kuwait 2023 award.