Kuwait Finance House – Kuwaiti Shareholding Company Public (K.S.C.P)
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:42,012.7 mtCO2e/year
Scope 1 Emissions:8,215.12 mtCO2e/year
Scope 2 Emissions:33,797.53 mtCO2e/year
Total Energy Consumption:50,070,408 kWh/year
Water Consumption:28,183.90 m3/year
ESG Focus Areas
- Islamic finance
- Green finance
- Financial inclusion
- Community development
- Environmental stewardship
- Employee well-being
- Governance
Environmental Achievements
- First bank in Kuwait to receive GSAS - Gold Certification for KFH Auto showroom
- Issued US$350mn sustainability sukuk for Kuveyt Türk
- More than 40% of new credit cards issued in 2022 were made from recycled plastic
Social Achievements
- Launched a set of awareness messages on banking services and products in sign language
- Appointed fully trained staff in sign language in 6 bank branches
- Supported the Institute of Banking Studies and strategic partnership with Coded Academy
- Inked a Memorandum of Understanding (MoU) with the UNDP to facilitate the exchange of knowledge on sustainability
- Established a training program for executive management to enhance their sustainability capabilities
Governance Achievements
- Established a Board-level sustainability committee
- Established a sustainability business unit with a well-defined strategy and clear performance indicators
- 100% of employees received anti-corruption training
Climate Goals & Targets
Environmental Challenges
- Resistance to change during digital transformation
- Legacy systems and infrastructure
- Data integration and management
- Cybersecurity risks
Mitigation Strategies
- Investing in change management strategies
- Phased approach to modernization
- Implementing robust data management systems
- Prioritizing cybersecurity measures
Supply Chain Management
Responsible Procurement
- AML and CFT regulations compliance
- Expertise and resources alignment
- Conflict of interest prevention
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI – Core Option
Certifications: ISO 27001:2013, PCI DSS v3.2.1
Third-party Assurance: FBRH Consultants Ltd
Sustainable Products & Innovation
- Green Sukuk
- Eco-friendly credit cards
Awards & Recognition
- World’s Best Islamic Financial Institution 2022
- Best Islamic Financial Institution in the Middle East
- World`s Best Islamic Takaful
- Safest Islamic Bank at the world level
- Islamic Bank of the Year 2022 – Kuwait
- Best Islamic Bank in the Middle East
- Best Bank in Kuwait
- Best Islamic Bank in Kuwait
- Corporate Social Responsibility in the Middle East
- Best Advance in Employee Engagement
- Best Advance in Business Automation
- AUM Corporate Award 2022
- Best Use of Payments in a Programme
- Global Sustainability Assessment System GSAS – Gold Level Certificate for KFH Auto building