Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Environmental Achievements

• Incorporated energy-saving technologies and environmentally friendly components into the Assima project design.

Social Achievements

• Hosted a Breast Cancer campaign in collaboration with Jaber Hospital at the Assima Mall.
• Set up a booth at Assima Mall for World AIDS Day activities under the supervision of the Ministry of Health.
• Supported the "Kuwait Trucks" campaign to aid Syria and Yemen.
• Hosted the "Salhia Pearls Exhibition" to promote local talents.
• Collaborated with CAN for its annual cancer awareness campaign at Assima Mall.
• Hosted students from Kuwait University’s Department of Engineering and College of Architectural Engineering at Assima Office Tower and JW Marriott Hotel.
• Participated in Earth Hour.
• Hosted a World Heart Day campaign in cooperation with the Kuwait Heart Association and the Sabah Al-Ahmad Heart Center.
• Hosted multiple internship programs for students from Kuwait University (CBA) and Gulf University for Science and Technology (GUST).

Governance Achievements

• Improved transparency levels, enhanced shareholder rights, and increased trading volume of the company’s stock.
• Salhia’s stock was added to Morgan Stanley’s index components and is expected to be included in the FTSE index.
• Salhia’s stock was promoted to the Premier market of companies listed on the Kuwait Stock Exchange.
• Adopted a clear approach to leverage positive investment results to achieve fair value levels for the company’s stocks.

Climate Goals & Targets

Environmental Challenges

• Political and economic events locally, regionally, and globally affected the performance of the local economy.
• Consecutive increases in interest rates globally and locally.
• Geopolitical disruptions in global supply chains due to the Russian-Ukrainian war.
• Fluctuations in oil markets.
• Concerns about the UK commercial property market due to the Russian-Ukrainian conflict, high inflation, weak energy supplies, and supply chain imbalances.

Mitigation Strategies

• Successfully exited from the sale of developed land in Stafford in July 2022.
• Postponed planned sale deals until improvement in overall economic conditions.
• Contracted with two companies to provide market-making services to attract more investors.
• Maintained open lines of communication with the company’s management and implemented strong and flexible strategies.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Guinness World Records for the largest suspended chandelier in the world (Assima Pearls).

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Social Achievements

• Various CSR initiatives throughout the year, including support for humanitarian campaigns, awareness events, and charitable activities.

Governance Achievements

• Approved yearly reports on corporate governance, compensation, audit committee, and social responsibility.
• Re-appointed Ernst & Young as external auditor.
• Established a code of conduct and ethical values.
• Developed policies and procedures to limit conflict of interest.

Climate Goals & Targets

Environmental Challenges

• Maintaining high occupancy rates in a changing economic environment.
• Managing risks associated with real estate investments and development projects.

Mitigation Strategies

• Continuous renovation and development of properties.
• Implementation of comprehensive risk management framework.
• Diversification of investments.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Third-party Assurance: Ernst & Young Al Aiban, Al Osaimi & Partners