Climate Change Data

Kuwait Projects Company (Holding) (K.S.C.P)

Climate Impact & Sustainability Data (2021, 2022, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:2,942.26 mtCO2e
Scope 1 Emissions:14.61 mtCO2e
Scope 2 Emissions:2,124 mtCO2e
Scope 3 Emissions:803.25 mtCO2e
Renewable Energy Share:Not disclosed
Total Energy Consumption:3,333,333 kWh
Water Consumption:14,555 liters
Waste Generated:Not disclosed
Carbon Intensity:49.87 mtCO2e/employee

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced paper consumption by 19%, saving 38,000 sheets of paper and 1.7 mtCO2e in GHG emissions.

Social Achievements

  • Increased female representation in management by 25%.
  • Increased total amount spent on employee events by 60%.
  • Provided 136 total training hours to employees.
  • Maintained employee turnover rate at 7%.
  • Recorded zero employee complaints.

Governance Achievements

  • Recorded zero incidents of fraud or corruption.
  • Maintained strong governance within its policies, processes, and procedures.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • COVID-19 pandemic impacted KIPCO's operations and strategies.
  • Limited data availability due to this being the first sustainability report.
Mitigation Strategies
  • Implemented work-from-home arrangements and maintained employee compensation and benefits.
  • Developed the ALAAN mobile application to maintain community engagement.
  • Established a baseline for future performance comparisons.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Human rights considerations in supplier selection and evaluation.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Investment in Alternative Energy Projects Co. (AEPCO).

Reporting Standards

Frameworks Used: GRI Core Option, UN Sustainable Development Goals (SDGs)

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 1: No Poverty
  • Goal 2: Good Health and Well-being
  • Goal 5: Gender Equality
  • Goal 6: Clean Water and Sanitation
  • Goal 8: Decent Work and Economic Growth
  • Goal 11: Sustainable Cities and Communities
  • Goal 12: Responsible Consumption and Production
  • Goal 13: Climate Action
  • Goal 16: Peace, Justice and Strong Institutions

KIPCO's CSR initiatives and business practices contribute to various SDGs.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:2942.26 mtCO2e
Scope 1 Emissions:9.38 mtCO2e
Scope 2 Emissions:1,575.00 mtCO2e
Scope 3 Emissions:67.66 mtCO2e
Renewable Energy Share:Not disclosed
Total Energy Consumption:2,500,000.00 kWh
Water Consumption:16,000 liters
Waste Generated:16,000 sheets of paper
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental Responsibility
  • Social Responsibility
  • Adaptive Governance

Environmental Achievements

  • Reduced Scope 1 GHG emissions by 35.78%
  • Reduced Scope 2 GHG emissions by 25.86%
  • Achieved a 90% reduction in total paper waste

Social Achievements

  • 18.64% increase in full-time employees, representing 13 diverse nationalities
  • 0% employee turnover
  • Allocated KD 132,422 for community sponsorships

Governance Achievements

  • Successful merger with Qurain Petrochemical Industries Company (QPIC) within nine months
  • Adherence to a comprehensive Code of Ethics and Professional Conduct
  • Zero recorded incidents of discrimination and harassment

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Not disclosed
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Emphasis on local sourcing (68.18% of suppliers are local), due diligence on business partners

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRI

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Gulf Insurance Group (GIG) - Insurance Brand of the Year; United Real Estate Company (URC) - Best for Kuwait; Jordan Kuwait Bank (JKB) - Best Private Bank Jordan and Best Corporate Bank Jordan

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:1745.37 tCO2e/year
Scope 1 Emissions:8.17 tCO2e/year
Scope 2 Emissions:1575.00 tCO2e/year
Scope 3 Emissions:162.20 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:2,500,000.00 kWh/year
Water Consumption:7,500 Liters/year
Waste Generated:Not disclosed
Carbon Intensity:25.30 tCO2e/employee

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced water consumption by 53%
  • Recycled 200,000 sheets of paper
  • Solar panel initiatives developed by portfolio companies (AEPCO)

Social Achievements

  • 53.6% increase in employee training hours (total expenditure KD 20,000)
  • 18 total community and employee initiatives (total expenditure KD 754,645)
  • Kuwaitization rate of 26% in Executive Management and 28% across the workforce
  • Gender diversity: 20% females on the Board of Directors, 23% in Executive Management, and 38% in the workforce

Governance Achievements

  • Development of a comprehensive ESG Strategy and Framework
  • Establishment of an ESG Committee
  • 77% local procurement expenditure
  • Zero incidents of data loss, leaks, or breaches (total IT expenditure KD 129,295)

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Climate change (though not a highly material risk)
  • Increase in e-waste (362% increase from 2022)
Mitigation Strategies
  • Implementation of various initiatives to reduce negative environmental impacts (e.g., digital document management, electronic communication)
  • Focus on efficiency and resource optimization
  • Assessment and encouragement of climate-conscious practices within the investment portfolio
  • Prioritizing regulatory compliance and proactive environmental management

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Emphasis on local procurement (77% of procurement expenditure)

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRI framework 2021, United Nations Sustainable Development Goals (SDGs), New Kuwait Vision 2035, Kuwait Boursa Index, GCC Stock Exchange Index

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 1
  • Goal 3
  • Goal 4
  • Goal 5
  • Goal 8
  • Goal 9
  • Goal 11
  • Goal 12
  • Goal 13
  • Goal 17

Various initiatives contribute to these goals as detailed in Appendix 5.1

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Top 100 CEOs 2023 (KIPCO Group CEO ranked 60)
  • Sustainable 100 Leaders (KIPCO listed)
  • Fortune 500 Arabia (KIPCO listed 59)
  • Forbes Middle East Top 100 Listed Companies (KIPCO listed)
  • Best Debt Bank in the Middle East (Kamco Invest)
  • Global Green Bond of the Year (JKB)
  • Best Bank for Corporate Social Responsibility in Jordan (JKB)