Al Safat Investment Company (ASIC)
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Governance
- Social Responsibility
Environmental Achievements
- Launched a green area with free chargers for electric and hybrid cars in 2021 (ongoing initiative)
Social Achievements
- Supported local young artists in National Day and Liberation Day celebration with graffiti art.
- Sponsored a women's empowerment event.
- Organized a breast cancer awareness lecture for female employees.
- Organized a men's health awareness lecture (Prostate cancer) for male employees.
- Participated in Watheefati Job Expo to support local talent.
Governance Achievements
- Established a balanced board structure with independent members.
- Formed specialized independent committees (Audit, Risk, Nominations & Remunerations, Provisions).
- Implemented mechanisms for restricting conflicts of interest.
- Developed effective systems for risk management and internal control.
- Ensured integrity of financial reporting.
- Promoted professional conduct and ethical values.
- Implemented accurate and timely disclosure and transparency.
- Respected shareholders' rights.
- Recognized and protected stakeholders' rights.
- Implemented continuous training programs for Board members and Executive Management.
- Conducted performance appraisals for Board members and Executive Management.
Climate Goals & Targets
Environmental Challenges
- Vacancy in the Internal Auditing Officer position due to a merger.
Mitigation Strategies
- The merger was completed, and the vacancy was addressed (although the report doesn't specify the resolution).