Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Constructive Social Contributions
• ESG Governance and Leadership
• Building Capacities

Environmental Achievements

• Reduced annual energy consumption by 9% in 2022 compared to 2019.
• Decreased total GHG emissions from owned cars by 10% in 2022 compared to 2019.
• Avoided 4,253.4 mtCO2e of GHG emissions due to recycling efforts.
• Increased recycled waste by 16% compared to the baseline year.
• Decreased water consumption by 10% compared to the baseline year.

Social Achievements

• Held 69 public CSR events in 2022, investing KD 341,239.
• Increased percentage of women employees by 4% from 2021.
• Increased percentage of women in managerial positions to 35% from 17.6% in 2021.
• Increased Kuwaiti employees by 19% from 2021, reaching a Kuwaitization rate of 28%.
• Decreased employee turnover rate by 14% from 2021, reaching 11.8%.

Governance Achievements

• Established an ESG Committee to oversee ESG-related strategies and policies.
• Developed an ESG Maturity Assessment Roadmap to identify key ESG gaps.
• Complies with Kuwait Capital Markets Authority (CMA) requirements.
• Established a Health and Safety Committee to ensure compliance with ISO 45001:2018.
• Developed a Whistleblowing Policy to promote ethical values and transparency.

Climate Goals & Targets

Environmental Challenges

• Increased landfilled waste due to increased operations.
• Maintaining high customer satisfaction levels.

Mitigation Strategies

• Implementing energy-saving projects (LED lighting, smart meters, VFDs).
• Implementing water-saving methods (push-button faucets, pressure regulating valves).
• Initiating a waste management plan and procedure, including recycling four types of waste.
• Conducting customer satisfaction surveys and addressing complaints promptly.

Supply Chain Management

Supplier Audits: Site visits by Mabanee’s Health and Safety Committee.

Responsible Procurement

• Supplier Code of Conduct, preference for local suppliers (98% in 2022).

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 45001:2018

Third-party Assurance: RSM Albazie Consulting W.L.L.

UN Sustainable Development Goals

• SDG 3, SDG 4, SDG 5, SDG 7, SDG 8, SDG 11, SDG 12, SDG 13, SDG 16

Initiatives contributing to these goals are described throughout the report.

Sustainable Products & Innovation

• Tesla Portable/Disposable mobile charger.

Awards & Recognition

• Brand of the Year (Mabanee and The Avenues) at World Branding Awards 2022.
• MEED Projects Award (Waldorf Astoria Kuwait) as Hotel Project of the Year 2022.
• Corporate Ethics Mark from CIPS.

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• 24% reduction in Landlord Controlled Energy consumption w.r.t baseline year
• 14% reduction in total water consumption intensity
• 6% increase in waste recycling (2,002,287 kg)
• Installation of solar panels at S3 project resulting in a noticeable decline in reliance on non-renewable energy

Social Achievements

• 22.7% increase in the hiring of Kuwaiti Nationals
• 9.4% increase in new female hires
• 4000+ hours of training conducted
• 14 interns accepted

Governance Achievements

• Female Board Secretary
• 2 independent directors
• 18% women in managerial positions
• Zero whistleblowing instances

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions are not explicitly mentioned, but the report highlights challenges in achieving full Scope 3 emissions reporting due to the complexity of tracking emissions from downstream leased assets.

Mitigation Strategies

• The report mentions plans to enrich Scope 3 disclosures by broadening boundaries and incorporating additional categories.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct; ESG criteria in procurement decisions; preference for local suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI, UN SDGs, Kuwait National Vision 2035

Certifications: LEED Silver (The Avenues - Kuwait), ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 31000:2018, ISO 37001:2016, ISO 50001:2018, ISO 55001:2014 (The Avenues - Kuwait), ISO 9001:2015, ISO 45001:2018, ISO 41001:2018 (The Avenues - Bahrain)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 3
• SDG 5
• SDG 7
• SDG 11
• SDG 13
• SDG 17

The report mentions alignment with several SDGs, including those related to health, gender equality, affordable and clean energy, sustainable cities and communities, climate action, and partnerships for the goals. Specific initiatives contributing to each goal are described throughout the report.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• LEED Silver Certification (The Avenues - Kuwait)
• MEP Awards (The Avenues – Khobar)
• Luxury Lifestyle Awards (The Avenues – Bahrain)