Burqan upgrades its MSCI ESG rating to BBB
In a new achievement within its journey toward sustainability and responsible banking practices, Bank Al-Bahrain announced that Morgan Stanley Capital International has upgraded the bank’s rating in its Environmental, Social, and Governance (ESG) index from “BB” to “BBB.”
This upgrade, issued by an independent rating agency, reflects Bank Al-Bahrain’s progress in developing its ESG governance framework, including strengthening governance structures, sustainability disclosures, risk management, and integrating ESG considerations into the bank’s strategy and decision-making processes.
MSCI ESG ratings are among the standards relied upon by institutional investors to evaluate companies’ performance in ESG areas, their ability to manage risks and capitalize on sustainability-related opportunities, and to compare their performance with global peers. They also provide investors with an independent indicator of a company’s performance level and its capacity to address risks and challenges.
The new rating reflects Bank Al-Bahrain’s continuous progress in its sustainability approach and its success in embedding responsible business practices more broadly across its various operations.
Commenting on this achievement, Fadel Abdullah, CEO of Bank Al-Bahrain, Kuwait, said: “The upgrade of Bank Al-Bahrain’s MSCI ESG rating to BBB is an important and independent indicator of the progress we have made in integrating sustainability into our operations and our approach to creating long-term added value. It also reflects the ongoing development of our ESG capabilities and their increasing alignment with the expectations of global investors and other stakeholders.”
Abdullah added: “This achievement also demonstrates the strength of our governance framework, our disciplined approach to risk management, and our commitment to responsible growth. As stakeholder expectations continue to evolve, we will continue to focus on enhancing our ESG capabilities while maintaining sustainable financial performance and delivering lasting value to all stakeholders.”
The rating upgrade follows the bank’s ongoing efforts to develop its ESG framework, improve transparency levels, and strengthen accountability principles across its operations. These efforts are underpinned by an integrated institutional sustainability framework that ensures the integration of environmental, social, and governance considerations into all aspects of the bank’s business.
The upgrade of Bank Al-Bahrain’s MSCI ESG rating reinforces its position as a resilient, responsible, and forward-looking financial institution. In the coming phase, Bank Al-Bahrain will continue to advance its sustainability agenda in line with international best practices, balancing financial performance with responsible business practices to contribute to long-term value creation for its clients, shareholders, employees, and society as a whole.
