Ahli Bank Approves First ESG Policy Framework

The policy framework aligns with “Kuwait Vision 2035.” It is based on global sustainability standards and frameworks, including the International Financial Reporting Standards (IFRS) S1 and S2, the Global Reporting Initiative (GRI) standards, and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

On this occasion, Saqr Al-Banna Ali, Head of Communications and External Relations at Kuwait Finance House (KFH), stated: “The approval of the first social, environmental, and governance (ESG) sustainability policy framework represents a significant step in translating our sustainability commitments into an accountable structure. By defining clear responsibilities and enhancing our management approach to sustainability priorities and related opportunities, we can embed sustainability into the Bank’s decision-making processes and deliver added value to all our stakeholders.”

He added: “This framework establishes robust and effective practices for sustainability reporting, providing our stakeholders with clear and reliable information on KFH’s performance and progress in environmental, social, and governance sustainability.”

The policy framework defines the roles, responsibilities, and accountability for environmental, social, and governance sustainability across relevant departments and within the Bank. It also outlines the governance structures, policies, processes, and approvals required to implement, monitor, and measure the performance of ESG sustainability initiatives.

Furthermore, the framework supports KFH in identifying, assessing, and mitigating climate-related risks and other ESG-specific risks, while identifying opportunities that can enhance the Bank’s resilience.

Al-Banna Ali continued: “This framework enables us to track our progress more rapidly and hold ourselves accountable for the commitments we undertake. As we implement our ESG sustainability strategy, we will continue working to earn the trust of our stakeholders, strengthen the Bank’s success, and contribute to sustainable economic development in the communities and markets we serve.”

This framework ensures principles of transparency, accountability, governance, and performance monitoring. It positions the Bank at the forefront of institutions aligned with global trends and sustainable development insights, transforming sustainability commitments into a key driver of long-term growth and financial innovation, and opening new avenues for developing advanced banking solutions that meet the aspirations of the new generation of individual and corporate clients.

Al-Banna Ali concluded: “The launch of the first sustainability framework constitutes a fundamental step in modernizing our operating model, contributing to improving the Bank’s credit rating and reinforcing its long-term commitments in this area. It also solidifies the Bank’s position as a responsible development partner and supports our plans for sustainable growth.”