Capital Markets Authority: 92% of First Market Companies Align with 'New Kuwait'

The Capital Markets Authority participated in the expanded awareness workshop organized by the Kuwait Economic Association at its headquarters on Tuesday, October 27. The event brought together a select group of local and Gulf experts, representatives of regulatory bodies, listed companies, and an audience interested in sustainability, investment, and capital markets.

The Authority’s participation was represented by Khaled Yousef Al-Saqer, Director of the Awareness, Public Relations, and Communications Office, and Abdulrahman Yousef Al-Filikaawi, Director of the Market Regulation Department, who also took part as a speaker.

In his opening remarks, Abdulrahman Al-Filikaawi noted that the transition toward a more sustainable economy poses a significant financing challenge, making capital markets a pivotal channel for mobilizing and directing funds toward projects and activities capable of achieving sustainability goals related to environmental, social, and governance (ESG) factors. He outlined the Authority’s role in regulating sustainable finance through the regulatory framework it has approved, which includes requirements for preparing sustainability reports, enhancing governance and risk management related to sustainability, regulating sustainable investment funds, and setting rules for the issuance of bonds, green, social, and sustainability sukuk.

In this context, Al-Filikaawi pointed out that initial findings showed a 92% alignment between the topics and indicators presented in the reports of companies in the First Market and the indicators of the National Development Plan “Kuwait 2035,” reflecting the role listed companies can play in supporting the state’s efforts to achieve sustainable development goals.

The workshop concluded with recommendations to accelerate academic and professional qualification for human resources involved in implementing sustainability standards, unify sustainable disclosure frameworks in the financial markets of Gulf Cooperation Council (GCC) countries, and enhance public-private partnerships in these countries to develop technological infrastructure that supports the green economy and sustainable finance.