"Burqan" upgrades its rating to "BBB" in "MSCI ESG"
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, “MSCI ESG,” from “BB” to “BBB.”
This upgrade, issued by an independent rating agency, reflects 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 assess companies’ performance in environmental, social, and governance areas, as well as their ability to manage risks and capitalize on sustainability-related opportunities. They also enable comparison of companies’ performance with global peers and provide investors with an independent indicator of performance levels and capacity to address risks and challenges.
The new rating reflects 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 Al-Bahrain – Kuwait, said: “The upgrade of Al-Bahrain’s MSCI ESG rating to ‘BBB’ represents a significant 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.”
He added: “This achievement also underscores 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 efforts to develop its ESG governance framework, improve transparency levels, and strengthen accountability principles across its operations. These efforts are based on 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 Al-Bahrain’s MSCI ESG rating enhances its position as a resilient, responsible financial institution with a forward-looking vision. In the coming phase, Al-Bahrain will continue its commitment to advancing its sustainability agenda in line with international best practices, balancing financial performance with responsible business practices, thereby contributing to long-term value creation for its clients, shareholders, employees, and society as a whole.
