‘As we continue to strive towards business excellence, we look to enhance our ESG performance’ says company’s representative
KIPCO – the Kuwait Projects Company (Holding) – has published its first Sustainability Report, ‘The Way Forward: Embarking on a Sustainable Journey’. In line with the Global Reporting Initiative (GRI), the report measures, assesses and discloses performance in a range of non-financial areas in relation to sustainability and ESG – environmental, social and governance.
This report will form a baseline for current comparisons and future performance. A common theme is governance, both within KIPCO as a holding company and in relation to its portfolio companies. This includes governance and oversight over certain ESG areas.
On this occasion, Ms Eman Al Awadhi, Group Senior Vice President – Corporate Communications and Investor Relations at KIPCO, said:
“We are delighted to present our first sustainability report, which articulates all of our achievements in 2021 in relation to non-financial, sustainability and ESG aspects. As we continue to strive towards business excellence and transparency, we also look forward to enhancing KIPCO’s performance in these areas and annually report on our progress.”
She added:
“We seek to become more ESG-driven in the future, directed mainly by the assessments and added value identified within this report. We view this as an opportunity to empower and enhance ESG at the holding level, followed by further impact that would permeate across the Group.”
In developing this report, KIPCO followed a stakeholder focused and standards-aligned approach to sustainability. Accordingly, the report takes into consideration a range of global and local sustainability frameworks and drivers, including the Global Reporting Initiative (GRI), UN Sustainable Development Goals (SDGs) and Kuwait National Development Plan (KNDP).
KIPCO’s Sustainability Report 2021 summarizes KIPCO’s governance structure, Board of Directors, Board Committees, governance disclosures and compliance processes. It describes the company’s ethical and transparent business practices, highlighting its code of conduct, commitment to human rights and a range of ethical business areas that include anti-corruption, anti-fraud and anti-money laundering.