Kuwait Finance House (KFH) has released its 2024 Carbon Footprint Report, which highlights the Bank’s key environmental achievements and initiatives during the year. The report also provides a comprehensive assessment of the environmental impact of KFH’s operations, products, and services, while shedding light on the main sources of emissions with the aim of developing effective solutions to reduce them and support the KFH’s efforts in combating climate change and optimizing the use of resources.

Moreover, the report presents the Bank’s efforts to reduce greenhouse gas emissions, while reaffirming its commitment to launching financial products that support environmental initiatives and expanding its climate efforts in line with Kuwait’s national development goals and global climate objectives.

This report marks an important milestone in KFH’s journey to develop an integrated disclosure framework that enhances transparency and ensures alignment with international sustainability standards.

In his opening message, KFH Group Chairman, Hamad Abdulmohsen AlMarzouq, stated that releasing the Carbon Footprint Report reflects the bank’s unwavering commitment to environmental sustainability and its dedication to integrated sustainable practices across its operations. He added that KFH’s proactive approach in adopting environmental, social and governance (ESG) principles represent a cornerstone of the Bank’s corporate strategy.

AlMarzouq emphasized that KFH has been lauded for its leadership in sustainability. The bank's focus on environmental, social, and governance (ESG) practices led to an "A" rating from the MSCI ESG index, the top score among Kuwaiti banks for 2024. KFH was also named to the FTSE4Good Index and received several prestigious awards, including Kuwait’s Best Bank for Sustainable Finance from Global Finance magazine and Best Bank for ESG from Euromoney, all of which confirm the strength of its ESG strategy.

He noted that KFH’s acquisition of the formerly AUB-Bahrain Group strengthened the Bank’s position as the largest private sector company listed on both Boursa Kuwait and Bahrain Bourse, with a market capitalization exceeding KD 14 billion, and as the world's second-largest Islamic bank. This initiative has established a prominent banking entity, boasting an expansive international footprint spanning 10 countries, including key markets such as Kuwait, Bahrain, Turkey, Egypt, Germany, and the United Kingdom. This global presence strengthened the Bank’s capability to support sustainable development in new markets.

AlMarzouq affirmed KFH’s commitment to supporting Shariah-compliant green finance. These efforts are demonstrated though energy-efficient home and vehicle financing to green Sukuk investment to fund renewable energy and efficiency projects. Additionally, KFH signed a unique MoU and co-launched a Global Takaful Alliance with the UNDP, promoting its role in implementing the UN Sustainable Development Goals (SDGs) and aligning its operations with ESG standards.

As part of its environmental endeavors, KFH continued its eco-initiative. These included coral-reef restoration and island clean-ups in partnership with the Scientific Center and government agencies under its Keep it Green campaign, which encompasses an array of innovative environmental projects.

KFH's commitment to sustainability is evident in its recent accomplishments. The bank received a LEED Gold Level Certification for Operations and Maintenance for one of its branches, a significant milestone in its sustainability journey. This follows the GSAS Gold Level Certification awarded to the KFH Auto showroom, making it the first of its kind in Kuwait to achieve this distinction. This certification highlights the showroom's adherence to environmental sustainability standards.

AlMarzouq concluded that sustainability is an integral pillar of KFH’s strategy and affirmed that the Bank will remain steadfast in its commitment to continuously explore innovative solutions and partnerships that allow it to further reduce its carbon footprint and create a carbon neutral impact.