Powering Kuwait’s future: Banks pave the way for sustainable growth

Powering Kuwait’s future: Banks pave the way for sustainable growth

Kuwait City: As the global financial sector increasingly turns its attention to environmental, social, and governance (ESG) principles, a new Growth Perspective video produced by Oxford Business Group in collaboration with the National Bank of Kuwait (NBK) explores Kuwait's banking sector's commitment to sustainable growth. Kuwait's leading financial institutions are responding to the pressing issues of our time, including climate change, social inequality and sustainable economic development, by aligning their strategies with international ESG frameworks. The video, titled "Kuwait's banks target sustainable growth," provides a comprehensive overview of how this global trend is playing out within the region. NBK's forward-thinking approach includes integrating ESG metrics into client credit assessments, with plans to introduce a dedicated ESG section by 2024 to assess clients' environmental impacts comprehensively. OBG shows how Kuwaiti banks are embracing environmental, social and governance principles to contribute to the sustainable growth of the banking sector. A range of programmes and initiatives, from eco-friendly loans to client advisory services and a sustainable finance framework, are helping corporate clients, individuals, fellow banks and Kuwait as a whole work toward a greener future. Furthermore, NBK's Sustainable Financing Framework, launched in 2022, highlights the role of finance in addressing environmental and social challenges,