Kuwait, September 2022: A new environmental, social and governance (ESG) intelligence report, produced by Oxford Business Group (OBG) in partnership with the National Bank of Kuwait (NBK), highlights the key role that sustainable finance is set to play as a facilitator of socio-economic growth, both nationally and across the broader Gulf region.
Titled “Sustainable and Responsible Banking in the Gulf”, the report provides in-depth analysis of the ESG strategies being adopted in the financial services sector in an easy-to-navigate and accessible format, supported by key data and infographics.
The report maps out the benefits that sustainable finance frameworks can deliver across the banking sector and wider economy, which range from a more diverse range of funding sources to systemic safeguards against risks.
It also explores the pivotal part that digitalisation is set to play in accelerating the introduction of ESG principles in the banking sector through advancements that include more inclusive financing options and a reduction in the need for cash and paper.
The opportunities banks have to spearhead social responsibility is another topical issue analysed. In this section, the report highlights key areas identified as ripe for development, such as strengthening support for underrepresented segments of society.
The report tracks NBK’s ESG journey to date, documenting the steps it has taken to implement policies that dovetail with national and international frameworks for sustainable development and long-term value creation.
It also looks at the measures introduced by the bank focused on social responsibility, which include boosting funding for staff training and community initiatives, increasing financial support for SMEs and working with more local suppliers.
This ESG intelligence report forms part of a series of tailored studies that OBG is currently producing with its partners, alongside other highly relevant, go-to research tools, including a range of Future Readiness reports, sector-specific Growth and Recovery Outlook articles and interviews.