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NBK launches taskforce on climate-related financial disclosures

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KUWAIT: In an unprecedented move as the first and only bank in Kuwait, the National Bank of Kuwait published its first annual Taskforce on Climate-Related Financial Disclosures Report (TCFD) for the year 2024. This report emphasizes NBK’s awareness about the importance of following a proactive approach to incorporate climate considerations into its decision-making process and comes as a response to continued transparency requirements about climate-related risks and their potential impact on businesses.

This report echoes NBK’s pioneering role and institutional approach towards fully incorporating sustainability in its operations and businesses, in line with its environmental, social, and institutional governance strategy, and in compliance with its continuous efforts to align its financial disclosures with the best practices within internationally recommended climate-risk frameworks. Moreover, the report evaluates the extent to which the bank’s non-retail portfolio is exposed to climate-change risks, how its mitigating impact, and the opportunities climate change provides as per the recommendations of the TCFD.

The report also explores several achievements by NBK in the field of sustainability in the year 2024, including issuing its debut $500 million Green bond, which is the first of its kind among local financial institutions. In addition, it highlights NBK’s sustainable asset, which reached $5 billion as of end of December 2024 and constitutes 50 percent of its aim to reach $10 billion by 2030.

It also points to the initiatives that NBK presented in 2024 that aim to minimize the impact of climate change, accelerate the transformation into a low-carbon economy, support green projects, and enhance economic flexibility in facing environmental crises.

Additionally, the report outlines NBK’s development of an innovative approach aimed at integrating climate- risk with the internal capital adequacy assessment process (ICAAP) in line with pillar 2 capital requirement, which reflects NBK’s commitment to organizational resilience and business continuity.

In the report, the bank also states the objectives for the year 2025, including incorporating environmental, social, and institutional governance measures in its credit evaluation process of current and new corporate clients as well as conducting a comprehensive evaluation of their ESG performance, particularly with regards to mitigating and adapting to climate-risks. The National Bank of Kuwait strives to enhance its capabilities to support transformation plans for its clients and provide sustainable financial solutions, while expanding its sustainable retail offers that include eco-friendly auto loans and eco-friendly residential loans.

In 2024, NBK institutionalized its process of aligning its standards with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). This comes as part of its awareness of the significant impact that climate change could have on its operations, customers, and the broader financial landscape, and as part of its commitment to factoring climate-related risks and opportunities into its strategy to ensure preparedness for future changes. Recognizing the essential role of appropriate management of climate-related risks and opportunities in enhancing governance resilience, NBK skillfully manages the balance of environmental, social, and corporate governance issues in its strategic and operational decisions.

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410 students benefit from Educational Care Bank project

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KUWAIT: Al-Safa Charitable Society announced that 410 students across various educational stages have benefited from the Educational Care Bank project for the 2024-2025 academic year. The initiative, implemented in collaboration with the General Secretariat of Endowments, provided a total of KD 100,000 (approximately $330,000) in educational support within Kuwait. Chairman of Al-Safa’s Board of Directors Mohammad Al-Shaya said in a press statement on Monday that the project reflects a shared commitment to supporting future generations by creating an educational environment free from financial obstacles. He emphasized that the initiative also aims to alleviate the financial burden faced by low-income families amid ongoing economic challenges.

Al-Shaya praised the General Secretariat of Endowments for its continued sponsorship of impactful and innovative projects that serve the community, particularly those focused on education. He noted that the Secretariat’s support for this program underscores its strong belief in education as a cornerstone for societal advancement and sustainable development. He added that Al-Safa Charitable Society, through this partnership, seeks to nurture a knowledgeable and responsible generation capable of contributing meaningfully to national development. The project, he explained, targets students who face difficulty in paying tuition fees, reaffirming the association’s belief in the right to education for all—without discrimination or financial barriers. — KUNA

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97,000 reverts and counting: IPC’s role in spreading Islam

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KUWAIT: Although it has been three months since the end of Ramadan, Islamic da’wah in Kuwait is far from limited to the holy month. Through organizations like the Islam Presentation Committee (IPC) — one of the country’s largest and oldest da’wah institutions — outreach efforts continue year-round. Since its founding in 1987, IPC has helped more than 97,000 people embrace Islam, including 2,702 in the past year alone. With over 3.4 million expatriates living in Kuwait — many from diverse religious backgrounds — the country often becomes more than just a place of work.

For many, it becomes the first space where they encounter Islam in a meaningful way. IPC’s efforts extend beyond traditional settings like mosques and religious centers. Thanks to the organization’s efforts, this Ramadan Kuwait did experience a significant increase in conversions to Islam, marking the highest number of conversions in the past seven years. Approximately 730 individuals from various nationalities embraced Islam by the 29th day of Ramadan.

This achievement is attributed to the efforts of 78 male and female preachers and the success of the “Change Their Lives” campaign, which included lectures and the distribution of preaching materials across the country. Much of IPC’s outreach focuses on laborers and domestic workers, meeting them in everyday environments such as markets, salons, workplaces, hospitals, farms, labor inspection offices, and even deportation centers.

Following initial outreach, new reverts begin a structured learning journey starting with a “Basic Islam” course that covers essential beliefs and practices. As they progress, students can enroll in advanced courses on Quranic interpretation, Tajweed, Islamic jurisprudence, Prophetic biography, and Islamic history — all offered free of charge.

Available in 14 languages

Arabic language classes are also available for non-native speakers, including non-Muslims who wish to understand Islamic texts or culture. IPC also supports lifelong Muslims, recognizing that many — especially those from non-Arabic-speaking countries — may never have had the chance to study Islam formally. “We don’t just teach the students — we create a community for them,” said Haya Alawadhi, head of IPC’s Salmiya branch. “A good circle of friends, emotional support from teachers and staff, and even financial assistance when needed.”

Many new Muslims face personal challenges — including separation from family and friends. IPC responds by fostering a family-like environment where instructors and fellow students offer compassion, inclusion and support. After carefully assessing individual needs, IPC also provides financial aid and job placement assistance to ease the transition. With lectures and materials available in 14 languages, the organization ensures accessibility for newcomers of all backgrounds. In 2024 alone, the committee recorded 8,455 students from 39 nationalities enrolled in its programs.

“We don’t call each other by titles”

“We don’t call each other by titles,” Alawadhi added. “We say ‘sister’ and ‘brother.’ You might find an American sitting next to an Asian or a European, and everyone is treated the same. If someone walks in with bias, it fades once they become part of this place.” To further its reach, IPC has expanded into digital outreach, offering social media campaigns, interactive online lectures, and Islamic content to engage younger audiences and remote learners.

IPC’s da’wah efforts are not limited to blue-collar communities. The organization also engages diplomats, professionals, and high-profile guests, presenting them with traditional Kuwaiti gift boxes that include a translated Quran, a tourism brochure, and Islamic educational materials. In 2024 alone, IPC organized around 881 training courses. Alawadhi also shared that IPC trains new Muslims to become future Islamic educators and preachers. “Some of our most active preachers today were once IPC students who converted to Islam,” she added. IPC runs around 14 branches and centers that are spread across Kuwait’s governorates.

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Oil Ministry highlights nuclear radiation risks, underscores preventive measures

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KUWAIT: The Ministry of Oil affirmed that nuclear radiation remains one of the most serious health and environmental challenges of the modern era, emphasizing Kuwait’s strong commitment to addressing this issue through an integrated regulatory framework, well-structured emergency plans, and advanced scientific monitoring networks covering various regions of the country. These efforts aim to ensure the highest standards of environmental and public health safety.

This statement was made by Sheikha Tamader Khaled Al-Ahmad Al-Sabah, Director of Public Relations and Media at the Ministry of Oil, during a health awareness seminar held Monday under the title “Risks and Damages Resulting from Nuclear Reactors and Their Impact on Human Health.” The seminar is part of the ministry’s ongoing initiative to raise community awareness and promote a culture of prevention among oil sector employees.

Sheikha Tamader lauded the efforts of governmental and technical agencies in enhancing public understanding of nuclear radiation dangers and preventive measures. She highlighted the role of such scientific forums in fostering a sustainable preventive culture across both public and private sectors. She added that the Ministry of Oil, in collaboration with relevant authorities, is actively conducting educational programs and specialized workshops to raise awareness about nuclear reactor risks and radiation leakage, while developing national infrastructure for preparedness and response to radiological and nuclear emergencies.

She stressed that prevention begins with awareness, and investing in education, training, and readiness is key to protecting people and the environment. She called for continued support of scientific and awareness initiatives and the strengthening of institutional cooperation among state ministries and regulatory bodies to guarantee community safety and environmental sustainability. In a related address, Salem Al-Azmi, Head of Radiology at the Radiation Protection Department of the Ministry of Health, reviewed the health risks associated with nuclear reactors, their operating mechanisms, and the preventive measures adopted locally and internationally.

Al-Azmi explained that nuclear reactors are among the world’s most important sources of energy due to their ability to generate large amounts of electricity efficiently, but they carry serious health and environmental risks if not managed under strict controls. He described nuclear reactors as power plants that produce electricity through nuclear fission — a process where an atom’s nucleus splits into smaller nuclei, releasing thermal energy that heats a coolant, usually water, to create steam. The steam then drives turbines connected to electric generators.

He noted that while nuclear power plants operate similarly to conventional power plants that burn coal, oil, or natural gas, the primary heat source in nuclear plants is atomic fission. He pointed out that nuclear energy has comparatively low environmental impact on Earth and natural resources.

Al-Azmi outlined the potential environmental hazards in the event of a radioactive leak, such as contamination of air, water, and soil with substances like cesium-137 and iodine-131. However, he reassured that these materials naturally degrade over time and that effective environmental rehabilitation and mitigation plans are in place. He highlighted that potential effects on wildlife and agriculture, including temporary declines in crop and animal quality, can be managed and mitigated through safety protocols and environmental restoration.

Regarding preventive actions, Al-Azmi advised sheltering indoors in well-sealed spaces, which can reduce radiation exposure by half, using closed basements or airtight shelters, and wearing protective masks for the nose and mouth. He also presented information on Iran’s Bushehr nuclear reactor, noting that it is solely dedicated to electricity generation with a capacity of 1,000 megawatts. The reactor operates under full international supervision, is non-military, does not produce nuclear weapons, and is located approximately 280 kilometers east of Kuwait. — KUNA

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