Business
Burgan Bank Joins Regional Sustainability Leaders with Inclusion in FTSE4Good Index Series
KUWAIT CITY, Jul 29: Burgan Bank announced its inclusionas a constituent in the FTSE4Good Index Series, an affirmation of its unwavering commitment to ESG best practices. Developed by global index and data provider FTSE Russell, the FTSE4Good Index Series is a globally recognized benchmark that measures the performance of companies demonstrating strong Environmental, Social, and Governance (ESG) practices.These indices are widely used by investors and asset managers to incorporate ESG factors into their investment decisions, as well as to create and evaluate responsible investment funds and related financial products.
Built on transparent management standards and rigorous assessment criteria, FTSE Russell’s evaluations consider performance in areas such as corporate governance, health &safety, anti-corruption,and climate change. Companies included in the FTSE4Good Index Series demonstrate compliance with a variety of stringent ESG criteria.
Commenting on this accomplishment, Mr. Fadel Abdullah, Chief Executive Officer – Kuwait at Burgan Bank, stated: “We are honored to beone of the five organizations in Kuwait recognized by globally renowned FTSE Russell for our unwavering efforts to adopt the best ESG practices in the banking sector and embed them into our operations, culture, and stakeholder engagement. Burgan’s inclusion in the FTSE4Good Index Series is a testament to our consistent and measurable progress in sustainability practices.Thisrecognition affirms our strategic commitment to sustainable business growth, designedto create a positive impacton our community, industry, and natural environmentwhile supporting a resilient and equitable futurefor all stakeholders.”
The inclusion in the FTSE4Good Index Series provides external validation of Burgan Bank’s efforts to align with global sustainability standards and frameworks such as UN Sustainable Development Goals (SDGs), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Kuwait Vision 2035. This recognition reflects Burgan’s strong ESG agenda, driven by a comprehensive framework and strategic roadmap, under which the Bank has achieved significant progress across its four ESG pillarsof Good Governance,Responsible Banking, Community Betterment, and Environmental Impact Reduction.
On the environmental front, Burgan Bank was awarded the LEED Gold certification (O&M v4.1) for its head office, recognizing its exceptionalenergy-efficient design and sustainable operations. The Bank continues to advance its Green House Gas (GHG) mapping and reduction efforts to design a long-term decarbonization strategy.The Bankhas installed electric vehicle (EV) charging stations at its head office and select branches, and motion-sensor lighting to optimize energy efficiencyas well as installed rooftop solar panels for clean renewable energy. Furthermore, the Bank has made concerted efforts for climate risk integration in its credit portfolio.
On the social sustainability front, Burgan Bank reaffirmed its recognition as a certified Great Place to Work® and continued to champion diversity and inclusion within its workforce. The Bank surpassed the mandated Kuwaitization target with 86% national representation, while women comprised 45% of its total staff, including strong representation in senior leadership roles. The Bank’s efforts for social sustainability were also evident in its learning and development programs, tailored to address diverse needs and interests. In its pursuit of establishing a culture of healthy work-life balance, Burgan Bank currenly offers five days of fully paid paternity leave, one day of birthday leave, and four self-care days, in addition to the standard annual leave days. The Bank also offers numerous programs, benefits, events, and sporting initiatives for the comprehensive development of its employees. Moreoever, Burgan Bank has launched several initiatives and programs to empower women in the workplace and support their professional development – such as the “Lean In Circle” program and the “Empower Her” initiative. It is worth noting that the Bank is also major supporter of the “Partners for Hire” campaign, which aims to sustainably empower people with disabilities and provide them with job opportunities across various departments. Along the same lines and to cater to this community, Burgan Bank has also allocated six branches to serve customers with disabilities to promote equal access to banking services.
As part of its social impact agenda, the Bank maintained its long-standing support for the Kuwait Association for Care of Children in Hospital (KACCH) and Bayt Abdullah Children’s Hospice (BACCH), helping ensure access to vital palliative care services. In 2024, Burgan Bank also partnered with the Kuwait Olympic Committee (KOC) as a sponsor of the national delegation to the Paris 2024 Olympics, reinforcing its commitment to community development and national pride.
Burgan Bank remains committed to fostering a strong compliance culture across the organization, focused on preventing financial crime, including money laundering, terrorism financing, fraud, corruption, and bribery. This commitment is underpinned by a robust governance framework that reflects the Bank’s dedication to ethical conduct, responsible leadership, and maintaining the highest standards of security in the banking sector.
The Bank’s comprehensive ESG strategy also delivered notableadvancements in digital transformation, particularly in cybersecurity, with the implementation of cutting-edge technologies, AI-driven threat detection, and proactive incident response measures to ensure maximum data protection for all stakeholders.
Moreover, Burgan Bank has consistently led the way in transparency and sustainability,reporting its sustainability related efforts and achievements consecutively for thelast six years since 2019. This reinforcesthe Bank’s committedadherence to transparent governance and proactive sustainability leadership,demonstratingits year-on-year improvements in the sustainability and ESG performance.
As a trusted financial partner and a bank that is “Driven by You”, Burgan Bank remains dedicated to upholding its responsibility toward its customers, community, and investors, by adopting the highest standards of ESG practices and ensuring that its business success reflects positively on its stakeholders.