In line with its commitment to sustainable development and environmental preservation, Kuwait Finance House (KFH) participated in the sixteenth session of the Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification (UNCCD). The conference, held in Riyadh, Saudi Arabia, from December 2nd to 13th, 2024, aimed to discuss global efforts to combat desertification, land degradation, and accelerate global land restoration and drought resilience initiatives.

COP16, the largest multilateral conference hosted by Saudi Arabia, brings together dignitaries, policymakers, representatives from global institutions, businesses, government agencies, NGOs, and other key stakeholders. It also marks the largest-ever meeting of the UNCCD, coinciding with the convention’s 30th anniversary.

KFH's participation highlights its commitment to social responsibility and its pioneering role in advancing sustainability standards at all levels, especially in environmental sustainability. This aligns with Kuwait's 2035 Vision, which prioritizes environmental sustainability and reinforces the country's dedication to regional and global environmental initiatives for sustainable development.

Affirming its extended cooperation with the United Nations Development Programme (UNDP), KFH succeeded in organizing the first discussion on the role of Takaful in mitigating the risks associated with climate challenges in partnership with the UNDP.

KFH's commitment to environmental preservation has yielded significant achievements, earning regional and global recognition, including multiple sustainability awards. These include “Kuwait’s Best Bank for Sustainable Finance” from Global Finance magazine, “Kuwait's Best Bank for ESG” by Euromoney and “Corporate Social Responsibility – Middle East” Award from EMEA Finance. KFH also received the Global Sustainability Assessment System GSAS – Gold Level Certificate, the first of its kind in Kuwait, for KFH Auto eco-friendly showroom.

Among its many environmental initiatives, KFH celebrated the success of its Keep it green campaign, an umbrella project encompassing a diverse range of green efforts.

KFH took pride in its impressive record of sustainability initiatives, which included numerous innovative programs aimed at improving energy efficiency, reducing waste, digitizing banking operations, reducing carbon footprint and successfully issuing green Sukuk. KFH also reiterated its commitment to issuing more sustainable sukuk in the future.

Additionally, KFH highlighted its purposeful initiative to combat desertification and drought in collaboration with the Scientific Center under the title "We are Generation Restoration". The initiative included training workshops and practical activities aimed at raising awareness on the importance of combating desertification, drought, and promoting biodiversity.

KFH was also awarded an "A" rating by MSCI Index, for its exemplary performance in environmental, social, and governance (ESG) practices. This prestigious rating underscores KFH's commitment to sustainable finance and its leadership in integrating ESG principles into its operations and strategic initiatives.

It is worth noting that KFH is keen on taking part in global forums and discussions focusing on sustainability, mitigating climate change impacts and relying on green finance. These contributions included KFH’s participation in the 28th Conference of Parties (COP28) in December last year in Dubai. COP28 brought together presidents, country leaders, senior officials and chief executives from international financial institutions and private sector to take part in the United Nations Development Program (UNDP) and contribute to creating opportunities for sustainable and green change.