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PRESSR: Gulf Bank issues its fifth Annual Sustainability Report for 2024
PRESSR: Gulf Bank issues its fifth Annual Sustainability Report for 2024
About this update from Gulf Bank K.s.c.
Meshal Al-Wazzan: "We have completed the Bank's sustainability governance infrastructure, following the implementation of the 'Sustainable Finance' and 'Environmental, Social, and Governance (ESG) Risk Management' frameworks.”“We established an internal policy to document the Bank’s sustainability commitments and developed transparent criteria for classifying and evaluating sustainability-related initiatives.""This year, we are preparing to implement the IFRS S1 and S2 sustainability disclosure standards, deepening the integration of ESG considerations into regulatory policies.”Gulf Bank has officially released its Fifth Annual Sustainability Report for the year 2024, titled “From Vision to Execution”, highlighting the Bank's advancements in sustainability in line with Kuwait Vision 2035. The report is aligned with the Global Reporting Standards (GRI), MSCI ESG rating criteria, the United Nations Sustainable Development Goals (SDGs), and the sustainability disclosure guidelines issued by the Kuwait Stock Exchange.The report highlights Gulf Bank’s key achievements in executing its ESG strategy, highlighting its prominent role in accelerating the national sustainability agenda through strategically selected initiatives. It emphasizes the Bank’s active contributions to fostering a sustainable approach within society by adopting responsible practices in the environmental, social, and governance (ESG) fields, while providing innovative financial solutions and services to its clients.Core PillarsOn this occasion, Mr. Meshal Al-Wazzan, Chief Strategy Officer at Gulf Bank, stated, “In 2024, our focus remained steadfast on advancing our sustainability strategy through sustainable banking solutions and community-centric initiatives, which are key pillars across the Bank's path toward creating a long-lasting positive impact.”He added: "Our journey towards sustainability has been marked by several key milestones. Among the most notable achievements was the completion of the Bank's sustainability governance infrastructure, following the development of the Bank’s 'Sustainable Finance' and 'Environmental, Social, and Governance (ESG) Risk Management' frameworks. Additionally, we established an internal policy to document the Bank’s sustainability commitments and developed transparent criteria for classifying and evaluating sustainability-related initiatives."The report ...