Confirming its commitment to embedding ESG principles across its operations and culture

Kuwait, 15 April 2025 
Burgan Bank has released its sixth annual Sustainability Report, marking a major milestone in its ESG journey and reinforcing its excellence in sustainable financial practices. As the first bank in Kuwait to publish its 2024 Sustainability Report, Burgan continues to demonstrate its commitment to transparency and proactive sustainability leadership. The report highlights the Bank’s key accomplishments across Environmental, Social, and Governance (ESG) domains, reflecting the deep integration of sustainable practices into its operations, culture, and stakeholder engagement. The Report was created in alignment with the Global Reporting Initiative’s (GRI) Universal Standards 2021, the UN Sustainable Development Goals (UNSDGs), the Sustainability Accounting Standards Board (SASB), Kuwait Vision 2035, and Boursa Kuwait ESG Reporting Guidelines.
 “This milestone reinforces Burgan Bank’s proactive and purpose-driven ESG strategy,” said Mr. Fadel Abdullah, Chief Executive Officer – Kuwait at Burgan Bank. “We are proud to celebrate the significant advancements we’ve made in 2024. Our ESG journey builds on a strong ESG foundation that began in 2019 and has since evolved into a strategic and bank-wide commitment. From achieving LEED Gold certification to empowering local talent and enhancing our governance framework, our progress reflects our mission to finance responsibly, promote ethical practices, minimize environmental impact, and deliver lasting value to our community.”

Sustainability as a Strategic Pillar
Burgan Bank’s ESG strategy is anchored in a long-term vision to be a responsible financial institution that helps build a resilient and equitable future for all stakeholders. At the heart of our approach are four strategic pillars: Good Governance, Responsible Banking, Community Betterment, and Environmental Impact Reduction. These pillars guide the Bank’s operations, drive internal alignment, and support delivery of its ESG mission—to finance responsibly, achieve positive community impact, endorse ethical practices and transparency, and minimize environmental impact.
The ESG governance framework is spearheaded by the Board of Directors and overseen through the Management ESG Committee (MESGC), chaired by the CEO - Kuwait and composed of senior executives from across business and support departments. The Committee convenes quarterly to set direction, monitor performance, and support integration of ESG into core banking operations. This is underpinned by a comprehensive ESG roadmap, framework, and materiality matrix, which collectively ensure that the Bank’s initiatives remain adaptive, pertinent, and aligned with the evolving expectations of its stakeholders.. 

Close-Up on 2024: Tangible Progress on All Fronts
Burgan Bank’s sixth Sustainability Report highlights a year of significant progress and performance in integrating Environmental, Social, and Governance (ESG) principles into its core operations. The Bank recorded continuous improvement in ESG ratings from top agencies such as MSCI, S&P, and Sustainalytics, reflecting continued commitment to sustainable development, demonstrating advancements in environmental stewardship, social responsibility, and transparent governance practices. It outlines key initiatives aimed at mitigating climate risks, fostering financial inclusion, and enhancing stakeholder engagement. Through this comprehensive report, Burgan Bank reaffirms its dedication to creating long-term value while aligning with global ESG standards and expectations.
Environmental Sustainability
In 2024, Burgan Bank made significant headway in environmental sustainability, driven by a commitment to tackling climate change and reducing its environmental footprint. A key highlight was achieving LEED Gold certification (O&M v4.1) for its head office—a recognition of energy-efficient design and sustainable operations. 

The Bank initiated in 2023 a structured approach to mapping its Green House Gas (GHG) emissions across its value chain and continues to expand the scope every year to include Scope 3 emission categories. The bank is on track to design a long-term decarbonization strategy in line with Kuwait’s vision for a low carbon economy.  Along with this, the Bank also introduced the ESG Risk Assessment Scorecard for systematic evaluation of ESG risks in lending activities.  Further, the Bank is conducting climate-related risk stress testing covering physical as well as transition risks.  It is noteworthy to say that in alignment with its sustainability agenda, Burgan bank was among the first banks in Kuwait to develop a Sustainable Financing Framework in line with internationally accepted principles.
As part of its broader decarbonization efforts, the Bank made strides in green operations and responsible resource consumption. This included the installation of electric vehicle (EV) charging stations at its head office to encourage cleaner mobility among staff and visitors, as well as the deployment of rooftop solar panels and motion-sensor lighting to optimize energy efficiency.
The Bank also reinforced its environmental stewardship through collaborative initiatives. In partnership with Tadwire, the first recycling facility of its kind in Kuwait, Burgan launched a head office waste management and recycling program targeting paper, plastic, and e-waste. Its participation in DHL’s GoGreen Plus program—aimed at reducing shipment-related emissions through sustainable aviation fuel—further supported its supply chain decarbonization efforts.
Additionally, Burgan played a role in community-based environmental efforts, which included the redevelopment and greenification of a public park in Daiya residential area and internal efforts to phase out single-use plastic water bottles, promoting a culture of environmental responsibility among employees.
Social Sustainability
Burgan Bank’s social sustainability efforts in 2024 were centered on empowering its people, championing inclusion, and strengthening national talent. For the second consecutive year, the Bank earned the “Great Place to Work” certification, with employee participation rising to 89%—a clear indicator of improved engagement and workplace satisfaction, reinforcing its stance as an employer of choice.

The Bank boasts a gender-diverse workforce, with women comprising 46% of total staff and 11% of leadership positions. Burgan launched the “Empower Her” initiative aimed to empower women with professional skills, mentorship and networking opportunities. Burgan’s human capital strategy is focused on developing our local talent which prioritizes recruitment and development of nationals contributing to Kuwait’s socio-economic development. Kuwaitization reached an all-time high of 86%. Burgan focused on investing in the development and career progression of Kuwaiti employees through mentorship programs, succession planning, and tailored leadership development all created to actively prepare high-potential talent for future roles. Programs like Ro’ya, the flagship leadership training initiative, and the Lab Academy—launched with CODED to cultivate future tech leaders—are shaping a pipeline of local expertise aligned with future banking needs.

The Bank continued to prioritize work-life balance and employee wellbeing by introducing innovative benefits such as reduced working hours on Thursdays, increased paternity leave to five days, and a birthday leave policy. It also launched wellness initiatives, including the 'Rock Your Habits' challenge, and opened a new in-house medical clinic to support employee health and mental wellbeing. Fostering a culture of recognition and excellence, the Burgan Beacon program was launched to celebrate employees for outstanding performance.
Burgan’s commitment to employee development remained steadfast, with an average of 33 hours of training per employee in 2024. Learning opportunities were delivered through a blend of digital platforms and in-person sessions, supporting varied learning styles and ensuring inclusive development access.
Community Engagement and CSR
Burgan’s commitment to the local community continued to grow in 2024 through a variety of Corporate Social Responsibility (CSR) initiatives.. It also actively participated in the Central Bank’s “Let’s Be Aware” (Diraya) campaign to enhance public financial literacy and banking awareness.
In addition, Burgan supported numerous initiatives across the areas of health, sports, education, and inclusion. Highlights included its continued support for Team Kuwait at the Paris 2024 Olympics, backing youth empowerment through sports and national pride. For 23 years, Burgan has also proudly partnered with the Kuwait Association for Care of Children in Hospital (KACCH) and Bayt Abdullah Children’s Hospice (BACCH), ensuring vital palliative care services for children in need. Further community contributions in 2024 included support for the Kuwait Association for Learning Differences, cancer awareness and treatment campaigns, and sponsorship of local sports events that promote wellbeing and social inclusion. The Bank also partnered with several NGOs to provide assistance to families in need, reinforcing its role as a community-first institution.

Digitalization: Technology as a Driver 
In 2024, Burgan Bank made significant strides in advancing its digital transformation strategy, emphasizing accessibility, efficiency, and a user-centric approach to services. The Bank introduced a range of enhancements to its mobile banking platform, offering a more seamless, intuitive, and secure experience that caters to the evolving needs of its customers, reflected in the 15% YoY increase in active online banking users These improvements not only made banking more convenient but also reinforced the Bank’s commitment to providing innovative and reliable digital solutions.
Internally, the Bank focused on automating core processes, which streamlined operations and facilitated faster decision-making. By reducing manual errors and enhancing compliance and control mechanisms, the Bank improved its operational efficiency and risk management. These internal advancements also aligned with Burgan’s broader ESG goals by promoting greater inclusion, ensuring wider financial accessibility, and fortifying the Bank's operational resilience in the face of an increasingly digital world. Through these efforts, Burgan Bank continues to demonstrate its commitment to innovation, sustainability, and customer-centric solutions.
Governance Sustainability
In 2024, Burgan Bank further solidified the governance foundation underpinning its ESG agenda, ensuring sustained alignment with best practices and regulatory standards.. The ESG materiality matrix was updated for 2024-2026 based on stakeholder input to enable more informed decision-making process on sustainability, emphasizing topics of shared importance to the Bank and our stakeholders, and a comprehensive review and expansion of ESG-aligned policies was completed. New and updated policies included those covering Human Rights, Sustainable Procurement, Climate Risk Management, ESG, Debt Collection, and Responsible Lending and Investment. These policies help embed ESG into every level of the Bank’s operations and risk management framework.
On cybersecurity, the Bank has implemented strengthened internal controls, advanced systems, and comprehensive employee training programs to enhance data protection, mitigate digital risks, and maintain customer trust. These initiatives focus on adopting cutting-edge technologies, AI-driven threat monitoring, and proactive incident response protocols to ensure the security of digital transactions and sensitive data. By prioritizing robust cybersecurity measures, Burgan Bank not only protects its clients but also reinforces its operational resilience in an increasingly digital landscape. These efforts demonstrate the Bank’s long-term commitment to ethical governance, responsible digital leadership, and maintaining the highest standards of security in the financial sector.
Looking Ahead
With six reports published and a growing legacy of impactful initiatives, Burgan Bank continues to lead the way in ESG integration within Kuwait’s banking sector. In the years ahead, the Bank will continue to expand its impact across environmental action, inclusive growth, governance excellence, and community advancement across all our geographies. With clear direction, committed leadership, and a purpose-driven strategy, Burgan is poised to build a better future for its stakeholders, employees, and the wider community.