In a groundbreaking development for Kuwait's financial market, Manakh Studies and Research Company has launched the nation’s first Sustainability Index, evaluating listed companies on the Kuwait Stock Exchange (Boursa Kuwait) through Environmental, Social, and Governance (ESG) standards. This pioneering initiative is a foundational step toward aligning Kuwait with global trends in responsible investment and sustainable corporate conduct.

The Sustainability Index is designed to foster transparency, drive innovation, and support long-term value creation by assessing how companies incorporate ESG principles into their strategies. As reported by Al-Rai, the index reinforces that sustainability is not just a corporate responsibility but a strategic asset that boosts market competitiveness.

Highlighting the 2023 rankings, Jazeera Airways topped the Consumer Goods sector, emphasizing its ESG-driven operations and commitment to responsible business practices.

In an official statement, Manakh emphasized the alignment of this index with Kuwait Vision 2035, which prioritizes sustainable development in corporate strategy. The firm stressed that sustainability has shifted from being a moral directive to a value-generating business model, particularly in international markets.

The Capital Markets Authority (CMA) will require Premier Market companies to begin voluntary ESG reporting in 2025, with mandatory disclosures in 2026.

Many Kuwaiti firms are adopting ESG-aligned strategies to address global challenges like climate change, social equity, and resource efficiency. Investor and consumer demand for transparency in these areas continues to grow.

Manakh’s Sustainability Climate Index uses artificial intelligence to analyze corporate reports and score companies across 12 ESG tiers (AAA+ to D) using global standards and sector-specific weights.

Top Performers in the 2023 ESG Index

• National Bank of Kuwait (NBK) – 79.60 points (A+)
• Zain – 78.90 points (A+), Environmental Score: 87.5
• Boursa Kuwait – 81.90 points (AA)
• Mabanee Company – 77.70 points (A+)
• Agility – 83.25 points (AA) – highest overall
• Jazeera Airways – 72.63 points (A)

NBK, Agility, and Boursa Kuwait scored 83 in social impact. Kuwait Finance House scored highest in governance with 84 points.

The index promotes transparency, aligns Kuwait with global sustainability practices, and encourages businesses to adopt ESG as a core strategy. It complements other national efforts under Kuwait Vision 2035 and initiatives by the Environment Public Authority.