Sustainability
At NIC we set Sustainability as a long-term goal for our society to meet the needs of economic growth at its current speed with the least amount of impact on the environment. By enabling the growth and development of NIC activities to ensure that future generations have the natural resources needed to survive. We adopt the concept of sustainability to build on the notion that natural resources on are finite, so supporting sustainable practices helps maintain a balance between the environment, economy, and equity
National Investments Company (NIC) Sustainability Report 2023
The Sustainability Report has been prepared in accordance with the GRI Standards, which enable organizations to publicly disclose their sustainability impacts on the economy, environment, and people, including those related to human rights and how these impacts are managed. By adhering to these standards, our sustainability reporting enhances transparency and strengthens organizational accountability.
This report aligns with national sustainability frameworks such as the New Kuwait Vision, the Boursa Kuwait Sustainability Index, and the Capital Markets Authority (CMA) Resolutions, as well as international ESG standards, including the Global Reporting Initiative (GRI) 2021 and the United Nations Sustainable Development Goals (UN SDGs).
As our inaugural report, it is published independently of our annual report schedule to reflect the comprehensive internal processes required for data collection. The report highlights our sustainability efforts throughout 2023, showcasing our commitment to continuously improving ESG practices and capabilities, ensuring that we are well-equipped to address ESG risks and opportunities now and in the future.
Note: “NIC” or “Company” refers to National Investments Company K.S.C.P., and “Group” refers to NIC and its directly held subsidiaries.
Key Highlights from the Sustainability Report:
- Environmental Stewardship: We have made substantial strides in reducing our carbon footprint through [specific initiatives, e.g., energy efficiency improvements, renewable energy adoption]. Our commitment to environmental stewardship remains unwavering, with measurable reductions in [specific metrics, e.g., greenhouse gas emissions, water usage].
- Social Responsibility: Our efforts extend beyond environmental impact. We are proud to report on our initiatives to support local communities, promote diversity and inclusion within our workforce, and uphold ethical business practices throughout our supply chain.
- Innovation and Collaboration: Innovation is at the heart of our sustainability strategy. We continue to collaborate with partners, stakeholders, and industry leaders to pioneer new solutions that address global sustainability challenges.
- Transparency and Accountability: We believe in transparency as the cornerstone of trust. Our report provides a comprehensive overview of our performance, backed by verified data and aligned with international standards.
