UNDP and KFH Hosted a Sustainable Finance Workshop for Senior Management

18 – 19 June 2023, Kuwait, United Nations Development Programme Istanbul International Center for Private Sector in Development (UNDP ICPSD), in collaboration with UNDP Regional Bureau for Arab States (RBAS) and UNDP Kuwait Country Office organized a two-day workshop on sustainable finance for KFH senior management to advance the integration of sustainability into its practices and decision-making. The workshop brought together theory and practice by world-leading experts.

Moises Venancio, Resident Representative of UNDP Kuwait, expressed his gratitude for the partnership between UNDP and KFH, stating that KFH has long been a global pioneer in Islamic finance. He added that the workshop aims to give KFH a head start on its sustainability journey by improving the team’s knowledge and understanding of the SDGs and sustainable finance, thematic/green sukuks, impact measurement and management practices, and available standards and benchmarks. Venancio further stressed that the workshop represents UNDP’s commitment to supporting the private sector in contributing to the global, regional, and national levels of the SDG agenda. He acknowledged that KFH and many other banking institutions and companies worldwide actively seek ways to enhance their contributions to the planet’s sustainability and the fight against climate change. The training agenda was specifically designed to integrate the SDGs and sustainability into KFH’s daily portfolio and operations to facilitate the consolidation of these approaches.

Mohammad Alarbeed, KFH Executive Manager Governance and Sustainability, highlighted that the technical workshop for senior executives on sustainable finance is part of the Memorandum of Understanding previously signed with UNDP. The programme helps senior management keep abreast of the latest trends, laws and regulations in sustainability and identify best practices KFH can use. “As part of its integrated sustainability strategy, KFH applies ESG (Environmental, Social and Governance) standards to all its investments and adheres to transparency, financial inclusion and women’s empowerment. This workshop is another strategic initiative for KFH to bolster its position as a sustainable bank and achieve greater alignment with the Sustainable Development Goals (SDGs)”, Alarbeed added. He emphasized that sustainability is indispensable to KFH’s vision and mission. Leveraging sustainability and integrating ESG standards into responsible investment decisions is vital. Thus, the Sustainable Finance workshop is of great importance to KFH’s senior management as it supports them in driving changes in the sustainability strategy and adopting responsible banking practices into the bank’s operations.

This partnership supports KFH in strengthening its efforts to mainstream sustainability and the SDGs into its investment portfolio through SDG impact investment and the expansion of green finance.

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