Investor Presentaiton
PUBLIC
NBK Sustainable Financing Framework
Expanding our sustainable financing activities in line with industry leading practices and standards.
NBK established a Sustainable Financing Framework to support and advance NBK's goal to integrate critical ESG issues into the business, culture and
operations, thereby advancing the transition to a sustainable and low carbon economy and contributing to achieve New Kuwait 2035 vision.
Use of Proceeds
Under this framework, an amount equivalent to the net proceeds from NBK's
sustainable financing instruments will be used to finance or re-finance, in part
or in full, Eligible Assets with social or environmental benefits:
Green Assets, including but not limited to: Renewable Energy,
Energy Efficiency, Sustainable Water, Green Buildings.
Social Assets, including but not limited to: Healthcare & Education,
Access to Essential Services, Affordable Housing.
Project Evaluation & Selection
NBK has established a Sustainable Financing Working Group to govern the
selection and monitoring of the Eligible Assets in accordance with the eligibility
criteria defined by the Sustainable Financing Framework.
The Sustainable Financing Working Group will be chaired by a member of
Senior Management and consist of senior members from Finance, Treasury,
Risk Management, Sustainability, and Investor Relations.
Management of Proceeds
NBK's Finance and Treasury teams will manage the allocation of an amount
equivalent to the net proceeds of its Sustainable Financing Instruments to
Eligible Assets using a portfolio approach.
NBK will follow the process described in the Sustainable Financing Framework
along with its professional judgement, discretion, and sustainability expertise
when identifying the Eligible Assets.
Reporting
NBK commits to publish an allocation and impact report annually, and until full
allocation of the proceeds, and in the event of any material changes until the
relevant maturity date.
NBK will request on an annual basis, starting one year after issuance and until
full allocation, an assurance report on the allocation of the Sustainable
Financing Instrument proceeds to eligible assets, provided by its external
auditor.
NBK Sustainable Financing Framework has been externally verified with a Second Party Opinion (SPO) by S&P Global to confirm alignment with the ICMA 2021 Green
Bond Principles, ICMA 2021 Social Bond Principles, ICMA 2021 Sustainability Bond Guidelines, LMA 2021 Green Loan Principles and LMA 2021 Social Loan Principles.
Use of Proceeds
Strong
Project Evaluation & Selection Aligned
Management of Proceeds
Aligned
Reporting
Aligned
National Bank of Kuwait 15View entire presentation