Kuwait City, January 29, 2024: Gulf Bank launched the environmental sustainability initiative "A Step Towards Change,” striving to alter societal behaviors by encouraging the use of reusable bags.The initiative is a collaborative effort with the Environment Public Authority and five cooperative societies in its initial phase, including Al-Dahiya and Al-Mansouriah, Al-Shamiya andShuwaikh, Al-Rawda and Hawally, Kaifan, and Mishref.

Mr. Jassim Mustafa Boodai, Chairman of the Board at Gulf Bank, and a considerable number of executives from the bank's management attended the launch event for the initiative. Dr. Hamad Al-Mutair, Chairman of the Committee for Environmental, Food, and Water Security Affairs in the National Assembly, and Engineer Abdullah Al-Otaibi, representing the General Authority for the Environment, were also in attendance.
Furthermore, the launch event featured the participation of presidents and officials from the cooperative societies engaged in the initiative.

Sustainable Development

At the launch event, Mr. Ahmed Al-Amir, Deputy General Manager of Corporate Communications at Gulf Bank, stated, "Gulf Bank is pleased to announce its achievement in reaching Sustainable Development Goal 17 through the 'A Step Towards Change' initiative. This goal highlights the promotion of implementation methods through collaborations across various public and private sectors, as well cooperative societies. We anticipate that this collaboration will result in the development of governmental policies and laws, that reinforce and enhance the efforts of the private sector and civil society, in safeguarding Kuwait's environment by minimizing plastic usage."

2025 Strategy

Al-Amir expressed, "The initiative is integral to Gulf Bank's 2025 strategy, centered on strengthening environmental, social, and governance (ESG) sustainability principles. It aligns with Kuwait’s environmental strategy outlined in the 'New Kuwait 2035' vision, accompanied by relevant environmental legislation addressing resource conservation, pollution reduction, environmental safety, ecosystem rehabilitation, biodiversity protection, waste management efficiency, renewable energy utilization, and the advancement of national capabilities in environmental initiatives."

He highlighted the bank's significant role in instilling environmental sustainability principles within the community through the launch of impactful initiatives. He stated, "Understanding that a thousand-mile journey begins with a single step, we considered it fitting to launch this initiative with a specific group of prominent cooperate societies in Kuwait. Approximately 100,000 reusable bags will be distributed to participants, representing the initial move towards transforming behaviors and culture, seamlessly integrating the habit into their daily routines."

Sustainability Milestones

The Amir highlighted that the bank's commitment to integrating sustainability principles, both internally and externally, was emphasized with the publication of the third annual Sustainability Report. This report showcased significant accomplishments in the realms of environmental, social, and governance (ESG) initiatives. The bank also launched its 2024/2030 ESG strategy, providing the fundamental framework for sustainability endeavors in the upcoming phase. Additionally, a high-level Sustainability Committee, led by board member Ms. Reem Al-Saleh, was established to oversee the execution of sustainability programs.
Moreover, a comprehensive high-level training initiative for the senior leadership of the bank was launched, intending to prioritize sustainability in all facets of the bank's operations and services.

Al-Amir concluded his remarks by acknowledging the Environmental Authority, the Environmental Affairs Committee in the National Assembly, and the cooperative societies involved in the initiative. He also delivered a closing message, emphasizing, "Preserving Kuwait's environment is a shared responsibility that requires collective collaboration from us all."

Cooperative Societies

The chairmen and officials of the cooperative societies participating in the press conference expressed their appreciation to Gulf Bank for launching this noteworthy initiative, commending its goals aimed at reshaping societal behaviors by encouraging the use of reusable bags.

It is worth mentioning that Gulf Bank, with its Chairman of the Board, Mr. Jassim Mustafa Boodai, and Mr. Ahmed Al-Amir representing the bank, acknowledged and honored the entities involved in the initiative.

Gulf Bank aims to be at the forefront in Kuwait by prioritizing employee engagement within an inclusive and diverse environment. The goal is to provide exceptional customer service while actively contributing to sustainable community development. Leveraging its extensive branch network and innovative digital services, the bank provides customers the flexibility to choose how, and where, they manage their banking transactions, ensuring a seamless and efficient banking experience.

Aligned with its commitment to Kuwait Vision 2035, "New Kuwait," and its collaboration with diverse shareholders to achieve these goals, Gulf Bank is committed to making significant advancements in sustainability across all environmental, social, and governance aspects. This commitment is evident through carefully chosen sustainability initiatives implemented both within and outside the bank.

Dr. Hamad Al-Matar: Thank You Gulf Bank

Dr. Hamad Al-Matar, the Chair of the Environmental, Food Security, and Water Affairs Committee in the Kuwaiti National Assembly, remarked that Kuwait is lacking such ambitious initiatives and expressed gratitude to Gulf Bank for undertaking this initiative. It is evident that the individuals responsible for this initiative fully comprehend the importance of the environment and how to engage with the community.

Additionally, he mentioned that the Environmental Committee is currently in the process of drafting legislation that would mandate government entities, particularly municipalities, to utilize environmentally friendly bags. This proposed legislation will be presented to the Kuwaiti National Assembly for expedited discussion. Emphasizing the significant environmental harm resulting from plastic bags, he highlighted the distinctive challenges that Kuwait encounters, due to its compact size and widespread use of plastic bags.

Dr. Al-Matar continued, stating, "I am pleased and honored to be part of this event, and I am impressed by the professional alignment with sustainable development goals. This indicates that Gulf Bank is in step with global trends in advancing sustainability principles. We encourage all banks and companies to initiate efforts at this level, with the hope that this positive trend will extend to other private sector entities."

The Environment Public Authority: A Distinguished Initiative and a Leading Role by Gulf Bank

Engineer Abdullah Al-Otaibi, the representative of the Environment Public Authority, expressed appreciation to Gulf Bank for its prominent role in the private sector, particularly through its outstanding initiative for environmental sustainability – 'A Step Towards Change.' He highlighted their dedication to collaborating with all relevant entities to ensure the success of this initiative.

In a press statement at the event, Al-Otaibi emphasized the significant environmental awareness among the Kuwaiti people. He highlighted that altering societal behavior and encouraging the use of reusable bags becomes less challenging when appropriate conditions are established.

Moreover, he expressed, "We urge all banks and private sector entities to follow Gulf Bank's lead in introducing top-notch initiatives for environmental protection." Al-Otaibi further highlighted the pressing necessity to decrease the excessive use of plastic, which is having adverse effects on landfills.

Emphasizing the crucial role of the Environment Public Authority in safeguarding the environment, he highlighted its engagement in awareness campaigns and its supervisory role in overseeing violations. The Environment Public Authority actively arranges a variety of workshops and informative lectures for the community.

Bank Employees as Ambassadors for the Initiative

In line with its dedication to promoting sustainability both within and outside the bank, Gulf Bank initiated an awareness campaign among its employees. The campaign underscores the significance of transitioning to reusable bags, urging employees to serve as ambassadors for the initiative within the community.

"A Step Towards Change" Initiative Set to Launch on February 5^th

Ahmed Al-Amir revealed that the official launch of the "A Step Towards Change" initiative is scheduled for February 5^th, 2024, at the Al-Dahiya and Al-Mansouria cooperative society. The initiative's activities will span a week, offering exclusive services to individuals using reusable bags within the cooperative societies. Services include the "Fast Track" service, and the initiative will be accompanied by an awareness campaign across various social media platforms and street advertisements in the specific area of the cooperative society each week. Moreover, engaging competitions for the public are set to be organized.

The Environmental Consequences of Plastic Pollution

The Kuwaiti diving team extracts around 10 tons of plastic waste weekly from the shores of northern and southern Kuwait, including the Kuwaiti islands. Additionally, international reports emphasize that approximately one million seabirds perish annually worldwide, due to plastic ingestion, and certain plastic components take up to 500 years to decompose.