Latest news with #corporateSocialResponsibility
Al Bawaba
22-06-2025
- Business
- Al Bawaba
Boursa Kuwait champions solidarity on World Refugee Day
Reaffirming its commitment to social and humanitarian responsibility, Boursa Kuwait lit its building in blue in a symbolic gesture of solidarity with refugees worldwide on World Refugee Day, observed annually on June 20. Marking the occasion for the fifth consecutive year, the company continues to highlight humanitarian crises and advocate for the most vulnerable communities, underscoring its dedication to corporate social responsibility and alignment with the United Nations Sustainable Development Goals. This year's World Refugee Day is held under the theme of 'Solidarity with Refugees,' serving as an open call to the international community, particularly the private sector, to show their support refugees through tangible initiatives that empower them to rebuild their lives amid growing global challenges from the rise in forced displacement to the decline in humanitarian funding. 'Boursa Kuwait's participation in World Refugee Day reflects its strong belief in the vital role of the private sector in driving positive, sustainable change. Through its strategic partnership with the United Nations High Commissioner for Refugees (UNHCR), the company continues to support impactful initiatives and institutional partnerships that empower refugees to meet their basic needs—including cash assistance, education, and healthcare,' said Mr. Naser Al-Sanousi, Boursa Kuwait's Senior Director of Marketing and Communication. 'Boursa Kuwait remains committed to raising community awareness and fostering a culture of solidarity, social responsibility and meaningful giving that contributes to the development of more inclusive and equitable societies,' he added. To mark the occasion, Boursa Kuwait announced the continuation of its strategic partnership with the United Nations High Commissioner for Refugees (UNHCR), reaffirming its ongoing support for the agency's initiatives across the region. Since 2020, the bourse has helped deliver aid to more than 1,980 refugee families through various relief programs, including winter assistance, education and emergency response. In 2025, Boursa Kuwait supported UNHCR's cash assistance and protection program, empowering refugees and displaced persons to meet their essential living needs with dignity. This initiative reflects the bourse's ongoing commitment to adopting best-in-class practices in corporate sustainability, governance, environmental and social responsibility (ESG). 'On World Refugee Day, let us remember that solidarity with refugees is a humanitarian duty—an act of extending support to people who have been forced to flee their homes and countries due to circumstances beyond their control. By opening our doors and listening to their stories—stories that blend pain with hope—we affirm the importance of supporting initiatives that empower them and facilitate their integration into host communities,' said UNHCR Representative in Kuwait Ms. Nisreen Rubaian. 'I would like to extend my heartfelt thanks to Boursa Kuwait for its continued support of refugee families across the Middle East and North Africa, especially recognizing the bourse's backing of initiatives dedicated to unaccompanied children and its efforts to amplify the noble message and objectives of World Refugee Day. I urge everyone to unite in building a more welcoming world for refugees, one that offers dignity, hope and the promise of a brighter, more sustainable future,' added Rubaian. The Office of the United Nations High Commissioner for Refugees (UNHCR) is a global organization committed to saving lives, protecting rights, and building a better future for people forced to flee their homes due to conflict and persecution. As the UN Refugee Agency, UNHCR leads international efforts to safeguard the rights and well-being of refugees and forcibly displaced communities around the world. The initiative forms part of Boursa Kuwait's efforts to create a lasting meaningful impact on the community as part of its Corporate Sustainability strategy, and is in line with Goal 1 – No Poverty, Goal 2 – Zero Hunger, Goal 3 – Good Health and Well-Being, Goal 4 – Quality Education, Goal 6 – Clean Water and Sanitation, Goal 10 – Reduced Inequalities and Goal 17 – Partnership for the Goals - of the UN's Sustainable Development Goals (SDGs). Boursa Kuwait's Corporate Sustainability strategy stipulates ensuring initiatives apply and fall in line with the company's corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, in order to achieve longevity and an ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange. As part of the strategy, Boursa Kuwait has launched many initiatives in partnership with local and international organizations, focusing on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women, and environmental protection.
Harvard Business Review
18-06-2025
- Business
- Harvard Business Review
The Promises, Pitfalls, and Trade-offs of the Circular Economy
Most businesses are built on a linear model: take, make, and discard. But that norm is reaching its limits, and leaders are under pressure to find smarter, more sustainable ways to operate. Weslynne Ashton is a systems scientist and professor at the Illinois Institute of Technology. In her masterclass at HBR's 2024 Leaders Who Make a Difference conference, she explains how companies can shift to a circular economic strategy. One that reduces waste, reinvests in communities, and creates long-term value. She shares how businesses around the world are rethinking products, partnerships, and growth itself to build more resilient, regenerative business models. Key episode topics include: environmental sustainability, corporate social responsibility, ESG, climate change, business models, strategy, competitive strategy HBR On Strategy curates the best conversations and case studies with the world's top business and management experts, to help you unlock new ways of doing business. New episodes every week
Al Bawaba
18-05-2025
- Business
- Al Bawaba
Waha Capital Delivers Strong First Quarter Performance with Net Profit Attributable to Shareholders of AED 81 Million
Waha Capital PJSC, an Abu Dhabi-listed investment management company (ADX: WAHA), reported net profit attributable to shareholders of AED 81 million, translating to a return on average equity of 7.8%. This was supported by gains in the company's public markets business, value realisation from the Private Investments portfolio, and steady rental income from Waha Land. During the first quarter, the company's total income stood at AED 330 million, demonstrating an ability to deliver consistent earnings across market cycles through the balanced contribution of all three business pillars. The company's total assets under management (AUM) stood at AED 12.3 billion as of 31 March 2025, an increase of 2.9% from AED 11.9 billion at the end of 2024, supported by strong inflows of third-party capital into Waha Investment's funds. In recognition of Waha Capital's multi-year track record of achievement, the company was ranked among Forbes Middle East's Top 40 Asset Managers in 2025 for the fourth consecutive year. Meanwhile, Waha Capital continued to activate corporate social responsibility initiatives aligned with the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty) and SDG 2 (Zero Hunger). In collaboration with the Authority of Social Contribution - Ma'an, Waha Capital supported two impactful Ramadan initiatives aimed at helping underprivileged communities in Abu Dhabi and Al Ain. The Food ATM initiative provided subsidized Iftar meals for blue-collar and low-income workers, while the Nourishment for Goodness initiative supported low-income families through food basket distributions and the renovation of homes to improve living conditions. Waha Investment Highlights Waha Investment, the wholly owned asset management subsidiary of Waha Capital, recorded net profit of AED 91 million in the first quarter of 2025. This was supported by recurring fee income, as third-party AUM increased to AED 7.2 billion as of 31 March 2025 from AED 6.0 billion a year earlier. Today, third-party AUM is diversified across a broad base of regional and global clients, including sovereign wealth funds, pension funds, insurance companies, private banks, family offices, and high net worth individuals. The flagship Waha Emerging Markets Credit Fund, which pursues diverse long-short strategies in emerging markets fixed income, has now recorded a cumulative net return of 270.7% since its inception in 2012, in comparison to the 66.4% return of its benchmark, the JPMorgan EMBI Global Diversified Index. The Waha MENA Equity Fund has produced a cumulative net return of 383.3% since its inception in 2014, significantly outperforming its benchmark S&P Pan Arab Composite Index, which posted a return of 85.8% in the same period. Meanwhile, the Waha Islamic Income Fund, which is focused on global sukuk and Shari'ah-compliant equities, has recorded a cumulative net return of 29.0% since its inception in 2020, compared to 6.0% for its reference, the Dow Jones Sukuk Index. Private Investments Highlights The Private Investments business, which follows a flexible, multi-asset strategy across sectors and geographies, delivered net profit of AED 16 million in Q1 2025. This was primarily driven by the successful partial strategic exit from one of its investments. While the broader portfolio was affected by continued mark-to-market volatility across asset classes and regions, the underlying assets remain well-positioned to create value over the investment cycle. Waha Health, Waha Capital's wholly owned healthcare platform, reached a key milestone with the announced expansion of Orchid Fertility, one of Dubai's fastest-growing IVF clinics. The new, purpose-built facility, set to officially open on 21 May, reflects rising patient demand and the clinic's growing team of medical specialists. With a 71% success rate, well above the international average, Orchid embodies Waha Capital's strategy of investing in high-growth, high-impact sectors while supporting the UAE's ambition to develop a world-class healthcare ecosystem. As of 31 March 2025, the Private Investments team managed AED 628 million in assets and remains focused on disciplined capital deployment, opportunistic exits, and maximizing shareholder value through selective new investments and active portfolio management. Waha Land Highlights Waha Land, a wholly owned subsidiary of Waha Capital, reported net profit of AED 11 million in Q1 2025, representing 10% growth versus the same period last year. The company's flagship industrial development, ALMARKAZ, continues to benefit from strong leasing momentum and a diversified, high-quality tenant base, with occupiers from sectors including oil & gas, manufacturing, and logistics. Stages 1 and 2A are nearly at full occupancy, with almost 100% leasing across a combined 180,400 m² of space. Stage 2B, completed in Q1 2024, introduced an additional 75,600 m² of high-specification industrial units and has already reached 76% occupancy. Waha Land remains focused on unlocking further value from the ALMARKAZ platform, including evaluating potential monetization of income-generating assets. This strategy is aligned with rising market demand for logistics and light industrial facilities, supported by Abu Dhabi's economic diversification and the UAE's role as a growing hub for regional trade.
Jordan Times
07-05-2025
- Business
- Jordan Times
PM hails JEPCO's 5% profit allocation to CSR
Prime Minister Jafar Hassan on Wednesday commends the Jordan Electric Power Company (JEPCO) for allocating 5 per cent of its profits to support key sectors such as education, health and public transportation (Petra photo) AMMAN — Prime Minister Jafar Hassan on Wednesday commended the Jordan Electric Power Company (JEPCO) for allocating 5 per cent of its profits to support key sectors such as education, health, and public transportation. During a meeting with JEPCO Chairman Othman Badir and Director General Hassan Abdullah, the prime minister underscored the importance of institutionalising corporate social responsibility (CSR) to ensure sustained support for vital national sectors, the Jordan News Agency, Petra, reported. Abdullah emphasised that CSR should be permanent, institutionalised and implemented through a cross-government approach based on a partnership triangle involving the public sector, private sector and local communities. Abdullah also reviewed JEPCO's current efforts and future plans to enhance the quality of services, in line with the Economic Modernisation Vision. Badir reiterated the company's commitment to advancing its social responsibility initiatives in alignment with government strategies aimed at improving services provided to citizens. The social responsibility initiative was launched in March. The Association of Banks in Jordan pledged JD90 million over three years to support the health and education sectors. The Jordan Phosphate Mines Company followed with a JD40 million commitment, while the Jordan Petroleum Refinery Company and the Jordan Duty Free Shops each pledged 5 per cent of their annual profits. The Arab Potash Company also joined the initiative, contributing JD30 million.
