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    KFH   KW0EQ0100085

KUWAIT FINANCE HOUSE K.S.C.P.

(KFH)
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Kuwait Finance House K S C P : KFH Supports the First Carbon Offset Platform in Kuwait

11/29/2021 | 12:10am EST

Kuwait Finance House "KFH" signed a strategic partnership with Sidra Initiative and Green Dream Team under the umbrella of (KFH is Green) campaign. This activity comes as part of its efforts to protect environment and achieve the plantation and greening of Kuwait as part of its social responsibility.

This strategic partnership aims to spread awareness on the significance of reserving environment and plantation. The partnership comprises several environment projects and activities in the field of tree plantation and the elimination of carbon emissions.

The partnership aims to unify efforts to increase greenery in Kuwait and encourage environment friend initiatives. Also, through this kind of initiatives, KFH can support UN Sustainable Development Goals which are compatible with Kuwait's 2035 vision.

KFH Assistant Manager - Public Relations, Fahad Al Saad said: This agreement represents an integral part of KFH strategy which aims to continue efforts to achieve a sustainable impact for its social initiatives and contributions, thus reflecting the bank's interest in various issues namely the environment issue. Through these initiatives, we expect KFH to be the main supporter to preserve Kuwait environment and enhance environmental culture among society members and to encourage them to protect environment.

From his side, Shibeeb Alajmi, Green Dream Team Leader said that "A strategic partnership has been signed with KFH to support biological diversification in the State of Kuwait and increase plantation of wild trees in natural reserves. We thank KFH for this initiative and wish you all prosperity and success"

The founder of Sidra Initiative, Khaled Alwaqqyan expressed his pleasure in signing the strategic partnership with KFH. He said "Through this partnership we shall establish the first Carbon Offset Platform in Kuwait. We shall initially mitigate carbon emissions by increasing trees plantation and other future environmental projects will follow later"

The Carbon Offset Platform designed by "Sidra" is considered as a center to facilitate the plantation of trees by giving all individuals and institutions an equal opportunity to participate in this project.

To crown this strategic partnership among KFH, Sidra and Green Dream, KFH is participating in the initial stage of this project by planting 500 trees including 3 years maintenance, which is the average nursing period required for the tree to be self-sufficient.

KFH plans to exert more efforts in the coming stages to plant more trees and organize similar initiatives. To this end, KFH has encouraged all its employees in addition to the voluntary team to participate in the tree plantation campaign in Abdali reserve as determined by the Public Authority for Agriculture and Fishery Affairs.

It is worth mentioning that KFH has participated recently with the Public Authority for Agriculture in supporting the tree plantation and greening campaign for the agricultural season 2021/ 2022. The partnership is considered as part of the tree plantation and greening campaign of Kuwait areas. Also, KFH has participated with the authority, in the opening day, in the plantation of Sider trees and participated in other events within the same campaign.

Disclaimer

Kuwait Finance House KSC published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 05:09:06 UTC.


ę Publicnow 2021
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Sales 2021 798 M 2 636 M 2 636 M
Net income 2021 233 M 770 M 770 M
Net Debt 2021 - - -
P/E ratio 2021 32,5x
Yield 2021 1,95%
Capitalization 7 581 M 24 962 M 25 044 M
Capi. / Sales 2021 9,50x
Capi. / Sales 2022 8,71x
Nbr of Employees 15 000
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Last Close Price 0,91 KWD
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Abdulwahab Essa Abdulwahab Al-Rushoud Group Chief Executive & Treasury Officer
Shadi Ahmed Yacoub Zahran Group Chief Financial Officer
Hamad Abdulmohsen Hamad Al-Marzouq Chairman
Srood Amed Sherif Group Chief Information Officer
Abdullah Mohammed Abdullah Al-Haous Group Chief Operations Officer
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