National Bank of Kuwait

National Bank of Kuwait (NBK), headquartered in Kuwait (KW) and operating in financial intermediation services, except insurance and pension funding services (65), has demonstrated a commitment to reducing its environmental impact.

In 2024, NBK reported total emissions of approximately 29.1 billion kg CO2e. This figure comprises Scope 1 emissions of about 2.8 billion kg CO2e and Scope 2 emissions of approximately 25.0 billion kg CO2e. Scope 3 emissions for the same year were reported at around 1.3 billion kg CO2e, primarily from business travel.

The bank has established ambitious reduction targets. NBK has successfully surpassed its interim target of a 25% reduction in operational emissions (Scope 1 and Scope 2) in Kuwait by 2025, achieving a 28.3% decrease by 2024 compared to a 2021 baseline. Furthermore, NBK is committed to becoming carbon neutral by 2060, aligning with the State of Kuwait's pledge. To support this long-term goal, interim targets include a 25% reduction in gross operational emissions by 2025 through increased reliance on renewable and clean energy solutions and the transformation of local branches into eco-friendly facilities.

NBK's sustainability reports highlight their efforts in managing and reducing their carbon footprint. For instance, in 2023, total emissions were approximately 34.8 billion kg CO2e, with Scope 1 emissions at about 2.5 billion kg CO2e and Scope 2 at roughly 31.1 billion kg CO2e. Scope 3 emissions for 2023 were around 1.2 billion kg CO2e. In 2022, total emissions were approximately 37.2 billion kg CO2e, comprising about 87 million kg CO2e for Scope 1 and a significant portion of around 37.2 billion kg CO2e for Scope 2. Their Scope 3 emissions in 2022 were approximately 646 million kg CO2e.

Previously, in 2021, NBK reported total emissions of approximately 38.9 billion kg CO2e, with Scope 1 at about 276 million kg CO2e and Scope 2 at roughly 38.5