MSCI hosted a webinar entitled “Charting the COVID-19 Crisis” in collaboration with Boursa Kuwait on June 10, 2020, to discuss the impact of the COVID-19 pandemic on the global economy and the investor community. The webinar, which catered to Kuwaiti listed companies and capital market stakeholders, was organized to ensure the sustainability of the local financial market, protect stakeholder rights and minimize the negative effects of the outbreak on investors and stock exchanges.
Shedding light on the economic ramifications of the COVID-19 pandemic on financial markets around the world, the webinar addressed the need to adopt environmental, social and corporate governance (ESG) reporting to assess risks and opportunities, to ensure business continuity and to mitigate the negative impact on capital markets worldwide. Financial markets and factors that led to their decline in performance were also topics of focus, in addition to the importance of the MSCI ESG Index and its contributions in guiding investment decisions for market participants during these challenging times.
Commenting on the webinar, Boursa Kuwait’s Markets Executive Director, Ms. Noura Al-Abdulkareem said: “As one of Kuwait’s key financial institutions, Boursa Kuwait has been taking the necessary and feasible measures since the outbreak of the pandemic to ensure the continuity of our business considering that Boursa Kuwait is one of the most prominent pillars of the economy in the State of Kuwait. In cooperation with our partners in the Kuwaiti capital market apparatus, we have succeeded in adopting robust practices and systems that have contributed to reducing the risks and impacts related to the pandemic. This webinar, organized by MSCI, focused on the importance of complying with environmental, social and corporate governance policies, which help businesses enhance their performance and increase competitiveness in the short and long term.”
Commenting on behalf of MSCI, Robert Ansari – Executive Director and Head of the Middle East, said: “As the global pandemic has evolved through the months, MSCI has been working extensively to publish information and research for the international investment community. MSCI has sought to bring closer its partners in Kuwait and we are pleased to be working with Boursa Kuwait to disseminate this information with the purpose of sharing insight and thought leadership. In partnership with Boursa Kuwait, we will continue to provide as much information as we can to help investors navigate these challenging times while ensuring a number of the global investing trends, such as Environmental, Social and Governance, or ESG, remain important investment themes long after the global Covid-19 pandemic.”
Earlier this year, Boursa Kuwait organized a conference in collaboration with MSCI, aimed at raising awareness of MSCI’s ESG index. In November, MSCI will include Kuwait in its Emerging Market Index review.
The exchange continues to support and launch similar initiatives within the framework of its corporate sustainability strategy, which counts education, society and the environment as its main pillars, along with its continuous endeavor to educate various stakeholders on all aspects of operational excellence and supporting the reputation and advancement of the Kuwaiti capital market.