International Financial Advisors Holding delivered a credible inaugural FY2025 ESG report as a Kuwaiti investment holding company, aligning to multiple frameworks (Boursa 2026, GRI 2021 in-accordance, IFRS S1&S2, SASB, TCFD, CDP) and establishing first-year baselines including a ~17.9 tCO₂e Scope 2 footprint. Governance is the strongest pillar, anchored by full CMA/Boursa compliance with zero material fines, a Fatwa & Sharia Supervisory Board over its Takaful subsidiary, 100% Code of Conduct certification, a whistleblowing policy, and a board with ~40% independence and 20% female representation (chairing the Audit Committee). Environmental and social performance is early-stage but honest about gaps: no Scope 3, no reduction targets, no operational water/waste metrics, no formal OHS or D&I policies, and no supplier code — most flagged as explicit forward priorities. The company demonstrates genuine climate awareness through a TCFD-aligned framework and a significant Um Al-Hayman wastewater JV (500,000 m³/day) supporting climate adaptation, though scenario analysis and financed-emissions reporting remain undeveloped. Overall, IFA Holding shows solid governance maturity and transparent baseline-setting, with substantial headroom to build measurable environmental and social systems from FY2026.
Strengths
Strong governance foundation: full CMA Kuwait and Boursa Kuwait compliance with zero material fines or sanctions, Sharia Supervisory Board oversight of the Takaful subsidiary, ~40% board independence and 20% female board representation (female Audit Committee chair).
Comprehensive ethics and integrity infrastructure: Ethics/Anti-Corruption/AML-CFT framework, 100% workforce Code of Conduct certification, and a protected confidential whistleblowing policy.
Credible inaugural multi-framework ESG report (GRI in-accordance, IFRS S1&S2, TCFD, SASB, CDP) with full Boursa and GRI content indices, a stakeholder-informed 14-topic materiality assessment, and a TCFD-aligned climate-risk framework supported by a major wastewater-treatment infrastructure JV.
Areas for Improvement
Environmental metrics and targets: develop Scope 3/financed-emissions estimation (planned FY2026), set quantified emission and energy-reduction targets, add intensity metrics, and pursue external GHG assurance and scenario analysis (1.5°C/2°C).
Operational E&S systems: establish and disclose operational water/waste metrics and policies, a formal Occupational Health & Safety policy and management system with LTIFR/near-miss tracking, and quantified training hours and investment.
Investment and supply chain ESG depth: extend ESG integration to social due diligence, publish a Supplier Code of Conduct with ESG screening and local-procurement percentages, adopt a standalone D&I policy with numeric targets and pay-equity analysis, and build portfolio-level sustainable-finance data and impact reporting.
Performance Overview
Subcategory Radar
14 subcategories · 0–10
Pillar Contribution
of 52.05 total
52.0
Total
Environmental
8.3 / 20 · 15.9%
Social
12.75 / 30 · 24.5%
Governance
31 / 50 · 59.6%
Subcategory Treemap
Size = weight · Color = pillar
G16.8
Transparency & ESG · W:15
G26.8
Compliance with ESG · W:10
G35
Sustainable Finance & · W:10
G45.5
Board Diversity & · W:10
S14
Community Investment & · W:9
S36
Diversity, Inclusion & · W:9
E14
Carbon Emissions Reduction · W:8
E24
Energy Efficiency & · W:6
S23.5
Workplace Well-being & · W:6
G57.3
Ethics & Anti-Corruption · W:5
E35.5
Climate Change Adaptation · W:4
S43
Education & Sustainability · W:3
S52.5
Sustainable Supply Chain · W:3
E42.5
Water & Waste · W:2
Pillar Details
4.15
out of 10
Achievement42%
Contribution8.3 / 20
Weight20%
Subcategories4
E1
Carbon Emissions Reduction
4
/10
Weight: 8
40% achievement
E2
Energy Efficiency & Renewable Energy
4
/10
Weight: 6
40% achievement
E3
Climate Change Adaptation
5.5
/10
Weight: 4
55% achievement
E4
Water & Waste Management
2.5
/10
Weight: 2
25% achievement
Score Calculation
1
Pillar Scores
E: 4.15 S: 4.25 G: 6.20
Weighted averages (0\u201310)
→
2
Apply Weights
52.05
(4.15×2)+(4.25×3)+(6.20×5)
E:20% S:30% G:50%
→
3
R&C Deduction
−0.00
No controversies
→
4
Final Score
52.05
Range: 50–59.99
→
★
Rating
BB
Mnakh Index Rating
ESG Activities
Activity Summary
2 activities in 2026
Environmental
0
Social
1
Governance
1
Counted once per program · Mnakh-verified distinct deliveries counted separately · third-party records excluded
IFA Elects New Board with Independent and Female Directors
IFA Holding held its Ordinary General Assembly on 10 September 2026, where shareholders elected the board of directors for a new three-year term covering 2026 to 2029. The elected board comprises five members, including one female director and two independent directors, with a non-executive chairman and a non-executive vice-chairman, alongside three alternate members. IFA stated that the new board formation has no effect on its financial position.
3 years (2026–2029) Board term5 Elected board members2 Independent directors
SS128 Jul 2026
IFA Contributes to Kuwait Emergency Response Fund
IFA Holding's board approved, by circulation, a one-time contribution of USD 1,000,000 (equivalent to KWD 308,000) to the Kuwait Emergency Response Fund, an initiative launched by the Kuwait Fund for Arab Economic Development to strengthen the country's emergency preparedness and response capacity. IFA stated the contribution forms part of its national and corporate social responsibility commitments. The expense will be recognised as a one-off item in the consolidated financial statements for the third quarter of 2026.
