KAMCO Invest

شركة كامكو إنفيست
BBB RatingFinancial ServicesMain Market Financial Services2025 AssessmentABBB
www.kamcoinvest.comMSM v2.1· 154 Criteria
BBB
Mnakh Rating
67.0
/ 100
Environmental20%
5.20
52% achievement · 4 subcategories
-1.35 vs 2024
Contributes 10.4 / 20
Social30%
7.10
71% achievement · 5 subcategories
-0.15 vs 2024
Contributes 21.3 / 30
Governance50%
7.05
71% achievement · 5 subcategories
-0.35 vs 2024
Contributes 35.25 / 50
BBB · 67.0
CC
0–29.99
CCC
30–39.99
B
40–49.99
BB
50–59.99
BBB
60–69.99
A
70–79.99
AA
80–89.99
AAA
90–100
Sector Rank
#7 / 21
/ 21 · Financial Services
Overall Rank
#13
of 46 assessed
Strongest Pillar
S 7.10
Social · 71%
R&C Deduction
0.00
No controversies
Sector Peers — Financial ServicesTop 5 of 21
1
National Bank of Kuwait
87.8
AA+
2
Kuwait Finance House
82.7
AA
3
Burgan Bank
82.3
AA
4
Boursa Kuwait
81.9
AA
5
Boubyan Bank
80.2
AA
Key Findings

Executive Summary

KAMCO Invest Co presents a well-structured 2025 sustainability report reflecting solid performance across social and governance pillars, with particular strength in gender diversity (40% female board, 43% female executives), multi-jurisdictional regulatory compliance, and a broad community investment program anchored by UNGC participation and WEPs signatory status. The environmental pillar represents the company's most significant development opportunity, with basic GHG disclosure across all three scopes and resource data in place but no formal reduction targets, no renewable energy, no TCFD or climate risk framework, and a reliance on estimated rather than metered data throughout. Governance reporting is mature with 6+ frameworks referenced, a stakeholder-engaged materiality assessment, and a comprehensive ethics infrastructure including zero corruption incidents, though the absence of external sustainability assurance and below-threshold board independence constrain top-tier scores. Supply chain and training practices demonstrate meaningful ESG integration beyond compliance, and responsible investment principles are embedded in the investment decision-making matrix, though sustainable finance product development remains an early-stage ambition. Overall, KAMCO Invest demonstrates a financial services company that has built credible ESG foundations but has clear headroom to advance through target-setting, external verification, and deeper environmental management.

Year-over-Year Analysis

vs 2024

KAMCO Invest's 2025 ESG performance reflects continued solid execution on social and governance dimensions relative to prior year baselines, with the Environmental pillar showing improved disclosure depth — notably full three-scope GHG reporting and expanded resource tracking — though starting from a low absolute base with no targets or external assurance. The Social pillar maintained its strong position driven by internship program growth (~75% YoY), sustained gender diversity metrics, and expanded community programming, while the Governance pillar demonstrated stable compliance and reporting infrastructure with the addition of expanded framework references. The most material constraint on overall progress relative to prior year is the Environmental pillar, where disclosure has improved incrementally but the absence of reduction targets, climate risk frameworks, and renewable energy keeps absolute scores modest. No subcategory shows evidence of meaningful regression; rather, the trajectory is one of steady improvement across all three pillars with the Environmental pillar offering the largest potential score uplift in the near term.

Environmental

The Environmental pillar showed incremental improvement driven by more detailed three-scope GHG disclosure with restatement methodology, expanded resource tracking (water, multiple waste streams), and quantified digitalization-linked conservation savings via DocuSign, though the absence of reduction targets, renewable energy, and TCFD alignment continues to cap scores at basic-to-intermediate levels. The pillar has the most room to grow and would benefit most from target-setting and climate risk integration.

Social

The Social pillar maintained strong performance relative to prior year, with the internship program growing significantly to 79 interns (from 44 in 2024), sustained 40% female board representation, expanded community programming aligned to multiple SDGs, and increased training hours — confirming that social commitments are being operationalised rather than merely reported. The primary gap from prior year remains the absence of pay equity data and SROI methodology, which limits further score advancement.

Governance

Governance scores remained broadly stable year-over-year, reflecting continued strong compliance infrastructure, zero corruption incidents, and multi-framework reporting discipline, with the GRI content index and UNGC CoP submission maintained as anchors of reporting quality. The below-threshold board independence ratio of 20% is a structural constraint that persisted from prior year and is the single most impactful governance improvement opportunity available.

Key Improvements
E1: Full three-scope GHG disclosure with restatement methodology and expanded Scope 3 tracking — The 2025 report discloses Scope 3 emissions of 172t (up from a restated 52.8t in 2024) with explicit GHG Protocol alignment and documented plans to expand Scope 3 categories, indicating material progress in emissions accounting depth beyond prior year reporting.
E4: Expanded resource tracking with quantified digitalization conservation metrics — DocuSign usage conserved 14,522 gallons of water and eliminated 801 lbs of waste in 2025 (up from 12,355 gallons and 681 lbs in 2024), and the report added paper cups and tissue boxes to material stream tracking, demonstrating expanded resource management disclosure.
S1: Internship program grew ~75% YoY to 79 interns with increased female representation — The 2025 internship cohort expanded from 44 to 79 interns with 44% female participation and 4 new hires from the program, supported by new partnerships including AIESEC, reflecting a materially scaled community investment pipeline.
S4: Training hours increased 14.4% YoY to 1,701 hours across 59 structured sessions — Total training man-hours rose from 1,487 in 2024 to 1,701.45 in 2025 with documented AML (414.5 hours) and cybersecurity (160.85 hours) training tracked as governance KPIs, indicating growing investment in structured employee development.
G1: Multi-framework reporting maintained with expanded ILO checklist and WEPs integration — The 2025 report references 6+ distinct frameworks including the ILO forced labor checklist and WEPs signatory status alongside GRI, Boursa Kuwait ESG, UNGC, and UN SDGs, demonstrating sustained and expanded reporting framework coverage relative to prior year.
Key Regressions
S5: Local procurement ratio declined from 73% to 61% YoY — The 2025 report discloses local procurement at KWD 3.94mn (61%) compared to 73% in 2024, a material 12-percentage-point decline that reduces the local economic contribution indicator, though the absolute procurement value and supplier screening framework remained intact.
Outlook

KAMCO Invest's ESG trajectory is positive but requires deliberate action on Environmental target-setting and climate risk disclosure to close the gap between its advanced social and governance performance and its basic environmental posture. The clearest near-term catalysts for score improvement are establishing quantified GHG reduction targets, obtaining third-party sustainability assurance, expanding Scope 3 coverage, and developing a TCFD-aligned climate risk framework — steps the company has flagged as future reporting intentions.

Strengths

Exceptional gender diversity with 40% female board representation and 43% female executive management — highest among regional peers — supported by WEPs signatory status (first investment company in Kuwait) and KWEEP partnership, demonstrating institutional commitment to gender equality beyond reporting.
Comprehensive multi-jurisdictional regulatory compliance spanning CMA Kuwait, CBK, DFSA UAE, and Saudi CMA, with zero violations across 13 compliance categories, a Board-approved ethics and AML framework, confidential whistleblowing, and a Governance maturity self-assessment of 100% (Advanced).
Structured ESG reporting framework referencing 6+ standards (GRI with full content index, Boursa Kuwait ESG, UN SDGs, UNGC with annual CoP, WEPs, GHG Protocol, ILO checklist) with a stakeholder-engaged materiality assessment, multi-year data with restatements, and full three-scope GHG disclosure — among the most comprehensive in Kuwait's investment management sector.

Areas for Improvement

Establish formal, quantified GHG reduction targets with baselines and timelines, expand Scope 3 coverage beyond business travel to include purchased goods/services, employee commuting, and financed emissions, and obtain external assurance on sustainability data — all of which would materially elevate environmental and reporting scores.
Develop and publish a formal climate risk management framework incorporating TCFD-aligned scenario analysis, physical and transition risk assessment, and Paris Agreement alignment, addressing the current explicit disclosure that no financial climate risks have been identified — which is the company's weakest ESG element.
Increase board independence from the current 20% to at least 33%, disclose pay equity analysis (GRI 405-2), publish anti-corruption training completion rates, and develop quantified ESG training hours per employee by gender and level, as these specific data gaps are the primary barriers preventing top-tier governance and social scores.
Performance Overview
Subcategory Radar
14subcategories · 0–10
E1E2E3E4S1S2S3S4S5G1G2G3G4G5
20252024
Pillar Contribution
of 66.95 total
67.0
Total
Environmental
10.4 / 20 · 15.5%
Social
21.3 / 30 · 31.8%
Governance
35.25 / 50 · 52.7%
Subcategory Treemap
Size = weight · Color = pillar
G17.5
Transparency & ESG · W:15
G27
Compliance with ESG · W:10
G36.5
Sustainable Finance & · W:10
G46.5
Board Diversity & · W:10
S17
Community Investment & · W:9
S37.5
Diversity, Inclusion & · W:9
E16
Carbon Emissions Reduction · W:8
E24.5
Energy Efficiency & · W:6
S27
Workplace Well-being & · W:6
G58
Ethics & Anti-Corruption · W:5
E35
Climate Change Adaptation · W:4
S46.5
Education & Sustainability · W:3
S57
Sustainable Supply Chain · W:3
E44.5
Water & Waste · W:2
Pillar Details
5.20
out of 10
Achievement52%
Contribution10.4 / 20
Weight20%
Subcategories4
E1
Carbon Emissions Reduction
6
-1.5 vs 2024
/10
Weight: 8
60% achievement
E2
Energy Efficiency & Renewable Energy
4.5
-0.5 vs 2024
/10
Weight: 6
45% achievement
E3
Climate Change Adaptation
5
-1.5 vs 2024
/10
Weight: 4
50% achievement
E4
Water & Waste Management
4.5
-1.5 vs 2024
/10
Weight: 2
45% achievement
Score Calculation
1
Pillar Scores
E: 5.20
S: 7.10
G: 7.05
Weighted averages (0\u201310)
2
Apply Weights
66.95
(5.20×2)+(7.10×3)+(7.05×5)
E:20% S:30% G:50%
3
R&C Deduction
0.00
No controversies
4
Final Score
66.95
Range: 60–69.99
Rating
BBB
Mnakh Index Rating
ESG Activities
Activity Summary
2 activities in 2026
Environmental
0
Social
0
Governance
2

Recent Activities

View all →
GG119 May 2026

KAMCO Publishes 2025 Sustainability Report

KAMCO Invest Co released its 2025 Sustainability Report on 19 May 2026, titled 'Single Actions to Sustainable Systems,' covering the company's ESG performance across environmental, social, and governance dimensions. The report was developed in alignment with GRI Standards, the UN SDGs, Boursa Kuwait ESG indicators, and the Kuwait National Development Plan ESG pillars. Key disclosures include a Kuwaitization rate of 51%, 79 internship participants (up from 44 in 2024), 61% local procurement, and the company's new membership in the KIPCO Group ESG Committee.

GRI Standards Reporting frameworkUN SDGs, Boursa Kuwait ESG indicators, Kuwait National Development Plan ESG pillars Additional frameworks aligned51% Kuwaitization rate
KIPCO Group ESG Committee, Kuwait Projects Company Holding (blood donation drive)
GG415 Apr 2026

KAMCO Holds Annual General Meeting for Fiscal Year 2025

KAMCO Invest Co held its Annual General Meeting on 15 April 2026 for the fiscal year ended 31 December 2025, during which shareholders approved all agenda items including a 10% cash dividend distribution of KWD 3.4 million. Shareholders elected the Board of Directors for the next three-year term, comprising six members including two independent directors, and the newly elected Board subsequently appointed its Chairman, Vice Chairman, and formed Board committees.

6 Board members elected2 Independent directors3 Board term (years)
Methodology: MSM v2.1 · 154 CriteriaAssessment: 2025Weights: E:20% · S:30% · G:50%