National Industries Group

شركة الصناعات الوطنية
B RatingFinancial ServicesPremier Market Financial Services2025 AssessmentDB
www.nig.com.kwMSM v2.1· 154 Criteria
B
Mnakh Rating
47.1
/ 100
Environmental20%
2.80
28% achievement · 4 subcategories
▲+2.80 vs 2024
Contributes 5.6 / 20
Social30%
4.83
48% achievement · 5 subcategories
▲+4.83 vs 2024
Contributes 14.49 / 30
Governance50%
5.40
54% achievement · 5 subcategories
▲+5.40 vs 2024
Contributes 27 / 50
B · 47.1
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
#20 / 21
/ 21 · Financial Services
Overall Rank
#35
of 46 assessed
Strongest Pillar
G 5.40
Governance · 54%
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

National Industries Group demonstrates an emerging ESG program anchored in solid governance and social disclosure, but with material gaps on the environmental side. Its strongest areas are workforce diversity reporting, local procurement transparency, and a governance framework aligned with CMA and Boursa Kuwait requirements, supported by an outsourced independent internal audit and zero reported corruption or discrimination incidents. Environmental disclosure is the principal weakness: no GHG emissions inventory, no carbon targets, no TCFD-aligned climate risk assessment, and rising energy and water consumption without intensity metrics or reduction targets. The company reports under GRI Standards with a full content index and a 2025 materiality assessment but relies only on internal verification, lacking external assurance. Overall the company shows a credible foundational sustainability program that would benefit substantially from quantified environmental metrics, formal ESG policies, and third-party assurance.

Year-over-Year Analysis

vs 2024

Prior year (2024) had no recorded ESG scores (all pillars at 0, Rating D), indicating either no prior sustainability reporting or no assessment. The 2025 report therefore represents the company's inaugural or first-assessed ESG disclosure, establishing a baseline across all three pillars. Governance and social disclosures come out strongest, while the environmental pillar remains foundational with significant data gaps. This is a meaningful step forward from a non-reporting baseline, though the absence of prior comparable subcategory data limits granular trend analysis.

Environmental

Environmental scoring rises from a zero baseline as the company now discloses multi-year energy and water consumption and qualitative efficiency and recycling initiatives; however, it remains constrained by the absence of GHG emissions data, intensity metrics, targets, and TCFD-aligned climate risk disclosure.

Social

Social scoring establishes a solid baseline led by detailed diversity metrics (S3), local procurement transparency (S5), and zero-incident safety reporting (S2), though quantified community investment, ESG-specific training, and formal management systems are still lacking.

Governance

Governance scoring emerges strongly from the zero baseline, driven by GRI-based reporting with a full content index, CMA/Boursa Kuwait alignment, an independent outsourced internal audit, and a documented ethics and whistleblowing framework; further gains require higher board independence, female directors, and external assurance.

Key Improvements
S3: Established detailed diversity reporting with gender-by-level, nationality, and Kuwaitization data — The 2025 report discloses 61 employees (~30% female) with job-level gender breakdowns, 15 nationalities, and 14% Kuwaitization plus 2024 comparatives, versus no prior ESG disclosure.
G1: Introduced standalone GRI-based reporting with full content index and materiality assessment — The company published a report aligned to GRI, CMA, Boursa Kuwait, UN SDGs, and IIRC with a 2025 materiality assessment covering 12 topics, establishing a reporting baseline from zero.
G2: Documented a regulatory compliance and internal control framework with zero reported violations — Disclosure of CMA/Boursa Kuwait alignment, the Four Eyes Principle, outsourced independent internal audit, and GRI 205-1 zero corruption cases marks a new governance baseline.
S5: Disclosed multi-year local procurement data showing ~86% local sourcing — The report quantifies local vs international supplier spend for 2024 and 2025 with GRI 414-1 social screening reference, newly establishing supply-chain transparency.
Key Regressions
E2: Energy consumption rose sharply (~74.7% YoY) undermining efficiency claims — Energy consumption increased from 178,000 kWh in 2023/24 to 310,939 kWh in 2024/25 despite stated efficiency commitments and no reduction target, a reporting-boundary/performance concern.
E1: No emissions inventory established despite baseline reporting effort — The 2025 report still discloses no Scope 1/2/3 emissions, carbon footprint, or targets, leaving the most material climate metric absent from the new baseline.
Outlook

As an inaugural ESG reporting cycle, National Industries Group has built a credible governance and social foundation that positions it for steady improvement. Priority next steps are quantifying GHG emissions and environmental targets, pursuing external assurance, and strengthening board diversity and independence to move beyond a foundational baseline.

Strengths

Detailed workforce diversity disclosure including gender breakdown by job level, 15 nationalities, ~30% female workforce, and 14% Kuwaitization with multi-year trends (S3)
Transparent multi-year local procurement data showing ~86% local sourcing with GRI 414-1 social screening reference (S5)
Governance framework aligned with CMA and Boursa Kuwait, featuring an outsourced independent internal audit, Four Eyes internal controls, a Code of Professional Conduct, whistleblower protection, and zero reported corruption incidents (G2, G5)

Areas for Improvement

Establish and disclose a GHG emissions inventory (Scope 1, 2, and ideally 3) with carbon reduction targets and methodology (E1)
Adopt TCFD-aligned climate risk disclosure with scenario analysis and physical/transition risk categorization, and introduce energy/water intensity metrics and quantified reduction targets (E2, E3, E4)
Increase board independence above 25%, add female board representation, and pursue external ESG assurance plus ethics/anti-corruption training completion metrics (G1, G4, G5)
Performance Overview
Subcategory Radar
14subcategories · 0–10
E1E2E3E4S1S2S3S4S5G1G2G3G4G5
20252024
Pillar Contribution
of 47.09 total
47.1
Total
Environmental
5.6 / 20 · 11.9%
Social
14.49 / 30 · 30.8%
Governance
27 / 50 · 57.3%
Subcategory Treemap
Size = weight · Color = pillar
G16.5
Transparency & ESG · W:15
G26
Compliance with ESG · W:10
G34
Sustainable Finance & · W:10
G44.5
Board Diversity & · W:10
S14
Community Investment & · W:9
S35.5
Diversity, Inclusion & · W:9
E11
Carbon Emissions Reduction · W:8
E24.5
Energy Efficiency & · W:6
S25
Workplace Well-being & · W:6
G55.5
Ethics & Anti-Corruption · W:5
E33
Climate Change Adaptation · W:4
S44.5
Education & Sustainability · W:3
S55.3
Sustainable Supply Chain · W:3
E44.5
Water & Waste · W:2
Pillar Details
2.80
out of 10
Achievement28%
Contribution5.6 / 20
Weight20%
Subcategories4
E1
Carbon Emissions Reduction
1
▲+1.0 vs 2024
/10
Weight: 8
10% achievement
E2
Energy Efficiency & Renewable Energy
4.5
▲+4.5 vs 2024
/10
Weight: 6
45% achievement
E3
Climate Change Adaptation
3
▲+3.0 vs 2024
/10
Weight: 4
30% achievement
E4
Water & Waste Management
4.5
▲+4.5 vs 2024
/10
Weight: 2
45% achievement
Score Calculation
1
Pillar Scores
E: 2.80
S: 4.83
G: 5.40
Weighted averages (0\u201310)
2
Apply Weights
47.09
(2.80×2)+(4.83×3)+(5.40×5)
E:20% S:30% G:50%
3
R&C Deduction
0.00
No controversies
4
Final Score
47.09
Range: 40–49.99
Rating
B
Mnakh Index Rating
ESG Activities
Activity Summary
1 activities in 2026
Environmental
0
Social
1
Governance
0

Recent Activities

View all →
SS3S411 Jun 2026

NIG Hosts Forum for Newly Hired Kuwaiti Employees

National Industries Group (NIG) organized an internal forum ('Multaqa Al-Sinaat') on 11 June 2026 at The Regency Hotel Kuwait, bringing together newly hired Kuwaiti employees with senior management. The event focused on developing national talent (Kuwaitization), open dialogue with young staff, and knowledge exchange. No beneficiary counts or measurable outcomes were disclosed.

Methodology: MSM v2.1 · 154 CriteriaAssessment: 2025Weights: E:20% · S:30% · G:50%