Mnakh ESG Index

MSM v2.1 Methodology

Transparent, Rigorous, Evidence-Based

How we rate companies using 154 criteria across 14 subcategories with sector-specific weightings

Overview

MSM v2.1 is an AI-powered evaluation system aligned with globally recognized ESG standards. It provides consistent, sector-specific assessments reflecting both local relevance to Kuwait and international best practices. Each company is assessed across 154 criteria in 14 subcategories under 3 pillars.

Scoring follows a cumulative approach companies must demonstrate evidence at lower levels before reaching higher scores. Scores of 8+ require third-party verification, while 910 represent demonstrated industry leadership.

GRIGlobal Reporting Initiative
SASBSustainability Accounting Standards Board
TCFDTask Force on Climate-related Disclosures
MSCIMorgan Stanley Capital International
CDPCarbon Disclosure Project
UN SDGsUN Sustainable Development Goals

Scoring Structure

3 Pillars · 14 Subcategories · 154 Criteria · Each subcategory scored 010

E

Environmental

Impact on the natural environment and efforts to reduce ecological footprint.

E1Carbon Emissions Reduction

Scope 1/2/3 tracking, targets, SBTi alignment.

E2Energy & Renewables

Energy data, renewable adoption, ISO 50001.

E3Climate Adaptation

TCFD alignment, scenario analysis, Paris alignment.

E4Water & Waste

Water/waste tracking, diversion, zero-waste targets.

S

Social

How a company manages relationships with workforce, communities, and supply chain.

S1Community Impact

CSR investment, SDG alignment, impact measurement.

S2Workplace Safety

OHS metrics, ISO 45001, zero-harm targets.

S3Diversity & Inclusion

Gender data, D&I policies, pay equity analysis.

S4Education

Training hours, ESG training, accreditation.

S5Supply Chain

Local procurement, ESG clauses, supplier audits.

G

Governance

Corporate governance quality, transparency, ethics, and sustainability alignment.

G1ESG Reporting

GRI, SASB, TCFD frameworks, integrated reporting.

G2Compliance

Regulatory compliance, Boursa guidelines, audits.

G3Sustainable Finance

ESG products, ICMA frameworks, net-zero commitments.

G4Board Diversity

Independence ratios, female representation, evaluations.

G5Ethics

Code of conduct, whistleblowing, ISO 37001.

Score Bands

0–3No meaningful disclosure
4–5Basic, minimum effort
6Moderate, multi-year data
7Good, formal targets
8Strong, third-party verified
9Excellent, industry leader
10Best-in-class, global

Rating Scale

MSCI-aligned rating scale based on weighted final score (0100)

Sector Weights

Each sector has unique E/S/G pillar weighting reflecting its material ESG impacts

SectorE %S %G %

Sector-specific weights ensure that the most material ESG factors for each industry receive appropriate emphasis. For example, Financial Services companies are weighted 50% on Governance due to regulatory and fiduciary responsibilities, while Logistics companies are weighted 50% on Environmental due to their carbon-intensive operations.

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MSM v2.0 Methodology — Mnakh Dashboard