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Boursa Kuwait ESG Reporting Guide 2026: 2026 Edition: What Listed Companies Must Know
Issued under CMA Circular No. 04 of 2025, the 2026 ESG Reporting Guide marks a decisive regulatory shift: ESG disclosure is no longer a best-practice aspiration; it is now a regulatory requirement for Premier Market companies. Sustainability reports covering FY 2025 must be published before the end of Q2 2026. Main Market companies are advised to treat this as proactive early-adoption guidance.
Five Headline Changes in the 2026 Guide
The 2026 Guide extends beyond updating a set of metrics. It introduces mandatory reporting obligations, strengthened framework requirements and elevated expectations around climate disclosure and board-level governance.
Each change requires assessment, planning and action, and is addressed within RSM in Kuwait's structured ESG readiness programme.
ESG Disclosure Is Now Mandatory for Premier Market Companies
Under CMA Circular No. 04 of 2025, sustainability reports are required for Premier Market listed companies covering FY 2025. Reports must be published on Boursa Kuwait's website before the end of Q2 2026, and companies are required to notify the CMA. Main Market companies are encouraged but not yet mandated.
Expanded Framework Alignment: ISSB Now Included
Recognised frameworks now include GRI (2021), ISSB (IFRS S1 & S2), SASB, TCFD, CDP and the UN SDGs, a significant expansion from the previous edition. Companies with institutional investors are encouraged to align with ISSB for investor-grade financial-materiality disclosure.
Formal Double-Materiality Assessment Now Expected
The materiality approach has moved from a general discussion to a formal double-materiality assessment. Companies must consider both financial materiality (topics affecting enterprise value) and impact materiality (topics affecting society or the environment). Results must be board- or management-approved and disclosed in the report.
Climate Disclosure Requirements Strengthened
Scope 1 and Scope 2 GHG emissions are now required disclosures; Scope 3 is encouraged where material. The Guide also introduces expectations around climate scenario analysis and a climate transition plan aligned with Kuwait's 2060 carbon-neutrality commitment.
Board-Level ESG Governance Now Expected
Governance of ESG has moved from "encouraged" to "board-level oversight expected to be disclosed." The Climate Governance & Risk Mitigation metric has been reframed to require explicit disclosure of board-level climate oversight.
ESG & SUSTAINABILITY CONSULTING
Download the Full Fact Sheet
The complete fact sheet covers the full 26-metric framework, framework alignment table, metric-level changes and FAQs, designed for CFOs, sustainability managers and boards.
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RECOMMENDED ACTIONS
Where to Start: A Prioritised Action Plan
The 2026 Guide requires immediate action from Premier Market companies and sets the direction for all listed entities. The actions below are drawn directly from the Guide's recommendations.
Immediate: Premier Market
- Assign board-level accountability for ESG oversight.
- Conduct a formal double-materiality assessment.
- Begin collecting FY 2025 data: Scope 1 & 2 GHG emissions, energy, water and core workforce metrics.
- Select a reporting framework (GRI, ISSB, or both) and document the choice.
- Publish the sustainability report on Boursa Kuwait's website before end of Q2 2026 and notify the CMA.
Medium-Term: All Listed Companies
- Develop a climate transition plan aligned with Kuwait's 2060 carbon-neutrality target.
- Introduce climate scenario analysis in line with TCFD / IFRS S2.
- Extend ESG boundary to Scope 3 and Supplier Code of Conduct.
- Evaluate external assurance for GHG emissions and high-estimation metrics.
- Monitor ISSB (IFRS S1 & S2) developments, as early alignment future-proofs disclosures.
Meet Our Expert: Whom You Can Trust
Our ESG practice is supported by professionals with experience across sustainability reporting, regulatory compliance and ESG strategy for listed companies in Kuwait.
Kareem Abu Eid
Kareem is the region's ESG & Sustainability Consulting services leader with an MBA in Renewables and Sustainability and various professional certifications. With 25 years of experience across multiple sectors, including 16 years in ESG and Sustainability consulting, he leads advisory projects for businesses in diverse industries. Kareem excels in driving ESG strategies and fulfilling client ambitions in both private and public sectors.
RSM in Kuwait · ESG & Sustainability Consulting
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