Introduction

   Kuwait Resorts Company K.S.C.P. (hereinafter referred to as the “Company”) aims to add value to society through support and contribution to positively influence society. The Company is also committed to aligning its values and business strategy with social and economic needs, while incorporating responsible and ethical business practices into the implementation of every activity it undertakes company.

Purpose

The purpose of this Policy (hereinafter referred to as the “Policy”) is to guide the Company on managing its social responsibility, while providing the community with the necessary support to achieve long-term business and social benefits and to ensure the continuity of the Company's business in a way that minimizes adverse impacts on society.

Power Range

This policy applies to the company, the board of directors and the executive management. It is important for all members of the Board of Directors, managers and members of management to carefully understand the requirements of this policy and the instructions of the Capital Markets Authority and other applicable laws and regulatory requirements and to adhere to its contents.

About Social Responsibility

Social responsibility refers to the continuous commitment by the company to act ethically in accordance with what is required by laws and general norms and to contribute to achieving sustainable development for society in general and for the company's employees in particular, through the activities and responsibilities carried out by the company that may affect the community in which the company operates.

Social Responsibility Policy

• The Board of Directors sets a plan / policy to include sustainability factors in the company's overall strategy, main business plans, and the risk measurement and management process, if necessary. The Board of Directors also supervises social responsibility programs and ensures their implementation in all departments and divisions of the company.

• The Board of Directors must have the ability to understand and analyze the nature and size of the risks facing the company's activities, as well as the sustainability risks represented by environmental, social and governance issues, in order to reduce them as much as possible, in addition to determining the appropriate procedure to deal with them, and this includes identifying the internal or external factors that led or It leads to the occurrence of such risks and the development of methods to confront them, in light of the special strategies and policies developed in this regard, and in particular the company's risk appetite.

• The management must constantly strive to identify the most efficient and effective ways to improve and contribute positively towards the society in which the company operates, and this should be reflected through the social responsibility programs that the company adopts and works to implement.

• The company must implement various social responsibility programs that may include, but not be limited to, the following:

1) Care/support
2)Donations
3)Charity events
4)Educational programs.
5)Volunteer programs.
6)Programs and campaigns to educate employees and the community

• When choosing social responsibility programs, the company should avoid dealing with a special one-time pattern of charitable activities that do not participate in any way in setting social values, environmental protection or sustainable development.

• Priority should be given to activities related to:

1)Comprehensive growth of the community with special attention to the development of the most vulnerable sections of society and undeveloped areas in Kuwait.

2)Environmental development.

• The company should seek to develop indicators to link its performance to what it achieves in the field of social responsibility at the level of stakeholders and other groups of society, in addition to comparing its performance in terms of social responsibility with the performance of other companies with similar activity "if possible". The results of this comparison are used in Developing and promoting social responsibility programs and the work plan set by the company.

The company must - when allocating a percentage of the realized profits to direct them towards social services and projects - approve that percentage by the General Assembly. Provided that the size of the deductions allocated for social responsibility is commensurate with the nature and size of the company’s activity and the profits achieved.

Pillars of an effective framework for social responsibility

Responsibilities to society

The company is keen to contribute positively to the society in which it operates. Among the images of the contribution, for example, are not limited to:
• Assistance in providing new job opportunities to accommodate the national manpower in society, create appropriate conditions for them and enhance their capabilities.

• Supporting respect for different cultures and values and supporting a work environment within the company that is not based on discrimination.

• Contributing to community service in an ethical and legal manner, limiting the negative phenomena spread in society, undertaking voluntary charitable initiatives, and promoting positive ethical behaviors and respect for laws.

• Provide a work environment that complies with recognized occupational safety and health standards and promote positive ethical behaviors.

• Designing the company's activities in accordance with the economic situation and the cultural situation of the community.

• Not to engage in any form of corruption, including extortion and bribery.

Environmental Responsibilities

The company realizes that the environment is an essential element in terms of its obligations towards social responsibility. For example, it is possible to contribute to the environment through:

• Giving importance to protecting the environment from pollution and other environmental damages, by supporting modern technologies that can achieve environmental benefits in the long term, preserving the environment, and promoting and strengthening environmental awareness campaigns targeting employees and the public.

• Ensure that resources are not wasted, as well as that materials and goods are reused or recycled as far as practicable, with any remaining waste disposed of in a responsible manner.

Responsibilities towards different groups of society

The company shall contribute towards the different groups in society through:

• Respect the cultural and social differences of the different groups in society.

• Respect for people with different backgrounds, values, traditions and cultures. 

• Supporting small projects and opening new horizons that serve the segments of society.

• Work to improve the quality of living conditions of the workforce, their families, the local community and society as a whole.

Disclosure

The company continuously discloses to its employees the objectives of social responsibility and social responsibility action plans provided by the company according to periodic reports on the company's activities, which contributes to improving the company's performance.

Sustainability Reports

In the event that the company wishes to prepare a sustainability report, the information contained in the sustainability report must be clear and accurate, and the report must be comprehensive of the most important issues of environmental, social and economic impact in a way that enables stakeholders to assess the level of sustainability of the company during the reporting period, and that the points are taken into account the following when preparing the report:

• The report is prepared in accordance with one or more of the international standards for sustainability reporting.

• Describe the scope of the report and the basis for determining it.

• Determine the most important issues related to the company with environmental, social and economic impact, and involve stakeholders in the process of assessing the relative importance of these issues, with a description of the methodology used in the evaluation process.

• Describe the methodology and procedures used to deal with each of the sustainability issues that were identified in the materiality assessment process referred to in the previous item.