Environmental, Social and Governance (ESG)
ESG Policy Framework
The Policy Framework presents BSF's position on Environment, Social and Governance (“ESG”) matters and key issues relevant to the Bank’s business and its stakeholders. It supports BSF’s commitment to act in a manner that supports ESG goals and adapt to changes, developments and challenges faced by the business placing ESG practices at the core of BSF development ambitions and responsibilities, in alignment with supporting the advancement of a sustainable financial sector in the Kingdom of Saudi Arabia.BSF’s ESG Pillars
- Emplifying the Highest Ethical and Governance Standards.
- Accelerating Sustainable Economic Growth
- Serving our Clients.
- Creating a Thriving Workplace.
- Protecting our communities.
ESG Governance
1-ESG Board Committee
This committee will support the Board of Directors in fulfilling its ESG-related commitments, including establishing ESG-related targets, promoting sustainable finance, fostering environmental stewardship, and maintaining effective corporate governance structures, all of which play an integral part in enhancing the Bank’s long-term stakeholder value.2-ESG Management Committee
This committee will assist the ESG Board Committee in fulfilling its ESG oversight responsibilities in line with best practices. Key responsibilities include developing, reviewing, recommending, and regularly monitoring BSF’s ESG goals; reviewing key ESG-related policies, including BSF’s ESG Policy; identifying, evaluating, and monitoring the status of ESG-related risks and opportunities; and overseeing the development of BSF’s ESG reports and related disclosures.3- ESG Division
Key responsibilities of the division include:- Coordinating and facilitating ESG Board and Management Committee meetings, respectively.
- Regularly monitoring and reporting on the Bank’s sustainability-related performance to the ESG Board and Management committees.
- Overseeing and monitoring the implementation of ESG-related strategies, policies, programs, and initiatives.
- Overseeing the development of the Bank’s annual ESG reports and related publications.
- ESG Champions Model across different groups within BSF.
