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Select SDGs to find out how we are taking action in support of the UN Substinable Development Goals
Part of practicing good corporate governance in ICL includes close oversight of its business strategy and fiscal accountability, ethical corporate behavior and fairness to its shareholders and stakeholders. Accordingly, the Company abides by advanced principles of corporate governance that define the relationships between the Company’s management, Board of Directors, shareholders and other stakeholders.
ICL is incorporated in Israel and therefore complies with various corporate governance requirements under the Israeli Companies Law, 1999. These are in addition to requirements which apply to ICL as a publicly traded company on the New York Stock Exchange and the Tel- Aviv Stock Exchange.
Furthermore, the Company has adopted, and will continue to adopt as necessary, voluntary practices to ensure maximum transparency towards all its stakeholders, as well as an enforcement plan that ensures its strict compliance with both the law and internal regulations.
Read more regarding specific Corporate Governance Practices in the Company’s 2020 Annual Report Item 16G.
ICL requested an external company to conduct a customer survey.
The purpose of the survey is to meet the level of service provided by the company to its customers with the intention of improving the service. Another survey in the same format will be conducted on an annual basis, and will evaluate the improvement. The survey included about 800 customers of the company from all over the world.
The results of the survey showed that already today the customers satisfaction with ICL's service is quite high, and the Company strives to improve it even further.
ICL places strong emphasis on its corporate responsibilities. This has led ICL to substantially increase its environmental, safety, employment and community activities, and, most importantly, to internalize a commitment towards responsible business practices that guide it on a daily basis in all its operations. ICL’s efforts are focused on providing sustainable solutions for its clients, while responding to global challenges. ICL’s R&D and Innovation is researching new products and solutions, as well as improving ICLs’ operations.
ICL has implemented personalized performance management processes based on individual KPIs. These include goals and performance evaluation for senior management, as well as the overall workforce. Annual monetary rewards (bonuses) are dependent on these performance evaluation processes. Some of the senior management KPIs are directly related to ESG performance. ESG related issues include performance in: Energy savings; Safety performance; GHG emissions reduction; Internal and External audits completed; Training programs implemented; Employee engagement and enablement levels reflected in surveys; and more.
A new forum has been initiated in ICL. The purpose of the new forum is to create opportunities to share and reveal potential problems and risks, to increase monitoring and to enable an organized process for reporting relevant risks for ICL sites.
ICL is taking actions to prevent the spread of COVID-19 (“Coronavirus”) in ICL operations, plants and other sites worldwide. As the world is facing a global pandemic (COVID-19), ICL is committed to protect the health of its employees, customers, suppliers and other partners. ICL’s efforts are focused on keeping its employees safe and healthy, as well as helping the communities where its sites are located.
ICL follows and adheres to orders, guidelines and procedures issued and published by the relevant regulatory authorities, as well as adopts appropriate steps and measures within its facilities, in order to minimize the effects of the Coronavirus. The Company established a special task force in order to monitor its operations and determine the correct and appropriate measures, needed to be taken, on a global basis.
ICL’s products are necessary for food production and food security. An extra effort was made by ICL and its committed employees to continue to produce and distribute fertilizers to farmers, so that they can keep growing the agricultural products we all need.
Read more on ICL’s global response regarding COVID-19 and ICL’s action in Israeli communities.
