This morning’s Opening Bell Ceremony on TASE marked the reveal of the ESG rating by Maala Corporate Social Responsibility for 2024, in the presence of the Governor of the Bank of Israel, Prof. Amir Yaron.
In addition, the Diversity, Inclusion and Gender Equality ratings for 2024 were revealed, alongside social trends arising from this year’s ratings, on the backdrop of the war.
Among the outstanding figures revealed by the rating this year is the surge in the amount of donations in 2023: NIS 650 million, compared to NIS 450 million in 2022, a 15% increase in volunteering activity and a comprehensive support blanket created by the companies for their employees during this crisis.
The distinguished participants of the ceremony included Prof. Amir Yaron, Governor of the Bank of Israel; the Chair of Maala and Chair of Isracard, Tamar Yassur; the CEO of Maala, Momo Mahadav; Ittai Ben Zeev, CEO of TASE; and Hani Shitrit-Bach, EVP and Head of Listings at TASE, and many other market executives.
Tamar Yassur, Chair of Maala and Chair of Isracard: “We are concluding a complex year. This year, more than ever, demonstrated that even in times of uncertainty, the assimilation of ESG policies into the corporate DNA is the driving force and the unshakable foundation for recovery and sustainable continuity in Israeli society. This year, worplaces were a source of stability, an invaluable anchor and played a key role in our national resilience. Businesses across all sectors and of all sizes took on extraordinary endeavors this year.To weather this ongoing storm, we must acnowledge all stakeholders, create innovation, cooperation and growth, and bring real value to the society in which we live. I am hopeful that next year we will meet here again in better circumstances.”
Momo Mahadav, CEO of Maala: “The 2024 rating reflects the joining of hands, continuity and revival. The joining of hands is reflected in the surge in donations and contribution to the community and in the companies’ support of their employees. Despite all of the hardships that we have experienced this year, the 2024 rating, in line with its multiannual plan of constant improvement, has set more challenging criteria in certain areas, particularly as regarding diversity, the environment and climate, and ESG management in financial institutions.”
Hani Shitrit-Bach, EVP and Head of Listings at TASE: “Since October 7 we are witnessing the strength of Israeli society, public companies, private companies and many civilians, as they reach out to those evacuated from the South and the North, to farmers and to those serving in the IDF. The amount of aid extended by leading Israeli companies in October-December 2023 alone was close to NIS 250 million, with an additional NIS 300 million dedicated to future rebuilding and recovery. The companies were also very active in supporting the employees and their families, many of whom have been drafted for reserve duty. They also supported vendors and customers evacuated from their homes, with various volunteering initiatives. But, without a doubt, this year was about Social, as civil society shined. No ESG report can depict or put into words the depth of Israel’s civil society’s commitment and care, this year more than ever.”
