Israel’s First GRI Compliant Social Responsibility Report

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Bank Leumi recently published the first ever GRI compliant social responsibility report by an Israeli company. It is significant that a Bank has adopted such a forward looking CSR policy since traditionally the banking sector has been slow to hop onto the CSR bandwagon. Bank Leumi’s report is actually the second CSR report  by an Israeli company and the second CSR Report by an Israeli bank. The first was published by Israel Discount Bank Ltd. last year albeit not GRI compliant.

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Why ESG Reporting Has Reached a Tipping Point

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The Social Investment Research Analysts Network (SIRAN) and KLD Research & Analytics, Inc. announced the findings of their annual report on environmental and social performance reporting of US companies at the Ceres Conference 2007 today in Boston.

The study shows that nearly half (49) of US companies in the Standard & Poors (S&P) 100 Index are now disclosing information about their environmental, social, and governance (ESG) performance. From an Israeli perspective the significance of this milestone demonstrates that it’s time for Israeli companies to start gearing up for a new wave of regulations and standards on the horizon.

Companies such as Bank Leumi and Israel Discount Bank Ltd. have taken the lead in reporting their ESG performance. This study confirms my conviction that Israel is amongst the leading countries in the Global CSR movement.

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