TEL AVIV, Israel, June 23, 2010 /PRNewswire-FirstCall/ -- ICL (TASE:ICL), a multinational fertilizer and specialty chemicals company, today announced that it has published its comprehensive "CR 2009" Corporate Responsibility report, a document that details its policies, programs, achievements and goals in the areas of environmental protection, sustainability and social responsibility. The report is available for download in both Hebrew and English from the Company's website at http://www.icl-group.com.
Part of its commitment to transparency and accountability, this report includes a comprehensive accounting of the environmental impact of ICL's Israeli operations, and a detailed description of projects underway to reduce the impact. The Company's investments in this area totaled $90 million in 2009 and are budgeted to reach $120 million in 2010. These investments were undertaken in line with policies set by ICL's parent company, Israel Corp., and its Chairman, Mr. Idan Ofer.
Commenting on the report, Mr. Akiva Mozes, President and CEO of ICL, said, "For several years, we have built ICL's strategies for growth within a clear commitment to corporate responsibility. This dictates that we deal fairly and transparently in all of our dealings with all of our stakeholders, beginning from our shareholders and employees and the communities in which we live and work, and stretching along the value chain to our customers and suppliers. We believe this commitment is a basic platform from which we work to earn the trust of a world that needs our progress, reaching for growth and progress in a sustainable and responsible way that benefits us all.
"In undertaking this report, we have demonstrated our desire to go beyond the letter of the law and to communicate openly with all interested parties. While we are proud of our accomplishments in the past, we pledge to achieve even more in the future, as demonstrated by increased budgets for our investment in all areas of corporate responsibility. Through transparent reporting, we hope to establish a basis for ongoing communication that will help us take our business to the next level."
ICL's CR reporting project was undertaken voluntarily in continuation of separate reporting projects carried out over the past two years by the Company's Israeli operating segments.
Highlights of the report include: - Environmental investments: in 2009, ICL invested approximately $90 million in projects associated with environmental protection and environmental quality. In 2010, the Company's budget for these areas is approximately $120 million. - Reduction of greenhouse gas emissions: Within the framework of ICL's emissions/greenhouse gas reduction programs, ICL has begun to calculate the carbon balance of its overall operations and the carbon footprint of its primary products.
Although this process is not yet complete, ICL has initiated activities designed to reduce its carbon footprint: 1) At the end of 2009, ICL's power plant in the Dead Sea region began a staged transition to the use of natural gas rather than fuel oil. This will result in a 25% reduction in its particle emissions and a 65%-75% reduction in its sulfuric oxide emissions, and reduce the power plant's fuel oil consumption from 250,000 tons to 80,000 tons per year. 2) In its production of fertilizers of other chemical products, ICL has carried out a project designed to achieve an 80% reduction of nitric oxide emissions. This project makes it possible for ICL to take advantage of the UN's Clean Development Mechanism (CDM) as stipulated by the Kyoto Protocol.
- Water and waste treatment: 1) Most of the water used by ICL companies in Israel is sourced from brackish water (including desalinated water), rather than water from Israel's national water grid. 2) In 2001, ICL's Rotem Amfert initiated a program which has reduced its waste from 1.85 million cubic meters in 2001 to approximately 255,000 cubic meters in 2009. - Corporate Responsibility: In 2009, ICL invested ISH 11.3 million in its activities related to Corporate Responsibility, and its budget for 2010 is ISH 16 million. These activities include extensive community health, education and welfare projects carried out in areas in which the majority of the Company's employees live, including in Negev development towns (primarily Dimona, Yerucham, Arad and Beer Sheba) and Bedouin towns. These activities have been undertaken in recognition of the Company's responsibility to help address the needs of the local community.
ICL is one of the world's leading fertilizer and specialty chemicals companies. For a world challenged by population growth and scarce resources, ICL makes products that increase global food and water supplies and improve industrial materials and processes.
ICL produces approximately a third of the world's bromine and is the 6th largest potash producer in the world. ICL is a leading supplier of fertilizers in Europe and a major player in specialty fertilizer market segments. One of the world's most integrated manufacturers and suppliers of phosphate products, ICL has become the world's leading provider of pure phosphoric acid and a major specialty phosphate player.
ICL is comprised of three core segments: ICL Fertilizers, ICL Industrial Products and ICL Performance Products. Its major production activities are located in Israel, Europe, the US, South America and China, and are supported by major global marketing and logistics networks. ICL benefits from exclusive concessions to extract minerals from Israel's Dead Sea, a vast source of high-quality and low-cost potash, bromine, magnesium chloride and sodium chloride. ICL also mines phosphate rock from Israel's Negev Desert and potash and salt from its mines in Spain and the UK.
ICL's shares are traded on the Tel Aviv Stock Exchange (TASE: ICL).
Forward Looking Statement
This press release contains forward-looking assessments and judgments regarding macro-economic conditions and the Group's markets, and there is no certainty as to whether, when and/or at what rate these projections will materialize. Management's projections are likely to change in light of market fluctuations, especially in ICL's manufacturing locations and target markets. In addition, ICL is likely to be affected by changes in the demand and price environment for its products as well as the cost of shipping and energy, whether caused by actions of governments, manufacturers or consumers. ICL can also be affected by changes in the capital markets, including fluctuations in currency exchange rates, credit availability, interest rates, etc.
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SOURCE ICL Ltd