TEL AVIV, Israel – (BUSINESS WIRING) –ICL (NYSE: ICL) (TASE: ICL), the world’s leading mining company, today announced a new Sustainable Development Loan (SLL) in the amount of 250 million euros, for five years until 2026 and a fixed annual interest rate of 0.8%. This loan is an innovative step forward in the company’s ongoing sustainability efforts and includes three sustainability targets. These targets have been designed to align with ICL’s sustainability strategy and goals, and each will be assessed at specific times during the loan term by third-party certification.
As part of this effort, ICL is aiming for 4–5% annual reductions in Category 1 and 2 direct and indirect CO₂e emissions from ICL’s global operations. Third-party monitoring will begin in fiscal 2021 in accordance with the accounting and reporting standards published by the GHG Protocol.
The company also plans to expand its engagement in Together for Sustainable Development (Tfs), a global initiative to develop and implement a global supplier relations program that evaluates and improves sustainable supplier sourcing practices. By 2025, the company intends to add a significant number of qualified Tfs suppliers every year who meet criteria in governance, environment, health and safety, labor and human rights, ethics and corporate governance.
In addition, ICL will continue to focus on the inclusion, equality and increased representation of women among its senior leaders, leaders and board members. ICL is working to increase the number of women in senior management, and this segment has already grown from 9% in 2018 to 19% in 2021. As part of SLL, the company has set a goal for women to hold at least 25%. senior management positions by the end of 2024.
“ICL prides itself on being a leader in sustainability practice, including becoming the first company in Israel and among its competitors to issue a sustainable development loan – the logical next step in our mission to transform from a mining company to a company that uses its resources. mineral resources to create sustainable solutions for humanity, ”said Raviv Zoller, President and CEO of ICL. “Our continued focus on ESG practices, as well as our increased transparency on all sustainability issues, prompted us to incorporate these efforts into our debt structure and accept TCFD reporting starting in fiscal 2021. ”
More information on ICL’s sustainability efforts and progress can be found at Corporate Responsibility Report 2020which was recently published and details the joint commitment of management and the Board of Directors to sustainable development.
The loan was concluded with a syndicate of five leading global lenders. The loan was arranged by BNP Paribas and MUFG as joint bookrunners, authorized lead organizers and ESG coordinators. Bank of America Europe DAC, Rabobank and SMBC Group acted as designated lead arrangers.
The ICL Group is a leading global mining company that also benefits from rising commodity prices. The company creates effective solutions to the problems of sustainable development of mankind in the world markets for food, agriculture and industry. ICL leverages its unique bromine, potassium and phosphate resources, its passionate team of talented employees, and places great emphasis on R&D and technological innovation to drive growth in its end markets. ICL is listed on the New York Stock Exchange and Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide and generated approximately $ 5.0 billion in revenue in 2020.
For more information visit the ICL website at www.icl-group.com…
To access the online ICL Corporate Responsibility Report, click here…
This announcement contains statements that are forward-looking statements, many of which can be identified using forward-looking words such as expect, believe, could, expect, should, plan, intend, evaluate, strive, predict, set purpose and potential, among other things. Forward-looking statements are based on the beliefs and assumptions of our management and information currently available to our management. Such statements are subject to risks and uncertainties, and actual results could differ materially from those expressed or implied in forward-looking statements due to various factors, including other risk factors discussed in paragraph 3 – Basic Information – D. Risk Factors in the Company. 20-F Annual Report for the year ended December 31, 2020, filed with the US Securities and Exchange Commission (SEC) on March 2, 2021 (Annual Report).