Partnership for the Goals As consumer preference for socially driven brands has grown in recent years, businesses are increasingly expected to positively impact the world
Partnership for the Goals
Maala - Paving the Way for CSR
“Tikkun Olam” or “Repairing the World” isn’t just a catch phrase for many Israeli businesses, it’s THE way to do business. But most businesses just call it CSR (corporate social responsibility).
Spearheading Israeli CSR is Maala, a non-for-profit organization (CEO Momo Mahadav) founded in 1998 that sets standards for corporate social responsibility. Maala publishes the Maala ESG indexes annually on the Tel Aviv Stock Exchange. Maala boasts 120-member companies, including local and global industry leaders such as P&G, Intel, Unilever, SAP, Bank Hapoalim, Bank Leumi, Teva Pharmaceuticals, Strauss Group, SodaStream, Osem-Nestle Israel, Adama, Shikun & Binui. These companies together comprise some 310,000 employees, with annual sales of 410 billion shekels (c. US$118 billion), representing approximately one-third of Israel’s GDP.
In late November, Maala hosted its third international conference in cooperation with the Responsible Business Conduct Unit at the Foreign Trade Administration in the Ministry of Economy and Industry.
The theme of the conference, Innovation for Good Life, was the pretext for showcasing new and innovative products. However, leaders from HR, marketing, finance, procurement, environment and R&D also explored ideas of sustainability in industry, as well as workplace inclusion and impact investing. Topics such as future labor market, older workers and working past retirement age, and strengthening social resilience were discussed as well.
More than 800 participants from around the world blew into Tel-Aviv to participate in the conference. Prominently noted were companies representing one-third of Israel’s GDP, with combined annual sales of $94 billion. Speakers from these companies and others representing a variety of key roles within key industries including tech, finance, food & beverage shared the spotlight at the conference.