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The Tel Aviv Stock Exchange (TASE) Publishes Its First ESG Report

The Tel Aviv Stock Exchange (TASE) Publishes Its First ESG Report

TASE will Present in its Website a Dedicated page with the Listed Companies that Publish an ESG Report

Ittai Ben Zeev, CEO of TASE, said today: “We are proud to publish today TASE’s first ESG report and share with the public our social and environmental vision and actions. The important values fulfilled by the advancement of ESG are also accompanied by significant economic value and a real contribution to the ability of each and every one of us to ensure sustainable growth, protect the environment and create a more equal and fair society. The importance of ESG is also growing among investors, institutional and retail, especially the foreign investors, who are showing a growing interest in the Israeli stock market. Regrettably, Israel is still behind compared to the world and we hope to see a growing number of companies adopt high ESG standards. TASE, on its part, will continue to develop this field, create related products and improve the accessibility of information for the benefit of all public companies and the investors.”

The Tel-Aviv Stock Exchange Ltd. published its first Environmental, Social and Governance (ESG) report.

TASE views the report as a significant milestone in the advancement of ESG, which has taken center stage in Israel and globally in recent years, both among the TASE-listed companies and as a public company itself.

In the report, which summarizes TASE’s ESG activity in 2021, TASE specifies its goals and commitment to various economic, corporate governance, social and environmental aspects and maps the 13 most material topics within and outside the organization as a strategic foundation for the Company’s ESG activity. In addition, TASE defines in the report the U.N.’s Sustainable Development Goals (SDGs) that are most relevant to its activity: gender equality, fair employment and economic growth, industry, innovation and infrastructure, reduction of inequality, and responsible consumption and production.

Among the data published today by TASE:

Principal data for 2021 that have financial impact on the economy

Public companies comprise 645 share and bond companies, of which close to 100 are new companies that joined TASE in 2021. TASE calculates and edits 66 different indices.

The market cap of the TASE-listed companies exceeds NIS 1 trillion, representing close to 72.3% of the State of Israel’s GDP and reflecting the extensive social-economic impact on the local economy.

See related article: Boston Trust Walden Publishes 2021 ESG Impact Report

Advancement of ESG

TASE works on multiple levels to develop and strengthen ESG in Israel, among others, by launching new products, courses and training. According to TASE data, the total market cap of TASE-traded ETFs and tracking funds on local and international ESG indices is NIS 1.5 billion. TASE has launched 3 ESG indices in recent years: TA-125 Fossil Free, Cleantech, and the veteran Maala Index. 12 tracking products were launched on these indices. In addition, 29 ETFs and tracking funds on global ESG indices are traded on TASE.

TASE participates in the U.N.’s Sustainable Stock Exchange (SSE) Initiative, which encourages exchanges to adopt and advance ESG standards. In 2021, TASE held its first ESG conference and is currently planning to open a new course that, for the first time, offers practical training for the use of ESG strategy in the management of investor relations. The course will be presented in cooperation with the Israeli Investor Relations Forum of the Israeli Association of Publicly Traded Companies and the Israeli Forum for Impact Economy.

TASE notes that today, only quarter of the 125 companies included in TASE’s TA-125 flagship index issue ESG reports, compared to 90% of the companies in the S&P-500 index. To improve transparency and allow exposure to the companies that publish an ESG report, TASE aired today on the TASE website a dedicated page containing a list of 40 TASE-listed companies that published an ESG report, including a link to the relevant page on the company’s website.

Women represent more than half of the employees, investment in human capital and diversity of the workforce

TASE publishes today that more than half of its employees (52% of 258 employees) are women. Women hold 42% of executive positions. TASE operates two programs for the integration of diverse populations: a project that integrates employees with autism and a project that integrates youths that dropped out of the school system. The purpose of the projects is to provide the participants with tools and skills that will help them gain employment.

In addition, TASE has invested in close to 1,700 training hours for employees in 2021, including professional seminars, educational seminars, executive training and more.

Source: Tel Aviv Stock Exchange


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