Makhteshim Agan Ranks Fourth in the Corporate - Environmental Transparency Index
Transparency has Increased by Tens of Percentage Points Compared With 2010
TEL AVIV, Israel, May 26, 2011 /PRNewswire-FirstCall/ -- Makhteshim Agan Group has entered the top ten, reaching 4th place, in the annual corporate-environmental transparency index.
BeyondBusiness Co., which specializes in consulting and planning for corporate-environmental responsibility published the findings of its transparency index this week. According to the index, Makhteshim Agan operated with great transparency and showed significant improvement reaching a transparency score of 78.5% and ranking 4th compared to its 2010 ranking in 74th place.
The main reason for this significant rise in the index is the publication, at the beginning of 2011, of the Company's first corporate responsibility report. The report was written according to the international reporting principles of the GRI and details the Company's activities in the areas of corporate responsibility during 2009. The index awards high points for such reporting, which is considered a leading and advanced way to demonstrate transparency with regard to the business and environmental activities of an organization.
Makhteshim Agan's corporate responsibility report demonstrates how the Company provides effective solutions for farmers that enable them to cope with diseases, pests, fungi and weeds thereby improving their yields.
The report highlights successes but also describes where improvement is needed, reflects the Company's efforts in important areas of corporate responsibility, and illustrates the organization's commitment to transparency and sustainability. A commitment that is reflected, for example, in strict compliance with international environmental standards and the use of advanced technologies for the development of a range of methods for waste water treatment and air emissions.
Michal Arlosoroff, VP and Legal Counsel in charge of CSR at Makhteshim Agan, said today: "We welcome the significant improvement in rating in the transparency index, which is another layer in our commitment to transparency and sustainability. The picture that emerges from our first corporate responsibility report is that of a company that has come a long way but recognizes the need for further real improvement. We believe that the strength of the viewpoint of corporate responsibility lies in bringing about positive change in the scope of our activities as part of our being a leading global industrial company."
About Makhteshim Agan
Makhteshim Agan Industries Ltd. is a leading manufacturer and global distributor of crop protection products and the world's largest generic company in its field. The company provides effective solutions for farmers, enabling them to cope with diseases, pests, fungi and weeds that damage their crops, and to improve the yield of agricultural areas. In 2010, company sales reached USD 2.37 billion and it was ranked seventh in the global agrochemical industry. Further information can be found on our website at http://www.ma-industries.com.
About the transparency index
Every year, BeyondBusiness Co. publishes the "transparency index" which looks at performance in the Israeli economy in the area of corporate responsibility.
The Transparency Index for 2011 rates the level of corporate-environmental transparency of the 100 largest and most influential companies in Israel that are traded on the Tel Aviv stock exchange (TA100). From the data collated, about 10% of the TA100 companies receive a "pass" grade and demonstrate a level of transparency higher than 50%. Among the other companies that entered the top ten are Teva (8th), Israel Chemicals (9th), and Gazit Globe (10th), which published corporate responsibility reports and therefore improved their ranking.
Contact:
Rony Patishi-Chillim
Head of Global Corporate Communications
Email: [email protected]
Phone: +972-7-32321119
SOURCE Makhteshim Agan Industries Ltd
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