ICL Publishes Inaugural Task Force on Climate-related Financial Disclosures

Rhea-AI Summary

ICL has published its inaugural Task Force on Climate-related Financial Disclosures (TCFD) report, marking a significant commitment to transparency and sustainability. The report aligns with TCFD recommendations across governance, strategy, risk management, and metrics. CFO Aviram Lahav emphasized the company's proactive role in the global transition to a low-carbon economy and its determination to manage climate-related risks and opportunities. The company reported 2021 revenues of approximately $7 billion.

Positive

• Published inaugural TCFD report, enhancing transparency.
• Alignment with TCFD recommendations may attract environmentally-conscious investors.
• Commitment to sustainability can improve brand perception and customer loyalty.

Negative

• None.

Company expands on commitment to transparency and sustainability

TEL AVIV, Israel--(BUSINESS WIRE)-- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it has published its inaugural Task Force on Climate-related Financial Disclosures (TCFD), as part of its annual report on Form 20-F, and has aligned with TCFD recommendations structured around four thematic areas of governance, strategy, risk management, and metrics and targets.

“As part of the minerals and chemicals sector, ICL has an important role to play in the global transition to a low-carbon economy, through the development of innovative products and services, and we are committed to identifying, managing and harnessing the risks and opportunities climate change and the global transition to a low-carbon economy may bring,” said Aviram Lahav, CFO of ICL. “We recognize this is the beginning of a new level of disclosure for our company, and we look forward to enhancing our understanding and management of climate-related risks and opportunities and to delivering updates through TCFD reporting in the coming years.”

About ICL

ICL Group is a leading global specialty minerals company, which also benefits from commodity upside. The company creates impactful solutions for humanity's sustainability challenges in the global food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation, to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2021 revenues totaled approximately $7 billion.

For more information, visit ICL's website at www.icl-group.com.
To access ICL's interactive Corporate Social Responsibility report, please click here.
You can also learn more about ICL on Facebook, LinkedIn and Instagram.

Forward-Looking Statements

This announcement contains statements that constitute forward-looking statements, many of which can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.

Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s intent, belief or current expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, the potential for new COVID-19 variants, global conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.

Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220228006072/en/

Investor Relations Contacts

Peggy Reilly Tharp

VP, Global Investor Relations

+1-314-983-7665

Peggy.ReillyTharp@icl-group.com

Dudi Musler

Director, Investor Relations

+972-3-684-4448

Dudi.Musler@icl-group.com

Press Contact

Adi Bajayo

Scherf Communications

+972-52-4454789

Adi@scherfcom.com

Source: ICL Group LTD

FAQ

What is ICL's recent commitment to sustainability?

ICL has published its first TCFD report, focusing on transparency in climate-related risks and opportunities.

How much revenue did ICL report for 2021?

ICL reported approximately $7 billion in revenue for the year 2021.

What does TCFD stand for in relation to ICL?

TCFD stands for Task Force on Climate-related Financial Disclosures, which ICL has aligned with in its reporting.

What are the thematic areas covered in ICL's TCFD report?

ICL's TCFD report covers governance, strategy, risk management, and metrics and targets.