Companies were ranked according to their performance over the previous year in the following areas:
Business Ethics: code of ethics, internal system for implementing code
Workplace and Human Rights: policies and performance
Community Investment: financial contributions, donation of services and products, investment policy, employee volunteering
Environment: policies, management and implementation, performance, reporting
Key findings this year included:
- A significant increase in the overall performance of participating companies: the average score rose 17% as compared to 2006.
- 81% of companies that participated have a code of ethics (compared to 69% in 2006).
- 58% have a written environmental policy, a 40% rise compared to 2006.
- The average annual donation rose by NIS 2 million (while donations as a percentage of profits actually fell 0.3%).
According to Talia Aharoni, Managing Director of Maala, "The Maala Index is an expression of enormous progress in the area of corporate social responsibility in Israel. Corporate Social Responsibility is a long term investment and process. Companies and investors realize today that CSR measurements are crucial in risk management.
The Maala Index enables investors to invest in a group of leading companies selected not only due to their excellent financial performance but also according to their management and performance of their impact on the environment, their employees, the community and their ethical performance. It gives crucial information to investors, consumers, employees, suppliers etc.
The Index also enables those companies that participate and others to review their performance as compared to their sector colleagues, and gives them the opportunity to introduce management tools and processes that will enable them perform better in the future."
Click here to see the full results.
To read about the 2007 criteria, click here.