ICL has concluded a five-year €250 million ‘sustainability-linked loan’ from syndicate of five global lenders at 0.8%/year interest. It is the first company in Israel to do so. This is part of its sustainability efforts and includes three performance targets.
ICL will seek to achieve a 4-5% reduction in direct and indirect Scope 1 and Scope 2 CO2 emissions resulting from global operations. Third party monitoring will begin in the 2021 fiscal year, in accordance with the accounting and reporting standards published by the GHG Protocol.