We have chosen to base our approach to responsibility in business relationships on the
UNGPs/OECD, because they provide an authoritative international reference point to responsible business conduct.
From our own experience, we find the implementation can improve performance and help in avoidance of risks.
By following the international minimum standard, we make sure that ICL’s approach to responsibility in business relationships adheres to the international development within responsible business conduct. The international minimum standard has achieved a historic consensus in all parts of the world and in all business areas.
Furthermore, the utilization of the UNGPs/OECD as a risk management tool helps identify and address reputational risks, thereby mitigating potential financial risks. The standard forms the basis for setting legal requirements on responsible business conduct by governments, both directly and in areas such as public procurement, business financing, and corporate reporting. Consequently, we ensure that ICL's business relationships effectively address social, environmental, and economic sustainability concerns.
Considering the international development and the international and authoritative character of the UNGPs/OECD, it would undermine such authority, if ICL were to manage our responsibility in business relationships through any other means than the UNGPs/OECD.
We have chosen to base our approach to responsibility in business relationships on the
UNGPs/OECD, because they provide an authoritative international reference point to responsible business conduct.
From our own experience, we find the implementation can improve performance and help in avoidance of risks.
By following the international minimum standard, we make sure that ICL’s approach to responsibility in business relationships adheres to the international development within responsible business conduct. The international minimum standard has achieved a historic consensus in all parts of the world and in all business areas.
Furthermore, the utilization of the UNGPs/OECD as a risk management tool helps identify and address reputational risks, thereby mitigating potential financial risks. The standard forms the basis for setting legal requirements on responsible business conduct by governments, both directly and in areas such as public procurement, business financing, and corporate reporting. Consequently, we ensure that ICL's business relationships effectively address social, environmental, and economic sustainability concerns.
Considering the international development and the international and authoritative character of the UNGPs/OECD, it would undermine such authority, if ICL were to manage our responsibility in business relationships through any other means than the UNGPs/OECD.