Energean rated at “Gold” level under Israel’s Maala Index 2020

Energean has been rated at “Gold” level under the Maala Index and will be included in Maala’s Index on the Tel Aviv Stock Exchange. 


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Τhe ratings were presented at the Tel Aviv Stock Exchange Hall during a Bell Ceremony that took place on Tuesday morning, with the companies’ representatives being present through the Zoom platform due to COVID-19 restrictions. Energean was represented by Ilia Rigas, Head of CSR for Energean Group, and Shaul Zemach, Energean’s Country manager for Israel. 

 

Maala is a non-profit corporate organization promoting Corporate Social Responsibility (CSR) in Israel. It is considered to be the CSR standards-setting organization in Israel with most of largest companies operating in the country as members.

 

The Maala Index is an assessment tool benchmarking companies that operate in Israel on their Corporate Social Responsibility performance.This specific Index is an ESG rating system that annually rates around 25% of the largest companies operating in Israel. 

The rating serves as a management system to implement and measure Environmental, Social and Governance standards (ESG). An Index was listed on Tel Aviv Stock Exchange in 2005 as TA-Maala Index, and has so far outperformed the traditional market indices. 

Ilia Rigas, Head of CSR for Energean Group, stated: “We are proud of being rated at “Gold” level under the Maala Index for 2020, as this represents a recognition of our efforts and initiatives undertaken to achieve a more sustainable future for all communities Energean operates in. Energean strives to meet the United Nations' 17 Sustainable Development Goals (SDGs) through its day-to-day operations and a wide range of CSR initiatives. We were the first E&P company in the world to commit to becoming a net zero emitter by 2050. We are fully committed to Environmental, Social and Governance Standards, as well as to working closely with all our stakeholders in all countries of operations. It's our world and it's our responsibility to deliver it to our children in better condition than we found it". 

It should be noted that Energean has been rated at “A” by Morgan Stanley Capital International ESG Research.