A market review by Zoooz, which manages a philanthropic database of Israel’s business sector, found that only 216 of the 540 companies listed on the Tel Aviv Stock Exchange donated to the community in 2024, with total giving by public companies estimated at NIS 780 million, the firm said.
Zoooz CEO Shlomi Turgeman attributed the relatively low participation rate to what he described as a lack of regulatory obligation for corporate philanthropy in Israel, the absence of an official CSR rating on the stock exchange, and no informal reputational penalties for companies that do not donate.
Giving by public companies accounted for about a tenth of national philanthropy
Zoooz estimated that total philanthropic donations in Israel reached roughly NIS 7.5 billion in 2024, meaning publicly traded companies accounted for around 10% of overall giving.
In a further review, Zoooz said that roughly 210 of 540 public companies donated in 2024, while only 90 published a corporate social responsibility report, pointing to limited transparency about how companies define, measure, and disclose social impact.
Zoooz also argued that many executives still follow a shareholder-first approach associated with economist Milton Friedman, viewing corporate philanthropy as a cost that should be left to shareholders to decide through dividends rather than undertaken by the company itself.
The review said total giving by public companies in 2024 declined by about 5% compared to the period prior to October 7, 2023, and suggested some companies are willing to donate but lack guidance on where to give and how to structure philanthropy in a way that supports brand values.
International models focus on mandates or disclosure
Zoooz pointed to a small number of countries where corporate giving is legally required, including India, Mauritius, and Indonesia in specified circumstances.
In most other markets, including Israel, the US, and the EU, Zoooz said the trend is shifting away from mandatory giving and toward mandatory transparency under ESG frameworks.
Zoooz found that financial institutions and banks led philanthropic activity among Israeli public companies, followed by high-tech and industrial firms.