17 companies join Strategic Affairs Ministry's "Impact Nation" initiative

Ministry of Strategic Affairs launched a pilot program called "Impact Nation" with a budget of three million NIS to help companies promote sustainable business practices. The project started when MK

A general view of Tel Aviv's skyline is seen through a hotel window in Tel Aviv (photo credit: REUTERS)
A general view of Tel Aviv's skyline is seen through a hotel window in Tel Aviv
(photo credit: REUTERS)
The Strategic Affairs Ministry has launched a pilot program called "Impact Nation" with a budget of NIS three million to help companies promote sustainable business practices, the Ministry announced on Wednesday.
The project initially launched in October during MK Orit Farkash-Hacohen’s tenure as head of the Strategic Affairs Ministry and has continued the under the auspices of Michael Biton when he took up the post.
The project was developed to help companies finance an "environment, social and governance" (ESG) report. Some 17 publicly traded companies have already begun taking part in phase I of the pilot program. Some 25 companies showed a desire to take part of the program, yet only 17 were approved.
The focus of the program is intended to promote positive economic outreach from Israel. Israel is routinely denounced by the UN Human Rights Council, who compiled a blacklist of companies that do business with Israel.
From its creation in 2006 through 2016, the UN Human Rights Council over 10 years has adopted 135 resolutions criticizing different countries. Out of the 135 resolutions 68 have been against Israel.
"Dealing with the challenges of delegitimizing the State of Israel requires creative and groundbreaking thinking, The Impact Nation program led by my colleague, Minister Farkash-Hacohen, and is an excellent example of such,” MK Biton said.
Biton went on to add that "investments based on ethical and social considerations are a growing phenomenon which I believe should be instituted amongst Israeli companies as well".
The hope of the program is to show the added value of Israeli business have in the world.
Another aim of the project is to bolster the strength of the Israeli economy, and combat attempts working to stymie growth.