Israel (like other countries) provides support to NGOs in the form of tax benefits granted subject to the fulfillment of defined criteria and conditions. The purpose of these benefits is to support the social and public...more
The Israeli Supreme Court handed down a precedent-setting ruling recently in the Evangelical Episcopal Church case. According to the ruling, Israeli NPOs may receive an exemption from paying real estate betterment levies to...more
A material adverse change (MAC) is a common term in merger and acquisition agreements. The term describes a change or event that, if realized, could have a material negative impact on the parties to the transaction (mainly on...more
The Tel Aviv District Court recently allowed a motion to certify a class action against the Volkswagen Group and its importer in Israel, Champion Motors Ltd. The class action focuses on the Dieselgate scandal, after an...more
11/10/2022
/ Air Pollution ,
Automotive Industry ,
Carbon Emissions ,
Class Action ,
Class Certification ,
Clean Air Act ,
Environmental Crimes ,
Environmental Violations ,
Imports ,
Israel ,
National Emissions Standards ,
Natural Resources ,
Public Health ,
Standing ,
Volkswagen
The ESG Index (ESGI) represents the three key spheres that encompass responsible investments (or “green investments”)—Environmental, Social, and Governance. The responsible investments market has been rapidly gaining momentum...more
7/7/2022
/ Capital Markets ,
Companies Law ,
Corporate Governance ,
Corporate Officers ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
EU ,
Fiduciary Duty ,
Greenwashing ,
Israel ,
Securities and Exchange Commission (SEC) ,
Sustainability ,
Sustainable Business Practices
The Israeli website “GuideStar,” which provides information about Amutot (One of the common types of non-profit organizations in Israel) and PBCs, launched a new and important interface that enables these organizations to...more
The deadline for implementing the provisions of the new amendment to the Male and Female Workers (Equal Pay) Law is June 1, 2022. The purpose of the amendment is to increase organizations’ transparency about gender pay gaps....more
The Tel Aviv Magistrates’ Court has set a fine totaling ILS 340,000 on Kishle House (which operates the Setai Hotel in Jaffa) and on two company officers after the Israeli Ministry of Environmental Protection filed an...more
The Knesset Finance Committee, headed by MK Alex Kushnir (Yisrael Beitenu), recently approved a mechanism for compensation for the rehabilitation of industrial waste damages caused by Rotem Amfert (of the ICL Group). The...more
The Israeli Ministry of Environmental Protection announced this week its imposition of a pecuniary sanction totaling about ILS 3 million on the leading supermarket chain Shufersal for violations of the Clean Air Law. (In...more
About seven years ago, one of the worst ecological disasters in Israel’s history occurred. During work to divert an oil pipeline, one of the old pipelines belonging to the government company Eilat Ashkelon Pipeline Co. Ltd....more
11/23/2021
/ Corporate Officers ,
Criminal Investigations ,
Criminal Prosecution ,
Environmental Liability ,
Environmental Violations ,
Indictments ,
Negligence ,
Oil Spills ,
Pipelines ,
Popular ,
Responsible Corporate Officer Doctrine
Up until today, pursuant to an Israeli government resolution dating back to 2001, NPOs (such as Amutot and public-benefit companies) that did not possess a certificate of proper management could not engage with government...more
An assessment of environmental, social, and governance (ESG) factors has become an integral part of the due diligence review of companies. Such assessment may provide a potential acquirer with a detailed analysis of a...more
9/30/2021
/ Acquisitions ,
Anti-Bribery ,
Anti-Money Laundering ,
Child Labor ,
Conflict Mineral Rules ,
Corporate Governance ,
Diversity and Inclusion Standards (D&I) ,
Due Diligence ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Human Trafficking ,
Israel ,
Mergers ,
Modern Slavery Act ,
Reputation Management ,
Risk Assessment ,
Risk Management ,
Supply Chain
The Israeli High Court of Justice ruled recently that section 46 of the Income Tax Ordinance does not authorize the Knesset Finance Committee to exercise broad discretion in recognizing NPOs and in fact the Committee’s...more
The Ministry of Environmental Protection recently published the Memorandum for the Climate Law 2021. The memorandum’s main purpose is to create an organizational framework for Israel’s handling of the global climate crisis....more
In light of global capital market investors’ growing interest in the topic of responsible investments, the Israel Securities Authority recently published a proposed outline for corporate responsibility and ESG risk...more
In the last decade, impact investments have become an international trend to address global challenges in the areas of environment, welfare, health, employment, and education. In light of the development of the impact...more
The Ministry of Environmental Protection imposed a financial sanction of NIS 634,000 on Gadiv Petrochemical Industries of the Bazan Group, following the company’s violation of the terms of an emission permit....more
Last May, the Social Affairs Division in the Accountant General Department in the Ministry of Finance published a number of steps designed to assist third-sector organizations (’Amutot’ and public benefit companies), and...more
Following the guidelines that the Israeli Corporations Authority (ICA) has issued on March 2020, inter alia, regarding easements in the annual reporting dates applying on Amutot and PBCs, in light of the coronavirus outbreak...more
As part of its effort to deal with the coronavirus crisis, the Social Services Division of the Accountant General’s Department at the Israeli Ministry of Finance recently released an aid package for the benefit of...more
The Israeli Registrar of Amutot and Dedications has changed its policy on the granting of certificates of proper management to Amutot and public benefit companies (PBC). From now on, any Amutot and PBC that meets particular...more