Risk Management & The Precautionary Principle
As part of ICL’s strategic planning to implement sustainable business activities, an organizational risk management structure has been established, including structured programs to promote the issue. Through a structured process which identifies risks and opportunities, ICL applies a precautionary principle to environmental and economic issues. \
Industrial production, in general, and the chemicals industry, in particular, require taking special precautionary measures to maintain a safe and healthy work environment. Some of our products, raw materials and production processes represent a high risk to anyone who deviates from required professional safety standards or from mandatory safety measures.
We have created an Enterprise Risk Management (ERM) system to identify existing and future risks which is managed internally. The ERM identifies, measures, manages and reduces risks, including integration of procedures required to implement policy. This system relates to strategic, operational, statutory and economic risks in all aspects of the organization’s operations, including its impact on the environment, the economy and society at large.
Regarding environmental issues, our commitment to the principles of the Responsible Care Global Charter serves to integrate the precautionary principles. Our product safety approach includes evaluating its products and managing the responsibility over their entire product life. We make an ongoing and consistent assessment of new chemical products prior to moving them into the commercial stage. In addition, existing products undergo an evaluation process at every stage in their production process and supply chain. ICL allocates resources to research and gathers information and data with respect to its products required to create a full characterization of their safety features with reference to human health hazards and environmental threats.
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