Israel Discount Bank (TASE: DSCT) CEO Uri Levin told the Globes ESG Conference today at the Herzog Conference Center in Tel Aviv that long-term business success must be built on human strength that combines values as well as business activities. "It's best to find the place where it fits in, to bring value to the shareholders as well as the environment and society." Levin also added that an organization that manages to be valuable and find this combination, is an organization whose employees are more satisfied and connected.
"In Israel there are always things more urgent than ESG," Levin said. "Despite the complexity, and perhaps because of the complexity, it is so important to address this issue. I think that when we talk about ESG, we talk about leadership with values."
According to Levin, leaders, and especially business leaders, have the power to influence the environment and therefore they also have a great responsibility. "It is not enough to be a leader or a manager who leads his company to significant business achievements. In recent months we have seen the power of business leadership, and with it also comes the responsibility to use it not only for the benefit of the business but in general for the benefit of society, the environment and the country."
"These issues are dramatic and require us to address them," added Levin. "They seem less urgent. The environment is a problem that is not addressed in Israel, compared with Europe, where the discourse is of a different intensity. Anyone who is exposed to the facts and the depth of the problem, understands that it is necessary to produce a dramatic and effective treatment of this issue, otherwise we will not be able to stop the deterioration."
Social challenges
In addition to environmental problems, Levin also referred to the social challenges in Israel. "We are all dealing with social problems, but less see our place to influence them. How can we influence the growing inequality and the lack of mobility? How can we influence the gaps that are increasingly widening between parts of the country? As part of this, the understanding that the one who should lead the care is governments, which requires dramatic actions. We cannot stand by and wait for it to be resolved by others."
Levin addressed the leaders of the business sector and the Globes audience, saying: "We have a significant responsibility, and we need to use it wisely. We are moving into a world where successful companies will not be successful if they do not behave in both a business and value-oriented way."
Levin stressed that the new generation of employees is looking for the connection to the organization's values, therefore an organization that knows how to produce this will bring more significant talents, thus bringing value to its customers as well.
To leave an impact
Levin spoke about the social work performed by the Discount Group and noted its achievements: "We chose to have an impact in places where we thought the bank integrated with the social and environmental factors. It is important for us to do real things and to continue this journey, to continue to create real partnerships and increase the power of non-profit organizations. How do we succeed? We not only donate to non-profits in the field of employment, but also show and be an example ourselves. We have created a complete program that helps to close the gaps in experience and culture, and we have succeeded in producing amazing programs in both Arab and Haredi society."
Levin added that after he steps down from his position, he believed that Discount will continue to operate in a way that will help the bank and the environment. "On a personal note, a CEO must see that he leaves behind an impact and that he leaves behind a tradition, if possible that is greater than him. This is how I have acted in all the years that I have been managing, and there are many things that I am proud of, but my greatest pride is precisely in this area."
Full disclosure: The Globes ESG Conference was held in cooperation with Israel Discount Bank
Published by Globes, Israel business news - en.globes.co.il - on July 5, 2023.
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