NewMed Energy has announced the proposed combination with Capricorn Energy PLC. For more information, including access to the press release and presentation to analysts and investors, please click here:
We at NewMed Energy strive to conduct ourselves with integrity, reliability, mutual respect and responsibility, and to be a leader and a force for innovation and positive change in the areas of our operations. We believe that we can, through our operations, effect meaningful and material improvements in the environment, in air quality and climate, in the reliability and security of energy, and in linkages with stakeholder in the Middle East and beyond.
We strictly adhere to an ethical business culture and believe that our strengths lie in the combination of our value-based approach together with a management strategy which drives the initiation, identification and promotion of business opportunities. Enterprise, professionalism, persistence and transparency are key values at NewMed Energy, which have been tempered by a track record of success and achievements, and a unique partnership and inclusiveness with our employees and stakeholders, including customers, investors, regulators, NGOs, and communities.
Yossi Abu, NewMed Energy CEO: "Our operations are a significant and first-rate economic growth engine for the State of Israel, in a manner which positively impacts the economy, environment, and society. NewMed Energy's operations have led, and continue to lead, to a dramatic decrease in pollutant emissions and greenhouse gases in Israel and in other countries in which we market natural gas, and they also help in increasing the GDP, reducing import dependency, increasing energy security, and strengthening our relationships with other countries in the Middle East, including Egypt, Jordan, the United Arab Emirates, and more. These operations are done in line with our long-term vision with respect to promoting sustainability values as part of NewMed Energy's business activity."
In the coming years, the natural gas that we market will continue to play a key role in the Government of Israel's plans to phase out power generation with polluting coal, and will help to reduce emissions in export markets with which we work. Accordingly, we are continuing to invest in the Partnership's natural gas assets, and promoting projects that increase and expedite the displacement of polluting fuels with natural gas, thus facilitating the energy transition. We promote power generation by natural gas and renewable energies, increase of industrial utilization of natural gas instead of fuel oil and diesel, and implementation of natural gas in public transportation, trucks, new residential neighborhoods, and more, instead of the petroleum-based fuels which are currently used.
Concurrently, we are working to expand and diversify our business portfolio by expanding operations in alternative energies, and exploring new investment channels in energy segments whose production does not involve emission of pollutants or greenhouse gases. We are focusing on reducing the impact of the operations on the environment and aiming for net-zero carbon emissions, including investing in renewable energies and advanced technologies in the energy field.
NewMed Energy values transparency, and adhering to business conduct in line with ESG principles. As part of this policy, we have attached the Partnership's corporate social responsibility report. NewMed Energy is proud to be the first Israeli public energy partnership in the Tel Aviv Stock Exchange to have released an ESG report. The report was written in accordance with widely accepted international guidelines, principles and standards.
NewMed Energy is committed to meeting the highest standards set by laws, regulations and industry practices which apply to its operations, and has therefore adopted strict standards and behavioral norms aimed at ensuring the achievement of NewMed's sustainability vision and related principles.
NewMed Energy has adopted a code of ethics which reflects our values and principles, both internally and externally, and which encompasses the interfaces that exist with our varied stakeholders. The code includes reference to proper conduct and maintaining integrity, keeping the law and complying with the procedures and regulations which apply to NewMed Energy, dealing with suppliers, customers, and investors, preserving the Partnership's assets, preventing bribery and corruption, preventing sexual harassment, and more.
The offices in charge of the Code of Ethics is the General Counsel of NewMed Energy. The Code of Ethics was approved by the Partnership's management and board of directors.
As part of our commitment for positive impacts on the environment and climate, and in particular in reducing the concentration of greenhouse gases in the atmosphere, NewMed Energy recently became a member in the Global Carbon Capture and Storage Institute (GCCSI).
NewMed Energy is the first Israeli company in the GCCSI.
GCCSI is an umbrella non-profit organization, whose purpose is to promote initiatives to reduce carbon emissions by way of carbon capture and storage (CCS) or carbon capture, utilization and storage (CCUS). Amongst its exclusive and diverse membership are governments, private and public companies, research institutes and NGOs, that view CCUS as instrumental to providing a clean energy future.