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Ormat Sustainability Report 2019

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Ormat Sustainability Report 2019 ORMAT TECHNOLOGIES INC. SUSTAINABILITY REPORT 2019 Our Economic, Environmental and Social Performance Highlights Tungsten Mountain complex – 27 MW geothermal and 7AC solar - Nevada, U.S. 1 TABLE OF CONTENTS I. A MESSAGE FOR OUR STAKEHOLDERS ................................................................................................................................4 V. OUR HOLISTIC APPROACH TO CORPORATE GOVERNANCE ...........................................................................................52 II. HOW ORMAT POWERS OUR RENEWABLE ENERGY FUTURE ..........................................................................................8 Making Sound Corporate Governance a Priority ................................................................................................................................54 Ormat: What We Do ...................................................................................................................................................................................14 Ormat’s Corporate Governance Structure.................................................................................................................................................54 About Our Renewable Energy Business .....................................................................................................................................................14 Our Corporate Governance Policies and Guidelines .............................................................................................................................59 Ormat’s Geothermal and Recovered Energy Power Plants in Operation ....................................................................................16 Ensuring a Corruption-Free Work Environment .................................................................................................................................59 Our History and Key Experience .................................................................................................................................................................... 20 Communication and Training on Anti-Corruption Commitments ..................................................................................................60 Our Customers .......................................................................................................................................................................................................20 Insider Trading Policy ..........................................................................................................................................................................................60 Ownership Structure ...........................................................................................................................................................................................22 Major ongoing litigation .....................................................................................................................................................................................60 Beneficial Ownership ..........................................................................................................................................................................................22 Ethical Conduct at Ormat..................................................................................................................................................................................60 An Organization Shaped by Values ........................................................................................................................................................24 Whistleblower Policy ...........................................................................................................................................................................................61 Our Five Core Values ...........................................................................................................................................................................................24 VI. GENERATING ENVIRONMENTAL VALUE AND MEASURING OUR IMPACTS .................................................................62 Knowing Our Impacts – Stakeholder Engagement Strategy ..........................................................................................................26 Mitigating Climate Change Risks and Working to Realize New Opportunities .........................................................................64 Stakeholder Groups Engaged by the Organization ..............................................................................................................................26 Emissions from Our Power Plants and Operations ................................................................................................................................64 Our Approach to Stakeholder Engagement .............................................................................................................................................26 Energy Use, Efficiency and Fuel Resource Management at Ormat ..............................................................................................69 Our Sustainability Strategy - Defining What’s Material to Ormat .................................................................................................29 Management of the Geothermal Resource and its By-Products .....................................................................................................71 Results of the materiality survey .................................................................................................................................................................... 30 Management of Water Resources in Our Operations ...........................................................................................................................71 Our Strategic Commitments and Sustainability Plan ........................................................................................................................32 Waste, Management of Materials and Biodiversity Conservation .................................................................................................73 External Initiatives .................................................................................................................................................................................................32 Waste, Material Management and Recycling............................................................................................................................................73 Ormat’s Memberships of Association ..........................................................................................................................................................33 Biodiversity ..............................................................................................................................................................................................................76 Ormat and the Sustainable Development Goals (SDGs) ....................................................................................................................33 VII. OUR IMPACT AND ENGAGEMENT WITH OUR EMPLOYEES, SOCIETY & LOCAL COMMUNITIES ...........................80 Risk Management Strategy – Sustainability and Climate Change-Related Risks ...............................................................................38 Our People: Employment and Skill Development at Ormat............................................................................................................82 Our Risk Management Approach ..................................................................................................................................................................38 Our Outlook on Employment ..........................................................................................................................................................................82 III. ABOUT THIS REPORT ...............................................................................................................................................................40 Our Employment Framework ..........................................................................................................................................................................82 Information Boundaries of This Report .................................................................................................................................................42 Training & Educational Opportunities ..........................................................................................................................................................94 Contact Point for Questions Regarding This Report .........................................................................................................................43 Ensuring a Safe & Healthy Work Environment – Occupational Health and Safety at Ormat .................................................98 Forward-Looking Statements ..................................................................................................................................................................43 Our Occupational Health and Safety Program – Striving to Go Beyond Compliance ...........................................................98 IV. OUR BUSINESS, FINANCIAL PERFORMANCE AND ECONOMIC IMPACTS ....................................................................44
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