RobecoSAM and S&P Dow Jones Indices (DJI) LLC announced the results of the 2019 annual review of the Dow Jones Sustainability Indices (DJSI) on 13th September 2019. In the announcement, Provident Financial plc was notified of its continued inclusion in both the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability Europe Index (DJSI Europe).
The DJSI is a global suite of indices which monitors the financial performance of companies that have developed a track record in terms of managing and reporting their sustainability performance. It is based on an analysis of financially material environmental, social, and governance (ESG) factors and S&P DJI’s robust index methodology, and is reviewed annually by the S&P DJI Committee and RobecoSAM, a specialist sustainability investment company. After applying a range of financially relevant and industry specific ESG criteria, a “total sustainability score” is assigned to each company. Based on this total sustainability score, companies can be ranked in a range of indices, following a best-in-class approach. This year, more than 3,500 of the world’s largest companies in both developed and emerging markets were invited to take part in RobecoSAM’s sustainability assessment.
Provident Financial’s overall score in the DJSI in 2019 was 61 (2018: 62) which was higher than the sector average for the Diversified Financial Services and Capital Markets industry sector, which stood at 35 (2018: 32). The DJSI World represents the top 10% of the largest 2,500 companies in the S&P Global BMI, and the DJSI Europe selects the top 20% of the largest 600 European companies in the S&P Global BMI based on long-term economic, environmental and social criteria.
Provident Financial’s Chief Executive Officer Malcolm Le May commented:
“We are delighted to continue to be included in both the DJSI World and DJSI Europe. This is an acknowledgement of Provident Financial’s continued efforts to ensure that our purpose is a core component of our business strategy. Our purpose of helping to put our people on a path to a better everyday life is about ensuring that we provide our customers with the tailored and affordable credit products that meet their particular needs and enable them to do the things they want to do in their lives, but also ensuring that we deliver fair outcomes to them throughout their journey with us. It also reflects our continued commitment to take account of the wider environmental, social and governance impacts that our business has. We will continue to deliver our business activities in accordance with our purpose and associated behaviours we’ve rolled out over the past 12 months, and hope to see our scores in these prestigious indices improve in the future.”
Richard King, Provident Financial
Tel: 0203 620 3073
Nick Cosgrove/Simon Selzer, Brunswick
Tel: 020 7404 5959
Notes to Editors
Provident Financial plc is a leading provider of credit products which provide financial inclusion for those consumers who are not well served by mainstream lenders. The Group serves 2.4 million customers and its operations consist of Vanquis Bank, Moneybarn, and the Consumer Credit Division (CCD) comprising Provident home credit and Satsuma.