In September 2011, the FTSE Group announced the results of its FTSE4Good semi-annual review. This review updates the company environmental, social and governance (ESG) scores and ratings which were published in April 2011. As a result of this review, Provident retained its maximum, overall ESG rating score of 100, and therefore continues to be a member company of the FTSE4Good Index.
The FTSE Group undertakes its semi-annual review against ESG inclusion criteria which cover a range of corporate responsibility issues, including environmental management, climate change, human and labour rights, supply chain labour standards and countering bribery.
Rob Lawson, Corporate Responsibility Manager at Provident Financial, commented:
“We are naturally very pleased to continue to achieve a maximum, overall ESG rating score in the FTSE4Good Index. Our continued presence on this Index, and the other mainstream sustainability indices, demonstrates to our key stakeholders that our CR programme plays an important role in helping us to manage the social, environmental and economic issues that are material our business activities”.
The FTSE4Good Index Series has been designed to measure the performance of companies that meet globally recognised corporate responsibility standards, and to facilitate investment in those companies. Transparent management and criteria alongside the FTSE brand make FTSE4Good the index of choice for the creation of Responsible Investment products. The index series is now being complemented with the launch of the FTSE4Good ESG Ratings, to provide a broader range of ESG data and services.
The FTSE4Good indices are governed by an independent ‘FTSE4Good Policy Committee’ which meets in March and September for index reviews. This Committee directs the evolution and development of the criteria for the index series, and approves additions and deletions to the index at reviews in line with the inclusion criteria and index ground rules.
For more information on the FTSE4Good Index Series please visit: http://www.ftse.com/Indices/FTSE4Good_Index_Series/index.jsp