Coca-Cola Amatil, Suncorp Group, DirecTV, chemical company Ecolab, food producer Hillshire Brands and jewelery retailer Tiffany & Co. are among 21 companies added to the FTSE4Good Index, which identifies on a semi-annual basis businesses that meet globally recognized corporate social responsibility standards.
Seven companies were dropped from the index for no longer meeting FTSE4Good criteria. Life insurance firm Ageas, Dr Pepper Snapple and Pendragon were dropped for not meeting environmental management criteria and Best Buy, Mattel and PCCW were deleted for not meeting the index’s labor rights criteria. Global logistics and transport company Nippon Express was dropped from the index for failing to meet both labor and environmental criteria.
The FTSE4Good criteria evolves over time and requires continued improvement in environmental and social practices in order to gain or maintain inclusion. Changes to the index will be effective after the close of markets Sept. 21.
Other additions to the index include Waste Management, financial services company Equifax, travel and leisure company Tatts Group, Canadian telecommunications firm Bell Aliant, Japan’s Astellas Pharmaceutical and UK food producers Tate & Lyle.
Of the new additions to the index, 11 are from the US, three companies are from the UK, three are from Australia, two from Japan, one from Switzerland and one from Canada. FTSE Group added financial services company BNY Mellon to the FTSE4Good Index in its previous semi-annual review in March.
FTSE Group also announced it is more than doubling the number of companies for which supply chain labor standards criteria apply from 164 to almost 400. Initially, FTSE applied the supply chain labor standards criteria only to companies that produce clothing, accessories, footwear, toys and food products. FTSE has extended its criteria to encompass companies that provide consumer and office electronics, such as computers, mobile phones and photocopiers; home products; and other consumer products, including jewelery and watches.