GLOBAL - FTSE Group has added 33 companies and removed 15 firms from its FTSE4Good index following a semi-annual review.
The index provider said changes to the series -designed to track the performance of companies meeting international corporate responsibility standards are effective from close of trading on September 18.
It said, since the launch of the index series in 2001, over 250 companies have been deleted for failing to keep pace with the increasing stringency of the FTSE4Good environmental and social criteria.
However it added, despite raising the criteria bar, most FTSE4Good reviews have seen more additions than deletions, which indicate a growing adoption of responsible business practices across global industry.
At this review almost all of the deletions are from Japan and the US, although FTSE said this is offset by nearly as many companies from these countries entering the index.
15 of the 33 new additions are from the UK and Europe.
Companies to be added to the index series include: French and Swedish telecoms firms Alcatel-Lucent and Telisonera; German stock exchange Deutsche Borse; Hong Kong's Cathay Pacific Airways; UK and U.S media companies Centaur Media and Time Warner Cable; Japan's Mizuho Financial Group and UK Real Estate Company DTZ Holdings.
FTSE said the index series now forms the basis for over 70 different funds and investment products.
It said it has also become an important tool for international non-governmental organisations to determine companies they are prepared to partner, and is used by companies to demonstrate strong corporate responsibility practices.
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