GLOBAL - The FTSE Group has axed eight companies from its FTSE4Good Global Index Series, including petroleum giants BP.
The semi-annual review deletes companies who fail to meet the stringent ethical criterion which govern the indexes.
BP was removed by the policy committee after what it described as the company’s laissez-faire approach to the Gulf of Mexico oil spill.
Companies added to the indexes came mainly from the US and the UK with two new additions from Spain.
The FTSE4Good indexes were launched in 2001 as benchmarks and tradable indices for responsible investors.
Groups included by the FTSE4Good semi-annual review include AOL, Chubb, The Swatch Group and Talk Talk Telecom Group.
Bridgestone Corp and Allied Irish Bank were amongst the companies to be excluded.
Changes to the index will be effective at the close of markets on 17 September.
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