Index provider FTSE yesterday launched an Australian environmental, social and governance-style (ESG) index – the FTSE4Good Australia 30 index.
The index is to initially consist of the 30 Australian stocks contained in the global FTSE4Good index. The top five are: BHP Billiton, Rio Tinto, Westpac, NAB and Westfield. Companies are assessed by the Ethical Investment Research Service. They need to demonstrate good environmental management practices, climate change mitigation, countering bribery, upholding human and labour rights and sound supply chain standards. According to ‘Ethical Investor’ newsletter published yesterday, FTSE is also looking to launch a series of environmental indices in Australia in the next month.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
