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.
23 September 2008 00:00
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Investments
Ryan Riedler, head of ASX core strategy, Australian equities at Cbus, says the fund will look to generate alpha locally through engagement and that internalisation will help it strengthen its connection with other market participants, as well as its brokers and service providers.
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