Banks and Financial Service Providers Figure Prominently in FTSE4Good Attrition, DJSI Matriculation

Author: William Baue, SocialFunds.com, Published on: 8 September 2005

The two leading global socially responsible investment (SRI) index providers, the Dow Jones Sustainability Indexes (DJSI) and FTSE4Good, announced results of their annual reviews yesterday...High-profile names stud the DJSI lists, with McDonald's, Daimler-Chrysler, IBM, Colgate-Palmolive and Abbott Laboratories amongst the 57 additions and Dow, Alcoa, Fannie Mae, HJ Heinz, Home Depot, Mattel, and VW [Volkswagen] amongst the 54 deletions. While the FTSE4Good lists are also populated with some well-known companies, such as Georgia-Pacific, and Walgreen amongst the 24 deletions and Cinergy and MCI amongst the 42 additions, their most striking feature is the sector concentration of the deletions list. Fully half (11 of 22) of the companies deleted for failing to meet FTSE4Good's Environmental Criteria inhabit the banking and financial services sector, including AmSouth Bancorporation, Bank of New York, Charles Schwab, Fifth Third Bancorp, Keycorp, National City, and US Bancorp. On the other side of the same coin, banks and financial services companies account for more than a quarter (15 of 57) of the DJSI additions list, including Bear Stearns, Goldman Sachs, H&R Block, Nomura Holdings, the London Stock Exchange, and Provident Financial.

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Related companies: Abbott Laboratories Alcoa Bank of New York (part of BNY Mellon) Charles Schwab Cinergy (now Duke Energy) Colgate-Palmolive DaimlerChrysler (now Daimler) Dow Chemical Fannie Mae Fifth Third Bank Georgia-Pacific (part of Koch Industries) Goldman Sachs H&R Block Heinz (now Kraft Heinz) Home Depot Mattel McDonald's MCI (part of Verizon) Nomura Provident Financial Group. PFG US Bancorp Volkswagen Walgreen