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FTSE4Good launches new climate change criteria at high profile event
FTSE4Good, the index series designed to measure the performance of companies that meet globally recognised corporate responsibility standards, has launched a new set of climate change criteria that certain companies must meet in order to be included on the index. These criteria were developed by a committee of climate change experts, in consultation with a wide range of stakeholders.
FTSE4Good has identified 255 constituent companies out of 898 with a high or medium operational impact on climate change, who will have to meet the criteria within two years or lose their place in the index. Of these, less than 50 already meet the new standard. But all firms admitted to the index in the future will have to meet the criteria immediately.
Companies in the aerospace, oil and gas, automobile and coal sectors will have to meet extra requirements, because their products have a particularly high impact on climate change.
The launch event had presentations from UK Environment Secretary David Miliband, Stuart Rose, CEO of Marks and Spencer and Sir Digby Jones Vice-President, UNICEF UK.