December 3, 2012
Today NASDAQ OMX and GES present the list for the annual reconstitution of the OMX GES Sustainability Indexes. A positive trend this year is that the average ratings have increased, indicating a generally higher ambition among the companies.
The OMX GES Sustainability Indexes for the Nordic, Swedish and Finnish markets consist of the 50/40/40 leading listed companies in terms of sustainability. The index criteria are based upon international guidelines for environmental, social and governance (ESG) issues and support investor considerations to the Principles for Responsible Investment (PRI). The assessment is conducted by GES, which rates the most traded companies on the NASDAQ OMX Nordic stock exchanges on their preparedness on ESG issues.
A positive trend during this year developed in both the Nordic and Swedish indexes, where the average ratings increased. In the Nordic index the leading company was rated at 5,49 (compared to 5,08 in 2011) and the last at 4,29 (4,00) on a seven-point scale, whereas in the Swedish index the leader achieved a rating of 5,26 (5,08) and the last 4,00 (3,57).
In addition shifts have affected all indexes, where last year’s top performers have dropped in the ranking this year.
”This is not because their work has become worse, rather the opposite, but other companies have improved even more” said Fredric Nyström, Key Account Manager and Engagement Coordinator at GES.
Despite the financial crisis, banks have also improved their sustainability work. However, the internal ranking among Nordic banks has changed.
At the same time Talvivaara has been dropped from all indexes, due to recent developments in the leaking tailings dam case in Finland. While the work with the case is ongoing, GES decided to keep the company outside of all indexes. Pöyry Group has also been delisted which is partially due to a lower rating following association to a controversial dam in Laos.
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