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Westpac, IAG recognised in social responsibility index

FTSE ranks companies by environmental consciousness

Financial institutions Westpac and Insurance Australia Group (IAG) have scored some of the highest ratings for corporate social responsibility practices in a new global index of public companies.

The FTSE4Good ESG Ratings scheme, released this month, takes stock of the environmental, social and governance practices of more than 2300 public companies globally, taking into account the management of elements concerning environmental, human rights and supply chains as well as corporate governance and bribery issues.

The ratings were provided relative to the risks inherent in managing individual companies’ social responsibility.

Westpac scored the highest possible index with a score of 5, while IAG was given a score of 4.8. Resources company, BHP Billiton, also scored highly at 4.4, along with construction group, Mirvac.

Australian companies were counted among some of the most environmentally conscious in sectors such as real estate, insurance, financial services, construction and resources.

Australia ranked 15th overall among the countries benchmarked, with an average rating of 2.93.

The index company behind the scheme, London-based FTSE, formed the ratings to provide a benchmark for companies to track their own progress and determine that of others.

The ratings scheme is expected to be reassessed twice a year by research company EIRIS and will be overseen by an independent committee of members of the investment community, academia, the business community, unions and non-government organisations.

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More about: BHP, BHP Billiton, Hewlett-Packard, HP, IRIS, Mirvac, Westpac, Westpac
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Comments

1

Umm what?

Wed 27/04/2011 - 18:18

Westpac and human rights!

Westpac have a history of attempting to retrench/sack women who become pregnant in the workplace. Most of the time poor performance is the blame against the employees, while complaints to HR are ignored. I find it highly offensive that the so-called preferred employer for women in australian business has a poor record in this area. Though most staff affected are made sign agreements stating no legal damages can be sought upon their leaving.

Sometimes it is better to query external sources than the senior managers who cover up their discrimination against human rights in the work place.

What a joke that award is!

Disgusting.

What a joke

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