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8 March 2007
Sour taste as Tate & Lyle exits FTSE4Good
Source: environmental-finance.com
Environmental Finance, 8 March 2007 - Sugar giant Tate & Lyle and luxury goods group LVMH have been ejected from the FTSE4Good index series for failing to meet its supply chain labour standards.
In a half-year review of the index constituents, a total of 17 companies were removed and 25 were added. The index family comprises more than 450 companies that meet the FTSE4Good''s criteria on social and environmental performance.
Other major names to have left the index in this review include US media firm Viacom, for not meeting environmental criteria, as well as Sumitomo Metal Industries and AEA Technology, both for failing to meet rules on countering bribery.
Alcatel-Lucent acquired a substantial stake in a company involved in the development of weapons systems and strategic parts for nuclear weapons and was also deleted.
Of the 25 companies joining the index, 11 are based in the UK. These include insurance firm Admiral, industrial engineer Foseco and retailer Halfords. Swiss construction and materials firm Geberit also joins, alongside Japanese electronic goods manufacturer Yamatake.
Since the index family was launched in 2001, more than 450 companies have been added and around 160 have been deleted. More than 310 firms have improved and changed their practices, based on new or enhanced criteria, to remain in the index, FTSE said.
Details of the inclusion criteria are published on the FTSE4Good website.
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