By Denna Bowman
Bridgestone Corporation is one of five companies deleted from the FTSE4Good indices during a semi-annual review held in September.
The FTSE, which is jointly owned by the Financial Times and the London Stock Exchange, removed the Japanese tyres manufacturer for “not meeting the FTSE4Good Human & Labour Rights Criteria.”
No specific information regarding the company’s alleged transgressions has been provided.
FTSE’s in-house Responsible Investment Unit undertakes an extensive global engagement programme with all FTSE4Good companies affected by new criteria requirements. Companies are made aware of the deadlines and what steps they have to take.
FTSE4Good index measures corporate performance in terms of respect for international standards of economic, social and environmental sustainability.
BP was suspended from the FTSE4Good index by the Policy Committee. It based its decision on an evaluation of the company’s response to the Gulf of Mexico oil spill to date, the environmental and social impact, and its history of similar incidents.