Cologne, July 31, 2001
Critical Shareholders in Germany
expose ”ethical” index FTSE4Good
The Association of Critical Shareholders in Germany calls the alleged ”ethical”
index FTSE4Good ”extremely deceptive packaging”. The criteria used in the
index rely mainly on voluntary commitments and voluntary reports by companies
instead of using data which was independently verified, argues Henry Mathews,
CEO of the association.
”Companies which cause environmental risks like Bayer and BASF have been
included in the index” says Mathews indignantly. Automobile companies like BMW
and Volkswagen are ”in principle not environmentally sound and should not be
included in an ethical index”. The same is true of the German airline Lufthansa,
which ”tolerates the violent deportation of fugitives in its planes”.
The Critical Shareholders stress that it is high time to put a stop to the misuse
of terms like ”ethical”, ”responsibility” and ”sustainability”. "Clearly”, says Mathews,
“standards for ethical investment must be developed requiring greater transparency,
external verification and appropriate measures of performance."
The launch of the FTSE4Good index emphasizes this need - especially since the
included Volkswagen AG is a good customer in the house of ”imug” - a German
institute which was involved in the rating of the German companies.
Background article & many links about FTSE4Good (german language)
Background info about german companies (german language)
Background info about Association of Critical Shareholders in Germany (english)