FTSE4Good raises human rights criteria.

The FTSE Group has announced an adjustment to the human rights criteria in the FTSE4Good ethical index. The changes follow a consultation period in 2002 on the associated issues. Organisations from the Global Resources Sector will be required to meet the new standards on human rights by September 2003, while companies with involvement in high-risk countries will have a later deadline of March 2004.

Will Oulton, Deputy Chief Executive FTSE Group stated; “The enhancement to the human rights criteria for the FTSE4Good index series is the second major revision since it was launched in July 2001. The environmental criteria were the first to be revised and following an extensive engagement programme, the majority of companies made significant improvements to meet the criteria. We are confident that by working closely with companies to help them understand the enhancements to the human rights criteria we will again see significant steps made to improve standards.”

The change is believed to be part of a wider range of alterations to the index, in a bid to improve general performance of participant organisations.