41 companies added, 23 deleted from index
Some of the world's largest and best-known companies accustomed to their annual inclusion in the Dow Jones Sustainability Index received a bit of a jolt this week when they were bumped from the most important sustainability-focused investment ratings in the world.
Based on a corporate sustainability assessment conducted by the Swiss sustainability-focused investment boutique SAM, the updated Dow Jones Sustainability World Index (DJSI World) reflects improved CSR performance in banking, insurance and the healthcare "supersectors," while those that took the biggest hit include oil and gas, utilities, industrial manufacturing and, yes, even technology firms.
Among the largest and best-known companies not included on the 2011 DJSI World (pdf) include beverage powerhouse Coca-Cola Co., California-based technology giant Hewlett-Packard Co. and California utility PG&E.
Other notable deletions among the regional indices include Microsoft, Waste Management, FedEx (North America), Volkswagen AG, Statoil ASA (Europe) and Suncorp Group Ltd. (Asia).
Despite the notable deletions, the World Index grew by a net of 18 companies with Minneapolis-based medical technology company Medtronic Inc.; French energy management and energy efficiency powerhouse Schneider Electric S.A., and French bank and financial services company Societe Generale S.A leading the way as the the largest additions.
New additions to regional indices include Sprint Nextel, U.S., CSX (North America), Mitsubishi Corp. Hang Seng Bank Ltd (Asia Pacific) and Alcatel-Lucent (Europe)
First calculated in 1999, the Dow Jones Sustainability World Index is made up of more than 300 companies in the top 10 percent of their business sector based on a basket of long-term economic, environmental and social criteria including with a special focus on industry-specific risks and opportunities.
Changes to the DJSI World and all 18 other world and regional indices will become effective with the open of the stock markets on September 19, 2011.