However, the LSE has refused to remove big polluting companies or the security company G4S despite allegations of systematic labour abuses across the world. At its latest semi-annual review earlier this month, FTSE Russell added the world’s 13th and 15th largest oil companies by market capitalisation, Rosneft and ConocoPhillips, to the FTSE4Good index. Rosneft Oil, Russia’s state oil company, produced 1.9bn barrels of oil in 2018. Others included Italian supermajor Eni, Canadian oil sands miners Imperial Oil and Suncor Energy, and India’s Reliance Industries, the world’s seventh largest oil company. On G4S, the spokeswoman said: “FTSE Russell and the FTSE Russell ESG advisory committee considered G4S against the controversy framework at this review, which assesses both the severity/scale of an incident as well as how effectively the company has responded.

Source: The Guardian December 22, 2019 13:52 UTC