On 6th April 2011 the FTSE Group published its tenth FTSE4Good Index Series, which measures the environmental, social and governance ratings of over 2,300 publicly listed companies worldwide. Launched in 2001, the FTSE4Good Index Series has been designed to measure the performance of companies that meet globally recognised corporate responsibility (CR) standards, and to facilitate investment in those companies. 

The FTSE4Good rating is based on a company’s performance across the three broad categories of environment, social and governance, with a particular focus on the following themes: environmental management, climate change, human and labour rights, supply chain labour standards, corporate governance and countering bribery. 

In this year’s FTSE4Good Index Series, Provident Financial achieved a maximum rating score of 100. As a result of this achievement, Provident, along with Aviva, was one of the highest scoring companies in the global financial services sector. Provident’s score was particularly strong in terms of the commitment of its senior directors to manage its CR impacts, its ongoing involvement through the Good Neighbour programme in projects that seek to address issues in some of the most underprivileged communities in the UK and Ireland, and the work undertaken by its subsidiary businesses to address workplace issues such as diversity. 

Ensuring that Provident continues to be a member of the FTSE4Good Index and other socially responsible investment indices is an important facet of its CR programme. It not only enables the company to demonstrate to the investment community and other key stakeholders that it has the policies and management systems in place to manage the environment, social and governance risks that are material to its operations, it also shows that CR is an integral part of how it does business and that it is a suitable company in which to invest.

Peter Crook, Chief Executive of Provident Financial, commented:

“We are proud of our continued presence in the FTSE4Good Index. This recognition demonstrates to our stakeholders that our CR programme is embedded across all areas of business and adds real value to what we do. I am particularly proud of the work we have delivered to the many communities we serve during 2010. Through our flagship community programme, Good Neighbour, we are working in partnership with a range of organisations to support local projects which address the needs of some of the most socially disadvantaged communities in the UK and Ireland.”