Cathay Pacific on FTSE4Good Index 2009 Series
September 25, 2009 by admin
Filed under Initiatives
For the first time, Cathay Pacific Airways has been included in the FTSE4Good Index Series, a report designed to measure the performance of companies which meet globally recognised corporate social responsibility (CSR) standards and to facilitate investment in those companies.
The airline’s inclusion in the 2009 Index Series is said to be the result of its increased efforts in CSR, including much more transparent reporting of its management of sustainability impacts, and the provision of clearer guidelines through the company’s overall Code of Conduct, as well as its separate codes of conduct for corporate governance and suppliers.
FTSE4Good, managed by London-based FTSE Group, compiles global responsible investment indices by selecting companies that meet strict criteria relating to CSR on environmental and social issues. To be included in the list, companies must complete a detailed questionnaire covering the management of their sustainability impacts.
The FTSE Group confirmed that, following its semi-annual FTSE4Good Index Series review, a total of 33 companies globally, including Cathay Pacific, will be added to the series while 15 companies will be removed from the responsible-investment benchmark, now in its eighth year.
Cathay Pacific Director Corporate Affairs Quince Chong was reported to have said:
We are honoured to be included in the prestigious FTSE4Good Index Series along with other major companies from around the world. At Cathay Pacific we remain committed to ensuring that our management of sustainability is in line with international best practices, and our inclusion in this index clearly demonstrates our ongoing commitment in this area. We will work hard to ensure our continued compliance with the FTSE4Good standards.
The Cathay Pacific 2008 Corporate Social Responsibility Report, published this year, achieved the top A+ rating in the Global Reporting Initiative (GRI) guidelines, an internationally accepted benchmark for CSR reporting. The airline has further highlighted its commitment to sustainability this year by joining the Sustainable Aviation Fuel Users Group, which is bringing together airlines, manufacturers and environmental organisations to develop sustainable biofuels for the industry.◊
