Rebalancing Adds 6 New Companies to Global Challenges Sustainability Index
The sustainability-themed Global Challenges Index (GCX) has added six new companies to its ranks as part of a semi-annual rebalancing. The new companies are Luxembourg-based waste service and recycling solutions provider Befesa SA; Spanish renewable energy company EDP Renováveis SA; Swedish commercial property developer and manager Fabege AB; French real estate investment fund Gecina SA; UK-based water and wastewater treatment company United Utilities Group, and; UK-based medical equipment company Smith & Nephew Plc.
The GCX is a sustainability-themed index that focuses on companies that address seven global challenges, including combating the causes and consequences of climate change, securing adequate drinking water supplies, stopping deforestation, preserving biodiversity, population growth, fighting poverty, and supporting responsible governance structures. The index is comprised of 50 international constituents, assessed according to strict sustainability criteria. The index was initiated in 2007 by the Hannover Stock Exchange, and developed in collaboration with ISS ESG.
Hendrik Janssen, CEO of the Hanover Stock Exchange, said:
“The volume of licensed products based on the GCX currently amounts to more than EUR 800 million. This underlines both the strong interest of the capital market in real sustainable investment opportunities and the excellent performance of the GCX since its inception in 2007.”
The new index members will replace constituents Enagás SA, Energy Recovery Inc., Siemens Gamesa Renewable Energy SA, Snam SpA, Renault SA and Rec Silicon ASA.
Javier Molina, CEO of Befesa, said:
“We are delighted to be included in the Global Challenges Index because waste management is one of the greatest challenges facing the world. Therefore, circular economy not only reduces the amount of waste, but also avoids the promotion of new ones Raw materials and the associated high ecological and financial costs. Befesa has been part of the circular economy for more than three decades by recycling more than 1.5 million tons of hazardous waste annually and recovering valuable materials that we then bring back into the economy. “
Rui Antunes, Executive Director, Planning & Control, Investor Relations and Sustainability at EDP Renováveis (EDPR) said:
“We are proud to have EDPR included in the Global Challenges Index (GCX) in recognition of the business strategy that continues Focused on mitigating climate change and advancing the transition to a more sustainable energy system, EDPR recognizes the importance of electricity for sustainable development and has a duty to focus not only on business challenges, but also on one Business model that adequately handles environmental, social and governance risks. “
Mia Häggström, Sustainability Manager at Fabege, said:
“Certifications are a great tool for creating long-term sustainable project development and property management through clear management by objectives. Certifying a building is a team effort and I am therefore particularly pleased and proud that this work has garnered attention and recognition. As a plus, the result benefits our entire business, including the opportunity for green funding.”
Andrya Clark, Director, Social Responsibility and Sustainability at Smith + Nephew, said:
“Smith + Nephew’s goal is to generate long-term value not only through profit, but also through the engagement of our employees and through a positive impact on the community , in which we live and serve. Our sustainability strategy is closely interwoven with our business strategy, the purpose of our Life Unlimited initiative and our corporate culture values, and it sets the tone for everything we do. “
Phil Aspin, Chief Financial Officer of the United Utilities Group, said:
“We firmly believe that the long-term prospects of our company are inextricably linked with our ability to operate sustainably while serving the interests of all of our stakeholders. An environmentally sustainable one , Being economically beneficial and socially responsible is key to achieving our goal of providing the North West of England with, but not limited to, excellent water. It is great that with our inclusion in the Global Challenges Index (GCX) our approach to Addressing sustainability challenges is recognized. “