Social responsibility investment index launches

Research and ratings agency, ReputTex has launched its Social Responsibility Investment (SRI) Index.

The RepuTex SRI Index comprises 44 companies from the S&P/ASX 300 Index that have achieved a RepuTex Corporate Social Responsibility (CSR) rating of 'A' (satisfactory) or higher. The constituent companies are spread across a broad range of industry sectors.

The index will be independently calculated by Standard & Poor's on a daily basis.

Chairman of RepuTex, Mr Graeme Lee said the RepuTex SRI Index would bring a number of benefits to the Australian business community and would accommodate both mainstream and socially responsible ethical investors.

"The Index will provide a benchmark against which SRI investors can measure their investment performance and provide a portfolio of companies from which SRI investments may be selected," Mr Lee said. Companies accepted onto the Index have been assessed and rated for their performance and risk exposures in corporate governance, environmental impact, social impact and workplace practices.

The RepuTex SRI Index is being launched at a time when SRI is becoming more prevalent in Australia with ethical/SRI funds growing from $14 billion in 2003 to $18.5 billion on 30 June 2004.

Companies leading the RepuTex SRI Index include: Westpac; BHP Billiton; Origin Energy; Telecom Corporation of New Zealand Limited; Insurance Australia Group; and National Aust Bank.