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AmericasNovember 7 2005

Bovespa index will chart corporate behaviour

As interest in socially responsible investment increases in Brazil, the stock exchange plans an ethical index that will track responsible companies. By Oliver Balch.
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In the wake of Brazil’s corruption scandal, the country’s main stock exchange is preparing to launch a socially responsible investment index on December 1. The São Paulo-based Bovespa will use the tradeable index to track Brazil’s 40 most responsible companies.

In what is a first for Latin America, the ethical index will be based on Bovespa’s universe of 150 most liquid stocks. Inclusion will depend on a company’s performance against four core criteria: corporate responsibility policies, management structure, performance and legal compliance.

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