Index series A-Z
As set out in the FTSE4Good BMS Criteria impact note (see fourth link above), once a BMS manufacturer meets the FTSE4Good Index inclusion criteria and enters the index it is subject to a verification assessment.
In 2011 a verification assessment was carried out on Nestle by PriceWaterhouseCoopers with assessments at Nestle's head office in Switzerland as well as at operations in India and Zambia. The verification assessment was funded by FTSE together with the Global Alliance for Improved Nutrition (GAIN) and was also informed through input from a range of organisations.
Below is a link to a letter from Mark Makepeace, FTSE’s Chief Executive to Mr Paul Bulcke, Nestle’s CEO, where he outlines the key findings of the verification assessment. Please also find a link to Mr Bulcke’s response.
Following the Nestle verification assessment, a workshop was held in January 2012 to review the results of the first verification and the process itself. A summary of the workshop is provided below.
In 2012 PwC conducted the annual verification assessment on the FTSE4Good BMS Criteria. Nestlé was assessed as the BMS manufacturer to meet the criteria and be included in the FTSE4Good Index. In a follow-up to the 2011 BMS Verification Workshop recommendations, the results of the 2012 verification are presented in the public domain here
Additional response to issues raised by Baby Milk Action regarding FTSE’s relationship with other organisations:
Chatham House - FTSE partners with a range of experts organisations around the World, and this has in the past included Chatham House, internationally recognised for their high calibre conferences. For five years, until 2009, FTSE partnered with Chatham House for their Corporate Responsibility Conference. FTSE’s role was to provide advice on the programme, but had no commercial involvement in the event, and neither contributed any funding to Chatham House, nor received any funding from any of the sponsors involved.