BP: not good enough for FTSE4Good | FT Alphaville

BP: not good enough for FTSE4Good

A slap on the wrist for BP on Friday,  from index compiler FTSE:

(Reuters) – BP is to be evicted from the FTSE4Good ethical investment index due to its Gulf of Mexico oil spill, index compiler FTSE said on Friday, as BP said it would delay its third-quarter results due to the challenges of accounting for spill costs.

FTSE said BP would be excluded from FTSE4Good, which many managers of ethical funds use to screen companies before including them in their portfolios, from September 18.

“The Committee’s decision to remove BP followed consideration of the company’s response to the Gulf of Mexico oil spill, the environmental and social impact and its history of similar incidents,” FTSE said in a statement.

Furthermore, according to Reuters, “BP was earlier this year evicted from the DJ Sustainability Index.”

This is beyond parody, but Turtle-Gate clearly has not gone down well with the ethical investing crowd.

Related links:
Who’s not trading with BP? – FT Alphaville
Fitch catches the BP knife – FT Alphaville
It was the cement’s fault – FT Alphaville