The introduction of the new FTSE4Good ethical share index has provided mixed fortunes for the printing, packaging and paper representatives on the FTSE All Share index.


St Ives, API Group, Applied Optical Technologies, British Polythene Industries, Bunzl, Communisis and De La Rue all made it onto the index. But Macfarlane Group, Domino Printing Sciences and Photobition failed to merit inclusion.
Entry was based on three criteria: environmental responsibility, developing positive relationships with stakeholders, and upholding and supporting human rights.


The four sets of FTSE4 Good indices, which cover the UK, the US, Europe and the rest of the world, will be used as a benchmark for socially responsible investment funds.
Xaar failed to make the list because it didnt publish details of stakeholder and social relations. But finance director Gordon MacLeod said the firm complied with all the things FTSE4Good is trying to target.


We have a positive recruitment policy, taking people from all races, creeds and backgrounds, he said. We are happy and comfortable that were a good company, but theres a difference between that and stating what I consider to be the absolute obvious in our report and accounts.


Domino Printing Sciences fell down on the human rights and stakeholder relations criteria, while Photobition didnt meet social and stakeholder requirements.
Macfarlane fell short on environmental reporting. Chief executive Iain Duffin said FTSE4Good was something the group hadnt really considered, and said it was probably true that
it didnt state its environmental policy in its annual report.


But he said it was something he would review to try to understand on what basis they have made their decision.
CBI deputy director general John Cridland said: Theres a danger that firms included might be seen as good and those left off as bad.


FTSE4Good hopes to raise 1m for UNICEF in its first year.


Story by Gordon Carson