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Toronto, September 27, 2012 — Today, Sustainalytics announced that it will introduce an annual review process for the Jantzi Social Index (JSI)© starting in March 2013. As well, Sustainalytics reports that between annual reviews the JSI index committee will remove companies that cease to be part of the TSX Composite Index (the JSI’s universe). Sustainalytics will continue to remove any companies that become ineligible based on the JSI’s exclusionary criteria.
The adjustments made to the JSI’s methodology will ensure that the index continues to meet its goals of listing leading environmental, social and governance (ESG) performers, being an investable index and having sector weights similar to the TSX Composite Index. More information about the JSI’s methodology can be found on Sustainalytics’ website: http://www.sustainalytics.com/indexes.
As a result of the above changes, Sustainalytics will replace five companies on the JSI that are no longer part of the TSX Composite Index. Effective as of the opening of the market on Tuesday, October 2, 2012, ATS Automation Tooling Systems Inc. (TSX:ATA), Ballard Power Systems Inc. (TSX:BLD), Cascades Inc. (TSX:CAS), QLT Inc. (TSX:T.QLT) and Tembec Inc. (TSX:TMB) will be replaced by the companies listed below. These companies were selected giving consideration to the overall goals of the index.
Bombardier Inc. (TSX:BDD.B)
According to Sustainalytics’ ESG analysis, Bombardier ranks near the top of its industry and scores well above average in almost all areas of ESG performance. The company is a signatory to the UN Global Compact, and it has strong safety and environmental management systems as well as strong supply chain and community development programs. The company has also taken notable initiatives in the development of cleaner transportation technologies, including its ECO4 rail technologies and its PRIMOVE technology.
Celestica Inc. (TSX:CLS)
Celestica ranks in the top 10 per cent of the technology hardware and equipment peer group. The company is a member of the Electronic Industry Citizenship Coalition (EICC) and had adopted the EICC code of conduct for its own operations and its supplier relationships. The EICC code requires companies to be compliant with important social and environmental provisions, including labour rights and conflict minerals standards. Celestica also has strong policies governing its environmental impacts and for green procurement. This includes maintenance of ISO 14001 certification for its environmental management system and programs to manage its greenhouse gas emissions.
Detour Gold Corporation (TSX:DGC)
Detour Gold ranks relatively well among its peers and stands out for its commendable relations with local communities. The company has signed agreements with various aboriginal groups to provide training, employment and business opportunities to the communities, as well as to involve aboriginal people in environmental monitoring. Two of the company's environmental monitors come from local First Nations. Moreover, Detour is one of the few mineral exploration companies tracked by Sustainalytics that has a Vice President of Aboriginal and Government Affairs.
Imperial Oil Ltd. (TSX:IMO)
Imperial Oil ranks in the top quartile of the oil, gas, coal, and consumable fuels peer group and has notably strong policies and management systems. The company integrates environmental factors into its business strategy and planning, recognizing sound management as important to operational efficiency, in particular with respect to spill prevention, water use, flaring and waste throughout its operations. The company recovers and uses 99.5 per cent of the gas associated with its oil production, which is among the highest recovery rates achieved by oil producers in Canada. Imperial Oil also has strong healthy and safety programs, and its safety performance record is among the best in its peer group. The company has reported no fatalities since 2003.
Tim Horton’s Inc. (TSX: THI)
Tim Horton’s ESG performance ranks among the top 10 per cent of the consumer services peer group. The company has developed social supply chain standards that address a broad range of working conditions and reference International Labour Organization conventions. Tim Horton's Coffee Partnership works with local coffee organizations, governments, and non-governmental organizations to improve the farming techniques of small coffee farmer operations to help them produce high quality coffee efficiently.
About the Jantzi Social Index
Launched in 2000, the JSI is a market capitalization-weighted common stock index consisting of 60 Canadian companies that pass a set of broadly based ESG rating criteria. In creating the JSI, Jantzi Research, now Sustainalytics, set out to create an index which could be used by institutional investors in benchmarking the performance of socially-screened portfolios and by financial institutions in developing investment products such as index mutual funds, exchange traded funds, index portfolios, index futures and options. The JSI’s underlying universe is the TSX Composite Index.
Sustainalytics provides environmental, social and governance (ESG) research and analysis as well as responsible investment services to investors around the world. The firm offers global perspectives and solutions that are underpinned by local experience and expertise, serving both values-based and mainstream investors that integrate ESG information and assessments into their investment management. In 2012, Sustainalytics was voted Best Responsible Investment Analysis Firm in the Thomson Reuters Extel IRRI Survey.
Headquartered in Amsterdam, Sustainalytics has regional offices in Boston, Frankfurt, Madrid, Paris, Singapore, Timisoara and Toronto and representatives in Bogotá, Brussels, Copenhagen and London. The firm has more than 100 staff members with a variety of multidisciplinary and industry expertise. In 2012, Sustainalytics celebrates 20 years of collaborating with responsible investors worldwide.
Marketing Communications Coordinator